finding your ideal place

[stevewool]

Ok boys and girls once you have found the place that you think is right for you, can you beat trhe price down , is it a done thing or is the price they are asking the price you must pay for the place,
Also if you agree a price can someone come along and pay a higher price for it,
What other cost are to be added to price ie fees, costing and so on, thanks

[Jamesey]

Are you talking about buying a house in this country?

All I can say is that it's an absolute nightmare and I hope I don't have to do it again for a long time!

There must be a better system than the one we have, especially when a "chain" is involved. Some kind of bond ought to be employed when an offer is made on a house. It could only be £100, but it would deter the time-wasters.

[stevewool]

sorry i should have said, over in the phils i am looking at

[fred]

Its not easy for them to find a cash buyer in many areas here unless you are ahead of the curve and know how to market the gaff.. Getting gazumped here is pretty rare..lol
I think if you have found a place you like and have checked there are no liens etc (considerable task!!)
Offer them a silly price in crispy notes and walk away if they say "NO"!! ...and wait a couple of weeks..
This is to determine how desperate they are for those amazing and wonderful wads that you displayed to them!!
Like any Business Steve.. Everything is negotiable!!
IMO lang.

[RickyR]

I am in the process of trying to buy another lot in a nice subdivision, direct from a bank, repossession. I am starting with a pretty low formal offer.

[jake]

I am in the process of trying to buy another lot in a nice subdivision, direct from a bank, repossession. I am starting with a pretty low formal offer.

How much below the asking price? You could try 40%, as they sometimes want cash buyers only.
You are obviously a smart guy Ricky, however watch the banks, as they sometimes have a surprise up their sleeve.

[jake]

The simple answer is yes. There are also a lot of what-ifs. You could offer a lower price and someone else comes along and pays the asking price. Steve's dream home
Doesn't usually work that way in the Philippines but don't be fooled into thinking that some locals haven't got the money to buy the property. If there is money to be made someone will buy the property, especially if the area has commercial potential.
Just now we are trying to buy a property, as my dyslexic brain has worked out that within 7 years we will recoup the initial investment. The original price per sqm was to high in my opinion. We offered 30% below the asking price. The owner offered to drop the price by 15%, probably expecting us to meet in the middle and go up 15%. We decided at the start that our offer was fair and unless they drop another 15% we will walk away. The problem is the owner doesnt need the money, so is in no hurry to sell. Stalemate!

If the title is clean and there are no back taxes to be paid the other costs are fairly minimal.

[RickyR]

How much below the asking price? You could try 40%, as they sometimes want cash buyers only.
You are obviously a smart guy Ricky, however watch the banks, as they sometimes have a surprise up their sleeve.

I was considering 40% below, and will try and negotiate from that basis. It will be cash, which I am sure helps. They are offering a clean title and paid up taxes, however after getting advice on another forum will be doing some extra digging first to see if anything could be a problem with this. We have been watching some of the foreclosure lists for a while (I know its a bit grim, but someone has to buy them).