Quote:
Originally Posted by Captaincanada80
Bump...
Ive found through a reputable builder the exact place im looking for listed at 250K & im about to make my first offer this evening. My questions to all of you
* How much do builders usually look at taking off the list price?
* If im looking at settling at the 240K range, What would be a solid first offer.
* What points do I use as leverage if the rationalle of the offer comes up EG.(I won't be using a real estate agent essentally saving the builder 6K.
* How long do you wait to either counter there offer or call them if you haven't heard on the original?
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*Depends where they are priced in relation to comparable. They know how much higher then the market they are (if they are). Do you?
*Again, depends on the answer to your first question, but a 10K off offer isn't low at all based on proportion only. If they're over comparables, you should be going much lower.
*Comparables and comparables only. Not having a realtor shouldn't save you a penny. Why?
-It's illegal for developers to cut you a better deal because you don't have a realtor.
-Often, developers will actually give realtors advantages treatment because they want a good relationship with realtors who will bring back future business.
-Developers will be happy that you as a first time buyer have a realtor to ask all of your questions to, and to take liability for anything that comes up. Otherwise they have to be very careful what they tell you so they don't end up implicitly acting as your agent.
*All offers/counters are made with a time clause that states "open for acceptance until _____" I generally give 48 hours on a first offer, and about 24 on counters.
As a realtor, I recommend you get a realtor. If you think I'm biased, and don't want one anyway, fine. But then at-least find comparables, they are you're best bet for negotiation.