I think you are looking for exact numbers. While someone might respond with that info, it is very hard unless the person in intimately familiar with your local area. It isnâ€™t that the Trulia responders donâ€™t want to be helpful, they just know that they could answer it for their backyard, but not for you being in another state.
Here are a few of the variables and a few hints:
How are the builders sales going at that project? At other projects?
If a builder needs to pick up sales, or cash flow, you can see an up tick in flexibility.
How hungry is the individual builder representative? If they need another sale under their belt, the may push harder.
How are sales in competing projects going? Is there another project in the area that might reflect a competitive threat to the project of your interest?
Find out how many units have sold there in the last 30/60/90 days and compare to a similar project.
Good Luck. Glad to hear that you have a buyer agent!
If the agent is also working with the seller, at best they can be dual or non-representation. Neither of those options are an advocacy for you to bargain for the best deal. If you are working with a builder, your ability to bring in your own representation now might be challenged. You can still ask!
I am a strong advocate of buyers having their own buyers agent.
If you are on your own.....here's my tips:
Expect to make some concessions yourself (accept no as an asnwer from them).....
Work those into your give and take
Don't sign until you resolve all the issue on your plate.
Dont' put all your items on the table at one time.
Nibble your way through concessions.
If you have a partner, friend, or spouse, engage them in a good guy/bad guy conversation
Try to get the other side to speak or commit first.
Cover your important points in a power question and after delivering the question, remain silent and maintain eye contact. Don't buckle under silence. Keep quiet.
Ask questions and find out what the priorities are on the other side of the table and use those in your trade off discussions.
Evaluate all upgrade options and make your own list of the ones which are most important. Ask for a few of the lesser expensive ones and concede on those by either agreeing to pay or eliminating. Test your discussions on lesser important or lesser expensive items first to gain insight into the pattern and responses you receive.
Keep us posted!
You showed your hand and have lost some negotiating leverage. But in a buyers market, it may not hurt you too much. Just be firm in your willingness to walk away. And mean it. The bigger question here is why don't you have a buyer's agent representing your interests? A buyers agent, in almost all cases, is provided at no expense to the buyer. Also, have you done your homework on the Cary area? Are you certain that you are paying a fair price? Are you confident in your knowledge of the short and long term implications of your purchase and how the market's future (up or down) will affect this large investment? Please find REALTOR to represent you. Get referrals from friends and family to find a good one. Best of luck!
If you have not signed anything, GET A REALTOR (BUYER'S AGENT). It cost you nothing!!!! They know how to deal and will save you money. More importantly, they watch out for you. I will be more than happy to refer you if you need some names.
Also John, DON'T FALL FOR YOU HAVE TO USE THEIR MORTGAGE PEOPLE. Call me to find out how not to (but still get the discount) and for the full 411 on why not to use them. Connect through my website: http://www.mortgagesfrombill.com
Nil Varinca, REALTOR, SFR, ASP
Keller Williams Realty Cary
201 Shannon Oaks Circle, Suite 101
Cary NC 27511
919 882 3292 Office | 919 272 8796 Mobile | 919 459 6867 e-Fax
If you have a buyers agent, you need to ask him/her these questions. As a local REALTOR, he/she is your absolute best resource. Any information you receive here will be general, and may not apply to the specific neighborhood you are considering. Call your buyers agent now.
As I have informed earlier, I have chosen the lot. The base house is $470000. The lot premium may be $8000-$15000. I am looking forward to add 30K in otpions with granite countertops, stainless steel appliances, bathroom downstairs, a sunroom and berber carpet . What is a good bargain in this market?
I'm glad to hear that you hired a buyer's agent, and you need to get the values from that buyer's agent. These values will be very specific to the transactions that are occuring in the very neighborhood and surrounding neighborhoods where you are buying. Your agent will be able to pull information from the mls and compare what you are building to recent sales in the same neighborhood and compare finishes of those homes to what you are building. In this buyer's market, the agent will help negotiate your final price within market norms, keep him/her involved in the upgrade negotiations. I recently had a listing client who originally overpaid for their new construction home, without a buyer's agent. The builder actually charged them an additional $15,000 in upgrade fee because they wanted carpet when hardwoods were standard. That's just one of the charges that a buyer's agent would have not allowed. Engage your buyer's agent in this process.