Advice on offer to purchase

[Smooth Criminal]

Hey guys

Considering buying a place for R710k. The seller is willing to consider all offers. What do you guys think would be a reasonable offer to make? I don't want to go too low, have my offer to purchase rejected, and then have to go through the process again.

It's a nice place and I do really want it, so i only want to go through this process once before anyone else puts in a successful offer. The figure I had in mind is R695k or R700k.

Thanks

 

[Dragonman]

Hi, depends on the market value of similar places. If the guy has really priced low then your offer will definitely be accepted. But usually you can go between 15-20% less than asking price and this will be accepted without a fuss!

Hey guys

Considering buying a place for R710k. The seller is willing to consider all offers. What do you guys think would be a reasonable offer to make? I don't want to go too low, have my offer to purchase rejected, and then have to go through the process again.

It's a nice place and I do really want it, so i only want to go through this process once before anyone else puts in a successful offer. The figure I had in mind is R695k or R700k.

Thanks

 

[Claymore]

Also, if it's not quite what the seller wants, and he hasn't had better offers, he may just negotiate with you.

 

[Viper25]

Hi, depends on the market value of similar places. If the guy has really priced low then your offer will definitely be accepted. But usually you can go between 15-20% less than asking price and this will be accepted without a fuss!

15 - 20 % less than asking price?
Thats way too much.
Its more like 3 - 10 %

 

[rorz0r]

Take 20% off. Make an offer. He will probably tell you how much he actually wants.

 

[Smooth Criminal]

Thanks guys, although I think I got lucky Offered 650 this weekend and we negotiated until both sides settled on 670.

It helped that they were also looking to buy elsewhere and were trying to move to a larger place (second kid on the way), so they can't make an offer until they sell their place first. It's in Randpark Ridge - 2 year old complex, 98 square meters, 2 bedrooms, 2 bathrooms, lounge, dining room and large garden. So I think it was a very reasonable price