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Nia, Home Buyer in

HOW TO GET THE SELLER TO COME DOWN ON THE PRICE OF A HOUSE ?

Asked by Nia, Mon Dec 17, 2012

HOW TO GET THE SELLER TO COME DOWN ON THE PRICE OF A HOUSE IF IT NEEDS WORK DONE TO IT ?

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11
This is a complex question. Did you check the comparables for that property before you submitt your offer? If the seller is asking a market value price, is up to you submitt an offer with that price and any other negotiation will be conducted after the inspection is done.

Best of Luck,

Maria Cipollone

Century 21 Tenace

http://www.Flahomespecialist.com
1 vote Thank Flag Link Tue Dec 18, 2012
Good Evening Nia,

Practical + Educated Sellers should base their Sale prices on the CURRENT Market ... Not their emotions.... do the Data and present your just cause of your offered price based on Data Data Data and Condition with Location.

All the Best, Enjoy your Holidays, John + Sheri RE/MAX 1-866-473-6290
0 votes Thank Flag Link Tue Dec 18, 2012
This is a loaded question. Usually the seller and the realtor take into mind that the house needs work done to it so it is unlikely that they may come down. You can always make an offer :)
0 votes Thank Flag Link Tue Dec 18, 2012
Hello,
Sometimes that is hard to do. If the comparables are correct the seller may never come down. If the seller has done everything to the property, the seller wants his proce. It might be a buyers market but the realtors & sellers have adjusted their price to accomidate the market.
0 votes Thank Flag Link Tue Dec 18, 2012
Hi Nia:

This is a negotiating problem similar to many other bargaining issues.

The seller you mentioned could just as easily be asking how to get you to come up in price. In truth, it is hard to convince anyone to change their bargaining position (in this case an asking price) simply because you disagree.

It is often possible to get behind a person's bargaining position to discover the "why" of the position. The seller may, for example, simply be mistaken about the market value of the house, in which case Sarah's answer below (presenting appropriate comparable sales) may be the answer. On the other hand, the seller may have set the price high because a lower price would require the seller bring cash to closing. In this case, proving the price is high for the market probably will not work. It does not solve the seller's problem.

However, proposing a short sale might be a winner for everyone.

But you cannot "get the seller to come down" just because it seems logical to you. It must also seem logical to the seller. And that mean you must understand the reason behind the sellers price and offer another solution. So I would suggest you have your agent go back and ask a lot of questions about the seller's bargaining position to see if you can find a solution that works for you and the seller.

Hope this helps.

Ron Rovtar
Prudential Real Estate of the Rockies
Boulder, CO
0 votes Thank Flag Link Tue Dec 18, 2012
Have you realtor negotiate for you if you do not have a realtor find one familar with your area
0 votes Thank Flag Link Tue Dec 18, 2012
Great answers. What kind of work is needed? If this is the house you really like... make an offer contingent on an inspection. The inspection report may help in the negotiation of a lower price. And as mentioned already... it could be a blessing in disguise if the report finds that the home needs major repairs. Find yourself a buyers agent who is familiar with the area and let them assist you in buying your home.
0 votes Thank Flag Link Tue Dec 18, 2012
You can lead a horse to water......
It also may be a blessing in disguise....you might just find a better home.
0 votes Thank Flag Link Tue Dec 18, 2012
As Eli and Sarah advised. "Make an offer and state you case."
If you argument does not align with the goals/needs of the seller, NO DEAL.
If they do you will find greater room for negotiation.
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The seller may have the stats that support the asking price if reflective of the current condition.
Take care before beating that drum.
Best of success to you.
0 votes Thank Flag Link Tue Dec 18, 2012
There are numerous of ways you can go about purchasing a house. The best way, in my opinion, is to sit-down with a buyer agent and talk about a plan of action, a buying strategy. Now you have someone representing your best interest, with all the tools and knowledge.
0 votes Thank Flag Link Tue Dec 18, 2012
Make an offer and back it up with comparable sales in the area. Use a buyers agent to help you.
0 votes Thank Flag Link Tue Dec 18, 2012
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