Buying A House - Page 2

ronwest · 01-12-2006, 12:34 PM

Quote:

Originally Posted by XYGTHO

Very smart buying. :hihi:

I dislike haggling. It really grinds my gears to be caught up in a "can we get just a little bit closer" routine.

The only house I've ever been emotionally attached to was the first house my new wife and I rented (30 years ago). It was where three of our four kids were conceived and I guess the newly married thing was all brave new world stuff, lol.

None of the houses we've bought meant anything to me at the time of purchase. They were all literally merely a place to hang my hat ;)

My wife and I are fairly easy going; we figure that there are thousands of houses out there that we'd be happy to live in.

Based on that premise, for us it has to be an easy purchase or it won't happen at all ;)

XYGTHO · 05-12-2006, 11:56 AM

What general percentage would people offer. Say a house is $200,000 would an offer of $170,000 be to low? Should you offer like 80% or 90%?

knighto42 · 05-12-2006, 12:12 PM

I asked the same question as you when I bought my place and couldn't get a definite answer out of anyone.

Having bought a grand total of 1 house in my life I'm no expert, but I don't think there's anything wrong with starting low. The worst they can say is no - and you never know - you might get lucky enough that they take it. We went in at about 85% and they came down a bit, then we met in the middle.

That being said though, I've heard people say not to go in too low or you could risk ****ing off the seller making them less open to future negotiations.

**Mechan1k** · 05-12-2006, 12:19 PM

When I was looking at the house I bought (at the time) ... the owners saw we were interested and dropped $100,000 off the price ... and we talked them down another $50,000 after that.

The reason for the big drop was the intial price of the property (2 houses on a 10 acre block). Made it more appealing for us (and my brother-in-law and his wife as well).

We really didn't have to haggle with it .... and I think they needed to sell the place so they made it attractive for us.

XYGTHO · 05-12-2006, 12:49 PM

OK. 85% sounds like a good starting point. I have found a place for 200,000 so if i offer 170 i think i should be safe. I'm still yet to look at it, but am very keen. Its outta town and about 15km from work but has a nice 4bay shed and a roomy low block house on a 800m2 block of land. Plus hlaf the back yard is cemented off from the shed so not much mowing and perfect for working on cars. Wanted to buy in town but might have to compromise as in town you can get nothing pretty much under 250g thats any good now.

ronwest · 05-12-2006, 01:14 PM

Obviously, the selling price will depend on the sellers circumstances.

If the property is advertised too high and the seller *has* to sell, the market response will allow the seller to modify the price.

If the seller is in no hurry to sell they may or may not modify the price.

When I buy a property I know what properties in the area sell for. I then work out a price that I will pay and offer it. If the seller does not accept the offer, that's fine.

If you don't mind a bit of "to and fro" there is no price that is too low but you do want to be taken seriously.

In your circumstances I would think that 170k is a serious offer but I reckon it will sell for 182k - 185k.

Let us know how you go... ;)

XYGTHO · 05-12-2006, 01:53 PM

Quote:

Originally Posted by ronwest

Obviously, the selling price will depend on the sellers circumstances.

If the property is advertised too high and the seller *has* to sell, the market response will allow the seller to modify the price.

If the seller is in no hurry to sell they may or may not modify the price.

When I buy a property I know what properties in the area sell for. I then work out a price that I will pay and offer it. If the seller does not accept the offer, that's fine.

If you don't mind a bit of "to and fro" there is no price that is too low but you do want to be taken seriously.

In your circumstances I would think that 170k is a serious offer but I reckon it will sell for 182k - 185k.

Let us know how you go... ;)

Will do mate. Have to have alook at the place first. Has only just gone up for sale and rang the realestate today. I would be happy if i could get it for between 180k and 190k. Hopefully the price they have on the add is the correct one and its not actually 300000.

XYGTHO · 06-12-2006, 12:32 PM

06-12-2006, 12:52 PM

Very very very nice garage/shed the place has

XYGTHO · 06-12-2006, 01:10 PM

I know. Its the best part. Has plenty of power and lighting too. No three phase but has 15A outlets.

XYGTHO · 06-12-2006, 04:08 PM

They were not happy with the offer of $170,000. They had 200,000 on it cause they didn't know what they want for it. Now there saying they want nothing under 200,000. :evil3: I passed on an offer of 180,000 and said thats it. Its pretty much my limit. Probably get declined but had a go. Might rent until i get a better wage one day.

EA2BA · 06-12-2006, 04:22 PM

Quote:

Originally Posted by XYGTHO

They were not happy with the offer of $170,000. They had 200,000 on it cause they didn't know what they want for it. Now there saying they want nothing under 200,000. :evil3: I passed on an offer of 180,000 and said thats it. Its pretty much my limit. Probably get declined but had a go. Might rent until i get a better wage one day.

Don't stress, they wil wake up to themsleves, you would be surprised how many no they wont accept, then suddenly they do, don't spend what you can't afford. Simply keep looking (of course look for too long and prices go up), with current interest rates I dont see prices going up by much if anything till after 1st qtr next year.

XYGTHO · 07-12-2006, 09:22 AM

Offer of $180.000 was declined and they don't even want to negotiate. Who said its a buyers market. The ,arket over 300,000 it may be because not many can afford that and thats how much most homes are now. This is becoming impossible. Even to find somewhere to rent with a lockup garage for the XY is in excess of 250 a week. :gren: