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View Full Version : Slump in Realestate Market how to negoiate a realestate deal on new house


royal
Oct 21, 2006, 06:57 AM
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
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
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
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
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.