Negotiating how much?

[GeoffH]

1 hour ago, stevewool said:

None of this applies to buying from imediate family .

Top price always i am thinking.

 

My girlfriend managed to negotiate a 25% reduction on the asking price for 2 (side by side) lots bought from an (inlaw) family member (aunt by marriage) earlier this year.  Initially they offered less discount than that but when we mentioned about possibly buying the 2nd lot as well they went further down in price. 

It's difficult say how negotiable they'd have been to someone they didn't know but at least a bit I'd think as they had been for sale for a while.  I try and let SWMBO deal with 'negotiations' when possible, it seems to work out cheaper most of the time.

Edited November 27, 2017 by GeoffH

[Jack Peterson]

2 minutes ago, GeoffH said:

I try and let SWMBO deal with 'negotiations' when possible, it seems to work out cheaper most of the time.

Best way on just about all things

[bigpearl]

18 minutes ago, Jack Peterson said:

Best way on just about all things

Most oft times yes Jack but other times when it comes to managing serious cash best to take the reigns with negotiations as a dollar saved etc, can't see the forest for the trees, well my better half at least.

Cheers, Steve.

[stevewool]

1 hour ago, Jack Peterson said:

 Depends on how you treated them before Steve.

Plus how they treated me jack.

[bigpearl]

We have looked at property for over 3 years, nearly 4 in our chosen neck of the woods and the prices just kept rising, the area became tourist busier. San Juan La union beach front. Surf. Only beach front was our choice. We saw a property 2 years ago @ PHP 9.5M and liked but it was 4 kms further north than we preferred to go,,,,,,,,,,,,,,and I argued that it was a little overpriced, that was then, now with ever rising prices in our chosen area  an ad caught my eye earlier this year, hey Bengie, we looked at this property 2 years ago and now it is PHP 6.5M let's look again and look we did not only the property but a bigger picture, a town with better facilities/infrastructure than San Juan. We also found this private bay with this property had 90 percent plus expats, no roosters, no Karaoke to date, room for expansion on the house, 2,500m2 land to the high tide mark and 3 b 2 bath home with seperate studio and other buildings and improvements all 7 years old, 8 now.

Final price PHP 5.75M. so the original selling price dropped by around 32% in 2 years to PHP 6.5M and the negotiated outcome was some 11% lower than the asking price from the outset of negotiations which puts Dr. Shiva in the ball park  though the overall savings from the initial listing price is some 40%. Our gain? Maybe but certainly a better than realistic price on the worst house in the best street scenario, mostly 2 story mansions. With ongoing improvements? The house 4 doors up just sold for PHP 21M. Honestly at the end of the day be happy where you choose to live whether rented or purchased; as said in another post we paid a year up front on a condo lease and dropped the price from PHP 30K to 25K, a saving of some 15% for paying up front, a year in advance saved more than I could ever hope to recoup from investments in my country, happy landlord with a mortgage and a happier tenant.

Cheers, Steve.

[Dave Hounddriver]

1 hour ago, GeoffH said:

I try and let SWMBO deal with 'negotiations' when possible

Many believe this, and yet I have tried to ask some filipinas basic math questions and they cannot figure it out.  For example, ask her how much she will offer if your goal is to get 1/3 off the asking price.  Many have trouble with a problem as simple as that.

[GeoffH]

13 minutes ago, Dave Hounddriver said:

Many believe this, and yet I have tried to ask some filipinas basic math questions and they cannot figure it out.  For example, ask her how much she will offer if your goal is to get 1/3 off the asking price.  Many have trouble with a problem as simple as that.

 

This is true of many filipinas I agree but I wonder how many western Millennials who you asked the same question would immediately reach for their phone and open the calculator app .

[bigpearl]

12 minutes ago, Dave Hounddriver said:

Many believe this, and yet I have tried to ask some filipinas basic math questions and they cannot figure it out.  For example, ask her how much she will offer if your goal is to get 1/3 off the asking price.  Many have trouble with a problem as simple as that.

Hear you Dave but always remember that there are many Filipinos more astute and know to the Peso their bottom line and how to play the game.

 

Cheers, Steve.

[Dave Hounddriver]

6 minutes ago, bigpearl said:

always remember that there are many Filipinos more astute and know to the Peso their bottom line

I see your point.  Perhaps the filipinas are smart enough to get to that number without know knowing any math.  I suppose, for them, its all about knowing what the property is worth rather than what percentage to get off the asking price.

[Dr. Shiva]

33 minutes ago, Dave Hounddriver said:

Many believe this, and yet I have tried to ask some filipinas basic math questions and they cannot figure it out.  For example, ask her how much she will offer if your goal is to get 1/3 off the asking price.  Many have trouble with a problem as simple as that.

Looks like a hard job to barther that amount down. Like starting with 2M on a 6M offer to bring it down to 4M.

Anyway it looks good to use the sledgehammer method at bartering the prices down. And if it is not working, just walk away. It is good if having some other objects in the selection to play out in the barter. 

Condos are another case. Most time their prices are just ridiculous. Even after halving their prices are they still too expensive.

Edited November 27, 2017 by Dr. Shiva