I've Bought a House!
Janis_G
16 years ago
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sheila
16 years agolast modified: 9 years agoJanis_G
16 years agolast modified: 9 years agoRelated Discussions
Bird of paradise
Comments (1)Sorry I couldn't figure out how to get this with the other post. Now it will over on and not stay on top...See MoreHow Do You Negotiate Price of Brand New House?
Comments (7)We negotiated a price reduction on the house we recently built. It was from a single builder upscale neighborhood of semi-custom to custom houses. What we did was take one of their floor plans and met with them on several occasions and had them change the floorplans/elevations to our liking (in our case we added square footage, rearranged the floorplans and changed the front elevation). They then gave us their proposal of what it would cost with the changes. We could tell that they were really anxious to sell. So we made an "offer" to them for about 10% off their total price. They accepted. Our thought was that it never hurts to ask....See MoreHow Do You Negotiate Price of Brand New House?
Comments (10)In our area, builders are beginning to negotiate on spec houses because inventory is too high. However, they are not yet negotiating on to-be-built houses. The savings on buying an existing new house may be worth the trade off of not getting exactly what you'd like. For example, a couple I know recently bought a builder's spec house that was originally listed for $849K for just $699K after some intense negotiating. They loved the lot and location, but weren't entirely wild about the house. However, they believe they can put $50K+ into changes and upgrades and still have a good value. A RE agent friend has recently persuaded a few builders to come down $100K - $200K on houses reduced to $1.1MM - $1.3MM. These same floorplans sold two years ago for $1.5MM - $1.7MM with similar finishes and on equivalent premium lots, so you can see that the builders thought they had already reduced their prices to rock bottom. Folks who insist on building here are not seeing any reductions. Whatever savings there may be in materials costs are more than being offset by increased fuel prices, and we're seeing higher labor costs and higher delivery fees. That's a long, round about way to get to the answer. Sorry. I think that if you find a new house that you like well enough you could try to get a bargain by putting up a large earnest money deposit along with an offer to close quickly, and give the builder 24 hrs. to respond. If the answer is anything but yes, walk away and try a different builder. If you really love the first house, give it a week or two and try again, perhaps with 10% or 20% earnest money to show you mean business....See MoreSleazy Investors
Comments (13)Wow, if someone is just outright rude, that's not a reason for you to feel constrained - I'd have told him what to do with his ideas! Why, one never knows when they will meet again. I own investment property and have had phone calls for years from brokers. Most are very nice and I tell them nicely I'm not interested in buying or selling, but to call again in 6-12 months. Some are funny that they tell me NOW is the time to sell, property is crashing, get out now before it is too late. Of course they want my listing to sell to a buyer who they are telling NOW is the time to buy. Also when I tell them I don't want to sell, they ask if I want to buy, as they have a nearby property. This is after they've tried to convince me I MUST sell now as the market is crashing. One broker, after I told him I already worked with another broker in his office was irritated and explained to me there were plenty of other good brokers, not just John. He was rude but I always stay nice and get off the phone. Real Estate is a small world, fair or not, I don't want to make any bad relationships. Who knows, that irate M&M broker might hold a listing I want in the future. Another agent may not bring buyers if they have a personal grudge or think you may be difficult. We still laugh about a neighbor coming over when I bought a fixer down the street from her. She asked how much I paid, then looked at my kitchen sneering about how small it was. Funny thing I remodeled it, sold it for double the price. She was shocked the weekend we moved out when she asked what we sold if for. Almost fours years later her house is still on the market for about 50% her original asking price. I didn't get mad, I laughed all the way to the bank....See Moreplantphreak_ca
16 years agolast modified: 9 years agoJanis_G
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rob333 (zone 7b)