Since you are first-time buyer, why not start with affordables home scheme instead of subsale..

telling them your budget doesn't mean that's your offer price to buy, right? Maybe they just want to know your ballpark figure instead of waste each other time.

Sometimes got a few agents dealing with the same property, try asking a few.

You be surprised how many people actually go see house just for fun or beyond their budget. Now I'm not saying you are and I'm not an agent but I tried selling my own house before, that's how I know.

There is also a reason why some can't reduce their price. For my case, I wanted 1.2m, so I advertised slightly higher than that. I can't advertise 1.3m cause nobody would even look and I can't advertise at 1.2m cause that's my bottom. Anything over a million is not easy to sell. There's not much room for negotiation.

If they ask for your budget, just say a number below their asking price. But don't say few hundred thousand below asking la.

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.

Of course! Every agent on earth will want to hike up the price except for my stupid agent. She put lower than what I wanted.
Some small taman/project they can even pakat to maintain a certain price.

Eventually mine sold by another agent.

What kind of house you looking at? How many storey

Oh I thought you are looking at a particular place, like you already set your target on a particular project.

If the house prices are okay, then you may need to know your baseline too...
Make a few Bank valuation first...please tend to make 10% lower on the offer price...and ask what is the max value for the house, from Banker...

Do banks charge anything for valuating a property?
For example is there an application fee for a loan, which triggers the property valuation step?

Well...dont tend to follow what property agent said, becoz that favor them....lies are all around agent...

Usually, Property agent will crap abt sign offer letter then only giv u 2 weeks to find loan officer(for Loan Offer letter)

How I work is...
1. Check the price of the house around the same area...then note down the min and max of the price posted
2. Check out the house, call up a few agents...ask abt furnish, unfurnish...fish for low price too
**point 1-2, takes 3days -> 2 weeks

3. after viewing, call up a few banker/bank to get Loan officer contact. I will usually ask 3-4 banker. CIMB tend to be easier to get higher price, HSBC sometimes gave good rebate on approved (used to hav a RM10K loan rebate)
4. Let the agent know you look for loan officer..and no need sign offer. Well, he will say no offer letter sign mean no confirm...which is crap too. Currently is buyer market...let them wait long long...
5. Upon checking bank officer on the property min-max (obviously lowest price is the one u r looking for) Min price is ur baseline...max price is ur max price. Duh...why not..
Please bargain with bank on the BFR/BLR/BR rate, the higher (-) the rate the better
***point 3-5, takes up 2days-1 week

6. Bargain with agent/owner on the price, with the agreed price only sign the darn Offer letter...
7. Then go back to Banker and Bargain the BFR/BLR/BR rate

When the property is not urs..then is not....let agent/owner wait long long...
Buy house is a serious matter....please remember you have work for so many years just to have some saving to buy property....we gonna get every drop out of the RM you have earn, right?

Learn as much as you can on the process, mind your own business

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

Thank you very much for the suggestions.  So we have done a bank evaluation.  How close to the valuation should we offer considering the property market these days.

Regards
G