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    royal's Avatar
    royal Posts: 3, Reputation: 1
    New Member
     
    #1

    Oct 21, 2006, 06:57 AM
    Slump in Realestate Market how to negoiate a realestate deal on new house
    Want to purchase a new house which has constructed already which is a year old never
    Bought by anyone, A realestate is listing the house, however since the realestate market
    Is in a slump. Want to know the best way to negoiate a good price without paying the fulling asking price for it which includes sellers assistance.
    walt17's Avatar
    walt17 Posts: 335, Reputation: 28
    Full Member
     
    #2

    Oct 22, 2006, 06:07 PM
    Make an offer which is less than what you want to pay. See if they make a counter offer. If not you can always go up, if you want it.
    Walt
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #3

    Oct 22, 2006, 07:38 PM
    Make a offer is the way you do it, you call the real estate company up and look at the home and then make a written offer for the terms you want.

    They will say yes or no or perhaps make a counter offer.
    VegasRealEstate's Avatar
    VegasRealEstate Posts: 12, Reputation: 6
    New Member
     
    #4

    Nov 24, 2006, 01:35 PM
    Homes are selling all over the country for below list price. I would suggest having a Real Estate Agent representing you, since you don't pay them, the seller does. This way the Real Estate Agent knows what to place in the contract to protect you and get you the best possible deal.

    Good luck!
    jenni9's Avatar
    jenni9 Posts: 40, Reputation: 5
    Junior Member
     
    #5

    Nov 27, 2006, 10:12 PM
    First, if it's in a subdivision, the builder will typically want to "keep up the comps (comparables of other homes that have sold or recently sold) in the area. In the area where I work in real estate, what seems to work in keeping up the "comps" is to offer full price, or close to it, while asking for upgrades, closing cost assistance, and/or extra landscaping. If you're using a lender, find out what the maximum " seller concessions" is allowed. In my experience with lenders it's been no more than three percent of the purchase price. Find that out before making the offer. Also be sure to get a "good faith estimate" of the anticipated closing costs.

    Chances are if it's a new construction the builder needs to cash out, depending on his situation. THIS DOESN'T MEAN making a low-ball offer. You could really "blow it" by doing this. I've had SEVERAL situations of sellers refusing to even work further with buyers who insulted them from the beginning by making a low ball offer.

    If it's the "perfect" home for you, then go for it, and give it your best shot, but DO make sure you have a BUYER'S AGENT representing you. The best way to find out what a seller will accept is to make an offer. Find out what other similar homes recently sold for before deciding your offer. And if it doesn't work out, don't get discouraged. I've always found that "everything happens for a reason".

    There are a lot of creative ways to make this work; my advice would be to ask family and/or friends of a reputable real estate agent to represent YOU and your best interests.

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