Home Price Negotiating
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as far as price drop...that would be nice to drop from 270 to 230. depending on the market, it's possible. we bought a 265k house for 245 and thought that was very good. but the owner had the house marked up way too high.
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Let your realtor do the negotiating - that's what they are paid for and good at. And as the buyer, the seller picks up the tab so you don't gain anything by skipping working with a realtor.
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realtors are....IMO pretty slimy. it's in their best interest to get the highest price you're willing to pay...
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Yeah... the realtor actually works for the seller, not the buyer.
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Typically there are two realtors, one working for the seller, and one working as the buyer's agent. They will typically split a 6% commission down the middle, and the 6% comes out of the seller's portion.
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It's certainly possible for a $269K house to sell for $229K. Not super common, but very possible.
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We just looked at a house (casually, were not looking to buy so we got the inside scoop) that was listed for $300K (euros) but the buyer would take $200 (euros.) That's a much bigger percentage price drop.
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@MattSpeller said:
- One does not get what one does not ask for. After 220 days I'd be losing my shit if it wasn't sold and no one was living in it. YMMV.
We've been trying to sell one for six years at a loss. 220 days is nothing.
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down here 90 days and you should expect a nice discount.
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@scottalanmiller
Jesus!
Thats crazy -
2.5 years sold at a loss. and paid to get out of it.
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It'd have to be a supremely oddball property to not sell here after 6-8mths. Property is very hot here, has been for as long as I can remember
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@MattSpeller said:
It'd have to be a supremely oddball property to not sell here after 6-8mths. Property is very hot here, has been for as long as I can remember
That's what they said in NYC before it all collapsed.
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@scottalanmiller if it did collapse all the locals I know would snap it up in a heartbeat (myself included) - I'd cheer and throw a party
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@MattSpeller said:
@scottalanmiller if it did collapse all the locals I know would snap it up in a heartbeat (myself included) - I'd cheer and throw a party
You would be amazed how quickly a depressed market saturates with the people who are actually interested in buying.
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@scottalanmiller we have all the warning signs of it too, but foreign capital & eastern Canadians are pouring in like a tidal wave.
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@Nic said:
Typically there are two realtors, one working for the seller, and one working as the buyer's agent. They will typically split a 6% commission down the middle, and the 6% comes out of the seller's portion.
AFAIK, they both work for the seller unless one is specifically hired as a buyer's agent.
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@Danp said:
@Nic said:
Typically there are two realtors, one working for the seller, and one working as the buyer's agent. They will typically split a 6% commission down the middle, and the 6% comes out of the seller's portion.
AFAIK, they both work for the seller unless one is specifically hired as a buyer's agent.
You always hire a buyer's agent. Otherwise you are in a weird situation. You should have an agent before things get started unless you really know what you are doing. We use an agent whenever we do it and @dominica is a certified Realtor too! But not an active one.
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@thecreativeone91 said:
@Danp said:
Yeah... the realtor actually works for the seller, not the buyer.
Unless you hire them.
I've never heard of someone hiring a realtor for purchasing (though I guess if your Warren Buffet you might). Normally the buying and selling realtors split the commission in some fashion, but yeah... that means they both end up working for the seller because the higher the selling price, the higher their commission.
