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richardhughes

Negotiating purchase price

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We are looking to buy a couple more properties this year.

 

Reading Rich Dad Poor Dad he encourages putting in a “cheeky” offer on the basis that some people have been waiting around a few months and just want or need to move. The past 3-6 months have been slow although I think there is now movement in the market. In the past week I have put in some cheeky offers but only about 10-12% below asking price and I think I have rubbed sellers up the wrong way with these low offers making on going negotiation difficult. 

In the current market, what are people’s views on negotiating a purchase price. 

Is there a university topic on this? Perhaps an ask a Rob And Rob?

 

 

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Hi Richard,

Email your offer to the agents

In your email list your mortgage company, solicitor/conveyancer, amount of deposit, brokers details, your contact details

State offer price and the reasons why

There is no hard and fast rule on how much to offer below listed price.

Eg. If you believe the property is already 10% below market value as advertised, are you then going to throw in a cheeky offer of 15% off this price and risk upsetting the vendors and agents.

Or do you seize the opportunity and actually negotiate a price using your purchasing situation, property knowledge, personal charm and seriousness to complete on the sale.

It's called negotiating for a reason. You try and find out as much about the property and the vendors as you can and see if you can solve their property dilemma of their property sale.

In return you wish to have a discount on the price.

Happy to chat more about this subject if needed

Conrad


Conrad Paton

+44 7957 959851

conradpaton@yahoo.co.uk

https://www.linkedin.com/in/conrad-paton-424446110

 

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