heyhoe 0 Report post Posted May 14, 2008 I've been viewing properties and would like to purchase one soon. I would appreciate any tips on how to negotiate for a price. Most of the time, the seller agent will tell me that the last offer was so XXX price and usually ask you to up the offer. How do I know that this is genuine? Also, the last offer by the buyer might have lapsed. He/She might have found another place more suited for them. The worst thing is I saw the same advert over and over again (been weeks!) by the same agent. Now, should I offer them again at the same price or just forget and move on . Many thanks! Share this post Link to post Share on other sites
chronograph 0 Report post Posted May 14, 2008 It depends on who breaks first, buyer or seller? You need to do your home work; 1)is there any potential competition? Any other buyer interested in the property? 2)Is the seller urgent to get rid of the his/her property? 3)Is the last offer make known to you reasonable base on your own judgement? 4)How long have the property been listed in the market? Besides, ask yourself if the property the right one for you where u will go all the way out to buy it? For me i will start off with the last offer price if there is no competition, it is reasonable and the property have been in the market for sometime! Never Never let the seller know u r very keen in buying! Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted May 14, 2008 My motto: Always go for the 'jump'. Eg if the asking price is $250K, check if can consider $200K. If the agent/seller jumps and say, "Siao ah! Cannot lah!" then u got him liao. Next question is, "How much, then?" The price that come out would be the true base price. If you offer a price and they say, "Ok, we will consider", or worse "Can, you come in with the cheque" and no 'jumping', this means that their base price is still below your offer price. Share this post Link to post Share on other sites
lovee_cdc 0 Report post Posted May 21, 2008 My motto: Always go for the 'jump'. Eg if the asking price is $250K, check if can consider $200K. If the agent/seller jumps and say, "Siao ah! Cannot lah!" then u got him liao. Next question is, "How much, then?" The price that come out would be the true base price. If you offer a price and they say, "Ok, we will consider", or worse "Can, you come in with the cheque" and no 'jumping', this means that their base price is still below your offer price. wat u mean by asking price? the valuation price + cov or the valuation itself? coz what i know is rarely seller will sell their flat below valuation price ... Share this post Link to post Share on other sites
zirhk3355 1 Report post Posted May 21, 2008 wat u mean by asking price? the valuation price + cov or the valuation itself? coz what i know is rarely seller will sell their flat below valuation price ... Ya lah, I am just quoting a straight example with a simple digit. Applies the same way for negotiating on COV too... Share this post Link to post Share on other sites
coffee - kohi 0 Report post Posted June 3, 2008 this is my method, not sure if it is good. Let me know as i am also going to negotiate for a price if the unit is not sold. 1) check HDB website to know the average price of the house. I try not to be (unless the hse is gd) the highest paid buyer in that unit. Follow the crowds~~` 2) Look out for area in the house which you know will bring down the price and keep harping on it. 3) Determine if you will have problem selling not at a lost I guess ultimately is based on how much u like the flat and your judgment call. Share this post Link to post Share on other sites
