Real estate General topic

[WinterDeere]

Yep... that's exactly what I'm learning. Trouble is, haggling is against my nature. I truly hate it.

Usually, just telling my customers I'm a terrible businessman, or a better engineer than entrepreneur, gets me some instant leeway.

Real-estate can be tougher, as the money that's changing hands is often someone's nest egg or retirement, and there's much more emotion tied to the deal.

 

[paulsharvey]

On the haggling, we wouldnt have toured this place if they hadn't said "taking all offers"; and although we moved a bit on the price, we were/are pretty much at our hard cap. So, yes, we might negotiate on the survey (depending on what that costs exactly), but I don't enjoy the haggling either.

When I worked with an engineering services company that did a lot of survey (not mortage stuff, roadway and utility stuff), we were right around $3000/day for a 3 man crew; and then around $300-500 per hour for the actual surveyor to review and sign. Being so recently built, even if the seller used a different surveyor than the original, they likely didn't have to take it back to section corners, and all that. I'm guessing it was a, find and verify prop corners most likely.

 

[2manyrocks]

If the seller is supposed to provide the survey, I think you need to let that cost fall on the seller.

What I would do is to remind the agent that if the seller has to re-list the property for sale because the property won't appraise and the seller refuses to budge on the price, odds are the next offers will be much lower and who knows how much longer before the property finally sells?

 

[paulsharvey]

I think we are coming down to a workable compromise, but the closing May need to be pushed back. I know the seller was meeting with their agent Saturday morning.

Apparently the seller hasn't even ordered the survey, but has written quotes. They wanted to make sure appraisal was final before they spent that money out of pocket (understable, as we have done the same thing with the 12 months of insurance, no point iy paying till the last second); BUT, the survey will probably not be able to be finished on time to meet closing date.

My understanding is we have all come to a verbal agreement basically; but there is a difference between seller in principle being willing to drop price to meet appraisal, and them actually signing the new sales agreement.

 

[paulsharvey]

If what we have all agreed to in principle happens, it will be long term better for us; but it will have us scrambling next week to line up moving parts, contractor outside our control, bank stuff, ect.

 

[djohn550]

It sounds like you're approaching the situation thoughtfully, balancing the financial aspects with your desire for the property. When you attend the viewing, make sure to be transparent with the seller about your budget constraints. Offering $350k is a fair approach, especially if that's the max you're willing to go. If the seller is motivated, they might be open to negotiation, especially in a rural area where properties may sit on the market longer.

Interestingly, I recently came across some listings for Apartments, Properties, and Villas for sale in Marbella. Although it's a different market, the principle of sticking to your budget while exploring your options is universal. In Marbella, there are many properties where you can compare prices and amenities to ensure you're getting the best value. If you're ever considering a property in a different location or even abroad, like in Marbella, it's essential to keep these negotiation tactics in mind. It might be worth checking out the property for sale in Marbella to see how they handle pricing and negotiations; it could offer some useful insights for your current situation.

 

[paulsharvey]

Well... seller has met with their agent again, and asked us to pony up another $3k in cash, plus the survey. Spoke with wife, and we said nope. Survey is fair, I think, but appraised value and we pay for survey, not appraised, plus $3k cash, plus survey. Wife's words "they gonna come back again tomorrow and want another $3k, I'm sick of this, we already agreed verbally to something".

It may seem like small potatoes, but you have to say enough at some point.

 

[tradosaurus]

Well... seller has met with their agent again, and asked us to pony up another $3k in cash, plus the survey. Spoke with wife, and we said nope. Survey is fair, I think, but appraised value and we pay for survey, not appraised, plus $3k cash, plus survey. Wife's words "they gonna come back again tomorrow and want another $3k, I'm sick of this, we already agreed verbally to something".

It may seem like small potatoes, but you have to say enough at some point.

At this point I would force them to lower the price for your aggravation

 

[2manyrocks]

If they aren't offering you any incentives in return, why offer another $3k? If they were going to throw in the grapple and the other tractor implements for $3,000, I might do that.

 

[paulsharvey]

This actually crossed my mind.
So, I know it seems like I pushed them and the survey kinda strong from the get-go; but there is a reason. If a deal falls through, the seller still has the survey (an asset) to show for their expense. If a buyer pays for the survey, and things fall though, that's just spent money, and a useless asset (a survey for property you don't own).