Highest % off asking price you've negotiated?
- Thread starter hobo-jo
- Start date
Ours generally are 10-15% below asking price when it is a regular sale.
Once we negotiated 40% off, but because of our inexperience and the mortgage was so low..the sale fell thru.
Generally the conditions mean more to us, than reducing the price, and offer full asking price. This when we can convince the owners to sell us the property in stallments and no interest.
If they provide Vendor Financing we will pay interest (slightly above market)
Once we negotiated 40% off, but because of our inexperience and the mortgage was so low..the sale fell thru.
Generally the conditions mean more to us, than reducing the price, and offer full asking price. This when we can convince the owners to sell us the property in stallments and no interest.
If they provide Vendor Financing we will pay interest (slightly above market)
11% has been the highest so far.
Old man was waiting for the money to contribute to his son's new PPOR. I hope he was moving in too...
Old man was waiting for the money to contribute to his son's new PPOR. I hope he was moving in too...
Over 40% (and much greater) several times..(includes land blocks and properties).
I researched (and followed up well), I also was keen to go where angels fear to tread on one occasion. By that purchasing something mainstream buyers did not want. See potential in a deal that others cannot/will not. Simple as that.
So, I credit:
-My research
-Opportunist
-Preparedness to buy/act and work intensely where necessary
-No fear
-Networking
-Determined to build my asset base, as opposed to my *** base
-A fantastic Team Obsession
It's all good.
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....incidently, I would add paying full asking price is not necessarily a 'bad' thing either, (and not that anyone has suggested it is btw), but sometimes if you give you will receive...meaning paying for the ask price on say a property, but getting early access to it to 'do stuff' or a very long settlement, or a short settlement negotiations...get the drift?
My mind is like the drink fridge at a country bbq on a hot summer's night.
My mind is like the drink fridge at a country bbq on a hot summer's night.
What ?? Empty...bone dry...everyone's been through it ??
We alls luv ya OO, but your saying is a tad perplexing.
More than a few of mine seem to be uncannily around the 94.5% of asking price. That is 5.5% for the poll.
Note : asking price is not a fixed or relevant reference point that anyone, especially a buyer, can rely on.
We've bought when the sellers were ;
Note : asking price is not a fixed or relevant reference point that anyone, especially a buyer, can rely on.
We've bought when the sellers were ;
- Getting divorced
- Business going under due to their main truck being in an accident (idiot in a car decided to commit suicide by driving straight into it cracking the engine block) and then the insurance company refusing to pay out until the coroner gave the police his final report. 3 years was too long to hang on.
- Elderly sisters wanted the cash to retire on
- Huge company wanted to get rid of their smallest asset
- Investors got greedy, refused a higher cash unconditional bid at auction, then held on for 18 months until we came along and offered them bugger all which they took
- Elderly lady wanted to go into a nursing home and the kids wanted their inheritance early
- Another divorce
- He wanted some fishing money
- Developer ran tight of cash and just needed to shift it
always open?
-Mouldy
-Seals stuffed
-Too hot
-Empty
-In need of replenishing
Spiderman nailed it tho'.
-Seals stuffed
-Too hot
-Empty
-In need of replenishing
Spiderman nailed it tho'.
depends on so many variables ... is the asking price above or below market, how long as the property been on the market, how desparate is the vendor?
i've paid full price for an underpriced property - i've paid up to 20% below asking for something that has sat for 6 months due to being overpriced - i average out around 10% below ... depends on the situation.
i don't remember ever paying above asking price tho
i've paid full price for an underpriced property - i've paid up to 20% below asking for something that has sat for 6 months due to being overpriced - i average out around 10% below ... depends on the situation.
i don't remember ever paying above asking price tho
Money for fishing eh?
Country AA bbq?
Our most recent purchase was 11% below the asking price. Vendors were getting divorced and wanted to finalise things after being separated for a while.
I am a firm believer in 'you make money when you BUY' as opposed to when you sell. We've only ever felt we've 'got a bargain' when the vendor's situation was dire, ie. business in trouble; divorce; poor health; job loss, etc. I don't even bother looking at property where the vendor is 'trying their luck' and 'doesn't really need to sell'. Next...
I am a firm believer in 'you make money when you BUY' as opposed to when you sell. We've only ever felt we've 'got a bargain' when the vendor's situation was dire, ie. business in trouble; divorce; poor health; job loss, etc. I don't even bother looking at property where the vendor is 'trying their luck' and 'doesn't really need to sell'. Next...
Yes it commonly referred to as the 3 D's to identifying a motivated vendor -
1/ Death
2/ Divorce
3/ Da Bank (debt)
