AboutAlex Rodriguez Expertise I would be glad to answer questions you may have about real estate in Ottawa, ON. How to choose a REALTOR? How to price your home? What marketing strategies work? Should I have an Open House? Should I sell my home privately? Should I buy in Gatineau? Should I move to the Suburbs? What is dual agency?
Experience Residential Properties both Freehold and Condos
Organizations Keller Williams Ottawa Realty
Education/Credentials Ask me!
Awards and Honors Keller Williams Ottawa Realty has been named to Canadian Business magazine's 2007 list of the "Best Workplaces in Canada" list, ranking # 15 in Canada and the only real estate office in the country to make the list.
Expert: Alex Rodriguez Date: 9/4/2007 Subject: second offer after inspeciton
Question Good afternoon Alex,
My question to you is, I had an offer on a home i was interested in, and the purchase was on condition of inspection. Upon inspection I was advised of a few things that are going to coast a bit more then i had anticipated. I asked my agent to go back with a lower offer, ($3000 less) She came back to me with $500 less. My question to you is how does this negotiation work? The reason i can not ask my agent is that she is related, and is working as a dual agent. This is my first home questions and i don't want to be blind sided.
Tomorrow Sept 5/07 is the dead line.
Thank you in advanced for your help!!
Darlene
Answer Hi Darlene,
There are no real rules to negotiate a price. Offer what you are reasonably comfortable with, keeping in mind that you are not buying a new home and that not everything is going to be perfect. Also, Remember that every time you make a counter offer to them they don't have to accept it (or give you back their previous offer)and can walk away from your offer.
I would also consider using closing dates and inclusions to negotiate terms of the deal. Perhaps you are giving them a closing date that they prefer and you would be less inclined to that date if they did not reduce the price a bit more... or perhaps they are not including the new fridge, you could go back and say fine $500 off but I want the fridge included.
Generally, a couple of thousand if not worth loosing a deal over. Both parties want the deal to work and usually reach a happy medium.
