Home Price Negotiating
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Typically there are two realtors, one working for the seller, and one working as the buyer's agent. They will typically split a 6% commission down the middle, and the 6% comes out of the seller's portion.
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It's certainly possible for a $269K house to sell for $229K. Not super common, but very possible.
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We just looked at a house (casually, were not looking to buy so we got the inside scoop) that was listed for $300K (euros) but the buyer would take $200 (euros.) That's a much bigger percentage price drop.
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@MattSpeller said:
- One does not get what one does not ask for. After 220 days I'd be losing my shit if it wasn't sold and no one was living in it. YMMV.
We've been trying to sell one for six years at a loss. 220 days is nothing.
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down here 90 days and you should expect a nice discount.
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@scottalanmiller
Jesus!
Thats crazy -
2.5 years sold at a loss. and paid to get out of it.
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It'd have to be a supremely oddball property to not sell here after 6-8mths. Property is very hot here, has been for as long as I can remember
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@MattSpeller said:
It'd have to be a supremely oddball property to not sell here after 6-8mths. Property is very hot here, has been for as long as I can remember
That's what they said in NYC before it all collapsed.
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@scottalanmiller if it did collapse all the locals I know would snap it up in a heartbeat (myself included) - I'd cheer and throw a party
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@MattSpeller said:
@scottalanmiller if it did collapse all the locals I know would snap it up in a heartbeat (myself included) - I'd cheer and throw a party
You would be amazed how quickly a depressed market saturates with the people who are actually interested in buying.
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@scottalanmiller we have all the warning signs of it too, but foreign capital & eastern Canadians are pouring in like a tidal wave.
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@Nic said:
Typically there are two realtors, one working for the seller, and one working as the buyer's agent. They will typically split a 6% commission down the middle, and the 6% comes out of the seller's portion.
AFAIK, they both work for the seller unless one is specifically hired as a buyer's agent.
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@Danp said:
@Nic said:
Typically there are two realtors, one working for the seller, and one working as the buyer's agent. They will typically split a 6% commission down the middle, and the 6% comes out of the seller's portion.
AFAIK, they both work for the seller unless one is specifically hired as a buyer's agent.
You always hire a buyer's agent. Otherwise you are in a weird situation. You should have an agent before things get started unless you really know what you are doing. We use an agent whenever we do it and @dominica is a certified Realtor too! But not an active one.
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@thecreativeone91 said:
@Danp said:
Yeah... the realtor actually works for the seller, not the buyer.
Unless you hire them.
I've never heard of someone hiring a realtor for purchasing (though I guess if your Warren Buffet you might). Normally the buying and selling realtors split the commission in some fashion, but yeah... that means they both end up working for the seller because the higher the selling price, the higher their commission.
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Looks like you get a lot for your money. I reckon that would be at least twice the price over here.
I'd want to flatten the bottom of the driveway and park a couple of cars down there, then grass over the top of the driveway, and put steps up to the house. Or do you need to park the car in the garage? As it stands, the driveway looks pretty ugly and weirdly shaped. Very pretty house though.
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@scottalanmiller said:
It's certainly possible for a $269K house to sell for $229K. Not super common, but very possible.
We made an offer of 219K contingent on the sale of our home. Will see today what he counters or if he surprisingly accepts.
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@Dashrender said:
@thecreativeone91 said:
@Danp said:
Yeah... the realtor actually works for the seller, not the buyer.
Unless you hire them.
I've never heard of someone hiring a realtor for purchasing (though I guess if your Warren Buffet you might). Normally the buying and selling realtors split the commission in some fashion, but yeah... that means they both end up working for the seller because the higher the selling price, the higher their commission.
Our realtor is a good friend and she is helping sell ours and helping negotiate purchasing the other one. We trust her.
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@Carnival-Boy said:
Looks like you get a lot for your money. I reckon that would be at least twice the price over here.
I'd want to flatten the bottom of the driveway and park a couple of cars down there, then grass over the top of the driveway, and put steps up to the house. Or do you need to park the car in the garage? As it stands, the driveway looks pretty ugly and weirdly shaped. Very pretty house though.
Yeah, if we get our low offer accepted, we will save up to eventually do some work on the driveway...for sure, snow/ice days, we will park in the street. If we don't have steps by then, we'll sled to our cars!
