Negotiation of a house

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kalikantzaraki
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kalikantzaraki

Negotiation of a house
« on: May 01, 2019, 09:01:02 PM »
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How you negotiate with a broker or a house owner ? Do you speak on the phone or face to face ? Also about the price do you have a target and offer  lower price than that with the intention after the negotiation to go to this price ? and if yes how lower than the "target "? The questions are just to help you every tip and trick is very helpful unfortunately as  a beginner the only thing I know is that with the lower price than the target..
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dealer wins
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Re: Negotiation of a house
« Reply #1 on: May 01, 2019, 09:10:57 PM »
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How you negotiate with a broker or a house owner ? Do you speak on the phone or face to face ? Also about the price do you have a target and offer  lower price than that with the intention after the negotiation to go to this price ? and if yes how lower than the "target "? The questions are just to help you every tip and trick is very helpful unfortunately as  a beginner the only thing I know is that with the lower price than the target..

In the UK you put in an offer, and it is either accepted or rejected by the seller.  Start low and work up, at the moment its a buyers market and prices are volatile due to Brexit etc.  In the past in strong sellers (rising) markets it was not uncommon to have to put in a much higher offer than the asking price, and even then you could be "gazumped" .   

Offers in England are not legally binding until your solicitor "exchanges contracts" with the sellers one, so even if your offer is accepted its not binding until its legally sorted.

And good luck, buying a 1st home is a major milestone in your life, may you get the one of your dreams and be very happy there!
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kalikantzaraki
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Re: Negotiation of a house
« Reply #2 on: May 01, 2019, 10:17:38 PM »
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Thanks for the answer but... pfff there is no fun if dont negotiate the price. I think that bidding always exist inside you and the house owner or the middle man, unofficial at least.
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Re: Negotiation of a house
« Reply #3 on: May 01, 2019, 10:27:46 PM »
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If you want to take chances and potentially get a bargain, go to a property auction.  I have no experience of these other than watching the UK TV program "homes under the hammer" but the buyers seen to do OK buying at auction and then renovating and selling on houses, or getting their dream home cheaply which will require extensive works but still cheaper than buying a ready to live in home!!
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kalikantzaraki
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Re: Negotiation of a house
« Reply #4 on: May 01, 2019, 11:01:18 PM »
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Nice tv show I just began to see it and.... https://www.youtube.com/watch?v=Z8niCk4Q2zg the first guys job is sports bettor what a coincidence
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ArberPro
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Re: Negotiation of a house
« Reply #5 on: May 02, 2019, 07:59:05 AM »
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I will tell my experience, from my country...in other countries it may differ.
Usually asking prices here are higher than expectations so you can negotiate 5-15%. You can say what money you need to invest in the house to the owner and bad stuff about the house but don t over do it , don t try to negotiate  with the real estate agent, the owner should be present, also if you have cash you can say i am willing to pay xxx sum tomorrow (make the offer to pressure the owner to choose fast),  take it or leave it.
You can also try to get in contact with the owner , put a friend to visit the house with you , to sign the real estates agent contract and then ask the neighbours for the phone number of the owner ( it is not about the 1-2% commission,  but real estate agents inflate prices).
About auctions, here you need to someone to give the good auctions and there is a fight for them, if you go to an auction , first go to the property, ask people near the place about the house, because you can t enter in it, so you need to do you re homework really good, second auction  for the same property the price goes 25% down, don t buy houses with people still in it, you would need to evict people and that maybe take years and not a very fun experince.
I see alot of houses here , that sell for free ( the free land value near the house is the same with asking price of the land with a house (9-15 years old) ) so if you re buying a house remember that the building  may by a liability.
P.S Ask the owner if he gambled online so you know if you can opend bookie accounts with that address,  this adds  value also :))
« Last Edit: May 02, 2019, 08:04:43 AM by ArberPro » Logged
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