Update: Ive reached an agreement with the builder
So, On a townhouse listed at 250 775 I made my first offer @ 233 500 w/ an Aug 1st possession on Friday. They countered with an offer of 241 500 (9 225 off the list) with a June 30th possession on Saturday.
I then countered with 2 options:
Option 1: 238 250 With June 30th possession
Option 2: 240 000 with Aug 1st possession (4.3% off list price)
The builder accepted option 2 on Sunday afternoon
Thoughts: I choose not to bring in a real estate agent and felt it worked in my benefit, although I had to do all the leg work myself and at times was a hassel.
Although there is a preception that its a buyers market, Builders are still willing to negotiate 4-5% off listed prices to get deals done. They pushed fairly hard to get a June 30th possession (Quarter end) but in the end, choose the extra 2 grand over the list price showing that the units are moving.On a brand new townhouse far SE in the city, I was able to pay only $186/Sq Ft which is very aggressive (compared to $250-275/Sq Ft, when I was looking 3-6 Months ago)
Again, Thank you to all which provided especially Hulkrogan who correctly predicted the builders counter @ 241 500.
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