Very simple. Go to the bank and tell them the exact property address, size of unit, furnished/non furnished....get their valuation. Get from 2 banks.

Then, contact agents, go for viewings ho humm ho very nice very nice, and then give your budget, max I will pay = Bank valuation - (2-3% of selling price).

Because 2-3% is agent commission, so you're now tapping into buyers selling price. Agents commissions are ridiculous, some of them asking 3% now, don't know if its the standard, but still find it ridiculous.

You want a motivated seller. So the prices listed on the website are just sellers 'fishing', you can be sure for a 1mill property, can slash another 30-40k at least. But always use bank valuation as benchmark. And tell the agent, this is the bank valuation for this price, for this unit - you've done your homework.

Next, tell them - this is my price. Call me if owner agrees and I'll give you the cheque the next day. If they call back and match it - you got a good deal.

To the agents who say you must buy if you view, yadayadaya, tell them to stuff it. Many many agents out there, this is the buyers market.

Hi there,

I've been following the thread of this post and found it very interesting and informative. I am wondering how to nego for a property where the owner has asked us to give us a price. 

The area is in Bukit Jelutong, Shah Alam  - 16 year old suburb.  We like a property that is 2 story inter-corner (houses on both sides), 4700 sq feet, 5bedroom, 5 bathroom. It is a basic unit  - never been renovated.

How do I determine a price point in such a situation. 

Any and all help would be much appreciated.

Thank you
G