I was wondering what your opinion is on what a good offer would be on a condo I found. I am totally in love with this condo I found in Wisconsin. It is a brand new complex 2 bedrooms 2 bathrooms. With a 2 car garage. It's completly gorgeous and I really want it. The price is 166900 but if I could get it for a little under that it would be great. Would an offer of 153900 be too low? Then if they do not take that go up a little?
2006-12-20 07:24:24 · 5 answers · asked by J. 4 in Business & Finance ➔ Renting & Real Estate
If I got it for 153900 I would have 15% for a downpayment.
2006-12-20 07:25:12 · update #1
Although each area is different, you should be able to ask your Realtor what the typical list to sales ratio is. Where I'm from, it's around 96%. Most sellers are made aware of this information at the time of listing. So, if I was you, I'd would start an offer around 93% of asking price so that you have some room to negotiate up from there.
2006-12-20 07:27:01 · answer #1 · answered by sweetsum691 5 · 0⤊ 0⤋
Your best bet is to find out what the lowest sales price in that condo building has been, and how that compares to your unit.
That being said, just make the offer you want to make. If they don't like the offer, they'll tell you with a counter-offer. Which you can then counter back on. And so on, until you are both satisfied.
This is a great time to negotiate new condos, since the market is slow for them right now in most areas. Squeeze the heck out of them. Don't be afraid to walk away from the table without finalizing an offer the first day. Their best leverage is in the assumption that once you sit down to haggle, you want to leave with a deal. And when they make what they say is their best offer possible, stand up from the table, tell them you want it $2-3000 less, and that they can call you when they're ready with the paperwork at that figure. Then leave. They will call you.
2006-12-20 15:40:25 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Everything in realestate is negotiable. your first offer SHOULD be a low ball offer to see where you stand. The sellers reponse will let you know how negotiable the price is.
Don't be afraid to haggle. Try to get them to throw in the appliances and possibly the window treatments. stuff like that.
2006-12-20 15:27:25 · answer #3 · answered by Louis G 6 · 0⤊ 1⤋
everything in real estate is negotiable check the prices of comparable properties that have sold in the same area recently and go from there
2006-12-20 15:34:38 · answer #4 · answered by wookie 3 · 0⤊ 0⤋
Its a buyers market. You can offer anything you want it is up to them to accept. Its called negotiating
2006-12-20 15:30:39 · answer #5 · answered by terry h 2 · 0⤊ 0⤋