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How to negotiate a property price?, For first time house buyer
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gkd
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 Sep 20 2016, 10:38 AM
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New Member
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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
This post has been edited by gkd: Sep 20 2016, 10:49 AM
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gkd
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Sep 20 2016, 04:00 PM
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New Member
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QUOTE(LocalExpat @ Sep 20 2016, 01:47 PM) I just did this yesterday, walk into a bank and inquire about obtaining a loan, gove them property address, and they will look up recent transaction and tell you what was paid for similar property. Bear in mind that this is not a proper evaluation, compared to what a professional appraiser would do in other countries. The 'similar' property may have extensive renovations or other factors that may affect it's sales price. But it will get you in the ballpark. Thanks LocalExpat. Will check it up. Regards |
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gkd
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Sep 21 2016, 04:15 PM
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New Member
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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
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