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Old Nov 27th 2017, 8:43 am   #16
GeniB 
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Default Re: Property Negotiation

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Originally Posted by Ton View Post
Don't feel bad about offering much less than asking price.

Most of the figures you will come across have been plucked out of thin air.

Have a look at some property websites where it shows you that property has been drastically reduced by up to 40% as they just wont sell at inflated prices.
Can't agree with that statement. There are parameters for working out the price of a property. How many bedrooms,extra facilities like a swimming pool, views,and of course location. These are not 'plucked out of thin air.' A good estate agent will then add other factors like age,and condition. He/she gives the vendor a price they can expect to achieve ,and the seller then decides if its what they wish to sell for.
If the property remains on the market beyond the usual selling time,then it can be assumed its over-priced.The seller then has to decide if they will stick with the price ,or reduce it. Some perceived 'bargains' are merely the result of the seller realising that they have to reduce the price or be stuck with the property for a very long time
In my case ,our villa had been on the market for over 5yrs .off and on. It was for sale as the result of a bitter divorce.The female half was loathed to sell,hence a ridiculous initial price was asked .We were lucky enough to arrive at the end game.She had to sell due to a court order.In her panic to retrieve lost ground (she had been offered a much higher price years earlier) she demanded we pay in pounds.() and a guarantee on euro to sterling exchange rate.Didn't happen. We got the villa for half the price she had started out with.Ours was an unusual case,but it highlights the fact that every house sale is different.Your estate agent will be able to tell you if there is 'wriggle room'or not.
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Old Nov 27th 2017, 8:59 am   #17
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Default Re: Property Negotiation

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Originally Posted by liveaboard View Post
The house next door to me has just sold after being on the market for 8 years. The seller refused to drop a single euro.

He didn't increase the price either though...

Anyway, everyone seems happy with the deal, new neighbors are actually intending to live in the house, bucking the trend of empty second homes around here.
And they speak English.
Yippee!
Thats good news for you Live

Portugal has the highest rate of home ownership in Europe (apparently ) unlike Spain , and traditionally people do not sell the family home. When they do come up for sale its usually because 90% of the remaining 'family' live in Lisbon or more likely abroad. In my YD's case when she bought her first flat in Lagos.that mean't 27 owners to deal with. Hence maybe the reason for your neighbour not putting the price down.probable the whole family did their sums and worked out what each member would get,as was the case with my YD's flat. Imagine the negotiations to get everyone to agree the sale price in the first place
Thats great that your neighbours intend to live there full time as well.
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Old Nov 27th 2017, 10:56 pm   #18
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Default Re: Property Negotiation

In this case, it was the old man who made the decision; He told me happily how he got his price and I offered my hearty congratulations.
He also told me the new owners are going to let him and his son continue to work the back field.
My OH is thrilled; she points out they must be really nice people.
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