Hi all,
I'm back from holidays and putting offers again.
I put an offer on a 3 BR villa in Sydney's West. The asking price is offers around $245,000. I put an offer of $230,000. This is based on the most recent sale of a renovated villa in the complex for $230,000. Albiet the one I am looking at is more modern than that one. This property has been on the market for a few months now. According to the agent, the vendor's liabilities are greater than what I am offering. RP Data suggests vendor (who is owner occupier) purchased it for $218,500. This is a retiring couple. The upside I see is that this is probably the best villa (internally) in the area on the market right now. As well as there are other 3 BR villas (unrenovated) listed for $250k+.
The vendor was naive enough to tell me that they bought it in this renovated condition 8 years ago. While the agent was trying to market as if they had spent a lot of money renovating the place...
So the agent has come back with $239,000 and again re-iterated their "liabilities". It's not much of a benefit to me to offer much higher (may be slightly more than what I already have) as the property will be quite negatively geared.
I have told him that I will call him after 7pm. I am considering doing my numbers and possibly offering another $900. Feeling a bit stingy about it. But negotiation is part of the game...
I'm also open to offering them 4 weeks settlement (of course once I have my bank contact agree to this)
Any suggestions? Comments?
I'm back from holidays and putting offers again.
I put an offer on a 3 BR villa in Sydney's West. The asking price is offers around $245,000. I put an offer of $230,000. This is based on the most recent sale of a renovated villa in the complex for $230,000. Albiet the one I am looking at is more modern than that one. This property has been on the market for a few months now. According to the agent, the vendor's liabilities are greater than what I am offering. RP Data suggests vendor (who is owner occupier) purchased it for $218,500. This is a retiring couple. The upside I see is that this is probably the best villa (internally) in the area on the market right now. As well as there are other 3 BR villas (unrenovated) listed for $250k+.
The vendor was naive enough to tell me that they bought it in this renovated condition 8 years ago. While the agent was trying to market as if they had spent a lot of money renovating the place...
So the agent has come back with $239,000 and again re-iterated their "liabilities". It's not much of a benefit to me to offer much higher (may be slightly more than what I already have) as the property will be quite negatively geared.
I have told him that I will call him after 7pm. I am considering doing my numbers and possibly offering another $900. Feeling a bit stingy about it. But negotiation is part of the game...
I'm also open to offering them 4 weeks settlement (of course once I have my bank contact agree to this)
Any suggestions? Comments?