Any tips for negotiating home price?

[suniversal]

I found a two family home I am interested in purchasing the list price is at 959k. Setting up a meeting on Monday to discuss my offer would 865k be reasonable? with a 30% down payment. If anyone has any insight or advice please let me know. Thanks

 

[megatron]

Originally Posted by SuNiversal

the list price is at 959k.

My man

 

[yanks7384]

will a real estate agent be involved? i recommend it, and they'll handle negotiations.

 

[suniversal]

Originally Posted by yanks7384

will a real estate agent be involved? i recommend it, and they'll handle negotiations.

I been finding the listings online and setting up meetings myself with the sellers agent. I checked 6 listings and one finally caught my eye and want to act on it.

 

[brotherforreal]

I thought 450k was doing it =(

 

[solegit08til]

Don't come out and say you want to put 30% down. Start at like 25% and $840,000. Give yourself some wiggle room.

 

[lazyj10]

Yeah, have cash.

 

[i won]

Get a home inespection, then go from there. They will give you a bunch of angles for negotiation.

 

[suniversal]

Thanks for all the advice. I'll keep you guys posted on the progress.

 

[yngsimba.sneakershoebox]

Originally Posted by megatron

Originally Posted by SuNiversal

the list price is at 959k.

My man

 

[jeenewed]

Originally Posted by yngSIMBA

Originally Posted by megatron

Originally Posted by SuNiversal

the list price is at 959k.

My man

Doing it, he really was

 

[suniversal]

Originally Posted by yngSIMBA

Originally Posted by megatron

Originally Posted by SuNiversal

the list price is at 959k.

My man

Thanks guys..family has always been living in a apartment and after working hard in school, grad school, and at my current job I can finally purchase a home. Its been a long journey but saving and working hard has payed off.

 

[e3lal]

is this "THE" house or do you have other options?  That would affect how I negotiate.

On a side note, does any one know of any good books on negotiation?

 

[doublejs07]

Make sure you look at the comps in the neighborhood before making your offer....

 

[suniversal]

Originally Posted by E3LAL

is this "THE" house or do you have other options?  That would affect how I negotiate.

On a side note, does any one know of any good books on negotiation?

This is "THE" house...after looking at all the other options I always found one thing I didn't like with the house except for this one. One main point I was looking for is a two family house with a separate entrance so I can rent it to provide me with additional income. The other houses had one main entrance with access to upstairs and downstairs divided by a door. This one has a legit side entrance on the side of the house. The backyard is big and I am planning to add a two car garage with a deck/loft on top.

 

[mr jordan04]

250k down payment? I'm jelly

 

[rtdix214]

i mean getting a bank loan and using the 30% down at the bank will help, the realator will negotiate for you

 

[calibeebee]

bring the goons wit ya

 

[scientific method]

If you forego having your own agent and doing the negotiations yourself, you avoid that 3% commission they get and the seller can take that into account when setting the price. There's not a whole lot they do that you can't yourself, even looking at comps you can do so on a site like zillow.com trulia.com realtor.com

 

[nycposite]

congrats SuN

keep this updated. Im also looking at getting my first house (315-450k)

any tips would be helpful

Goodluck

 

[thenewjs23]

Who comes into NT asking advice on negotiating a 959k home?

 

[iceberg slim]

Buy 3 300K homes instead, not even a joke. 300k homes are going for like 180 now, you could prob get some nice 380k comes for 300. There are a plethora of options where can still get a really nice home and make your money work for you as well

 

[suniversal]

Originally Posted by thenewjs23

Who comes into NT asking advice on negotiating a 959k home?

I did my research and also wanted to get feedback from my peers on NT. We have many knowledgeable members and I feel that it is an added benefit.

 

[suniversal]

Originally Posted by Iceberg Slim

Buy 3 300K homes instead, not even a joke. 300k homes are going for like 180 now, you could prob get some nice 380k comes for 300. There are a plethora of options where can still get a really nice home and make your money work for you as well

I wish that was an option, I work in Manhattan and live in Brooklyn and cant find two family homes for that range.

 

[hombrelobo]

Have you looked at the comparables in the area? Checked out recent listings? Checked out recent sales? Checked out recent listed and selling prices in the area? Checked records to see if listed prices have dropped? The purchase history of the home?


All these will help you come up with figures that will help you determine a sound strategy for making your offer. PM if you need want to talk more about strategy. I would be more than happy to converse and shoot ideas back and fourth. If not.. good luck my man