# Percentage o f Asking Price



## Roy C (Sep 29, 2012)

What would you first offer on a house a out 130.000 to begin negotiations?


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## Rabbitcat (Aug 31, 2014)

Roy I am going in on offers at least 15% below in order to cover my buying costs.


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## Roy C (Sep 29, 2012)

Thanks Rabbit, I think that's a good starting point, I went in a bit lower than that but gives me room for movement and have a small list of houses in which we could live in any of them. 

Now also if it belongs to brits ( and three do) moving back then it might give them closer to their asking price than a year ago because of the pound.


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## The Skipper (Nov 26, 2014)

Roy C said:


> What would you first offer on a house a out 130.000 to begin negotiations?


There are no rules. Every case will be different and it often depends how good your negotiating skills are. Ask the right questions to find out how long a property has been on the market and try to get a feel about how desperate the vendor is to sell. It is often surprising how daft some vendors can be in showing their hand. Do some research as well to find out the sale price of other houses in the area as this can often be helpful in beating down a price. I know of houses that have sold for almost half the asking price and I also know of at least one that sold earlier this year at full asking price because the vendor (a Scotsman, would you believe!) refused to drop a single euro! As a general rule, I would always start negotiating with an insultingly low offer. The worst the vendor can do is refuse it and at least it gets the negotiations started.


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## snikpoh (Nov 19, 2007)

The Skipper said:


> There are no rules. Every case will be different and it often depends how good your negotiating skills are. Ask the right questions to find out how long a property has been on the market and try to get a feel about how desperate the vendor is to sell. It is often surprising how daft some vendors can be in showing their hand. Do some research as well to find out the sale price of other houses in the area as this can often be helpful in beating down a price. I know of houses that have sold for almost half the asking price and I also know of at least one that sold earlier this year at full asking price because the vendor (a Scotsman, would you believe!) refused to drop a single euro! As a general rule, I would always start negotiating with an insultingly low offer. The worst the vendor can do is refuse it and at least it gets the negotiations started.


Agree - we're still in a buyers' market.

However, it also depends how much YOU want the property.


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## scubajohn (Sep 13, 2015)

its all very well knocking percentages off the asking price its down to what the catastral value of the house is, ie my selling price is £150.000 buyer offers less 15% sold . within 5yrs the catastral sends round there architect to value the property and says o its worth £150,000 you owe x tax. i no this because a neighbour got caught, note second hand knowlege


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## scubajohn (Sep 13, 2015)

second hand info mate got caught out.
sell at £150,000 buyer offers 15% less, ok sold. within 5years the catastral sends round there architect with his tape measure values property at £150,000 more tax to pay thank you . I APOLIGIZE FOR THE DOUBLE POST ONE WAS A DRAFT SHOULDNT HAVE LOADED


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## Roy C (Sep 29, 2012)

Yes but you're paying tax on the 15K difference which still gives a good saving, it's just a matter of costing that in and putting something aside. Spain is certainly not at 'pay the asking price' not from what I've seen and I have been researching this for the past few years.


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## Maureen47 (Mar 27, 2014)

Hi Roy, we had a budget to stick to and that made it slightly easier but we did not offer the asking price and did start really low. We were able to negotiate face to face with the vendors and fortunately my husband was slightly better at this than they were. We were not out to offer a completely silly price but we knew they wanted to sell , were avoiding agents fees and also the house was illegal. They agreed the price and paid the fees to have the house legalised as part of the deal as we would not agree to complete until this had been done to our lawyers satisfaction. I think 2 or more years on it is still a buyers market but the prices seem to be rising and of course for sterling purchasers the exchange rate is not as favourable as it was. I think each case needs to be viewed on an individual basis depending on circumstances. Good luck with your purchase.


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## Roy C (Sep 29, 2012)

Thanks Maureen, I'm transferring money now just in case it falls even more. Which it looks like it will. I still think there are bargains to be had, well there is from what I've seen, it just costs us more. If my retirement just had of been a few months earlier.......


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## Megsmum (Sep 9, 2012)

HI

When we bought two years ago we paid roughly 15% below, but like Maureen we had a budget, that was simply one price if the house was ready to go and if the property needed work ( which ours did) another price, we estimated the costs, added on a percentage and that was our final offer. Our first offer was refused we upped it €1000 and we were good to go. Having shown a few properties here for a local agent I have seen very low offers accepted on properties IE one was on for 250K€ offer 176€ accepted in another case property on for 100€k offer 90K€ offer refused, In the first case lady was desperate to sell in the second case, the guy was in no hurry. All a bit how long is a piece of string


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## Maureen47 (Mar 27, 2014)

Roy C said:


> Thanks Maureen, I'm transferring money now just in case it falls even more. Which it looks like it will. I still think there are bargains to be had, well there is from what I've seen, it just costs us more. If my retirement just had of been a few months earlier.......



Good Luck , we were so terribly lucky with our timing , its a difficult time at the moment but should still be a buyers market , keep us posted ;-)


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