🚀 go-pugleaf

SmoklerE@bah.com writes:
> 
> Hello all you experienced home buyers.
> 
> I am looking for negotiating advice on buying a new home.  When buying a car,
> I there have been "rules-of-thumb"  such as 20% off of the sticker price and
> 40% off of the options- I am looking for some "rules-of-thumb" for the purchase
> of a new home.  I am gathering a lot of research materials, but I thought I'd
> ask y'all and see if I can learn from your experience.
> 
> AND MOST IMPORTANTLY, How much off the asking price can someone negotiate.

I would suggest checking out the column in every Sunday's
Richmond Times Dispatch, written by Robert J. Bruss (in the
Real Estate Section, of course).  It's a Q & A column that
often discusses this subject.  I believe he has also written a
few books on real estate and negotiation.

If I recall correctly, how much off the asking price depends
upon whether the asking price was set fairly.  Apparently you
can ask for a "competitive market analysis" from a real estate
broker, which lists the recent selling prices of homes in the
area.  You take those actual sales prices and add or subtract
for the different features the one you want has.  If the seller
had one of these analyses done before listing the home, the
asking price should be set fairly and there is not much room to
negotiate.

Don't forget that closing costs, etc. are negotiable, too.  But
if you're looking for a fabulous deal or a "steal", it's
probably going to depend on chance (owner in a big hurry, etc.)

Definately check out Robert J. Bruss' stuff.

--Regina