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Bargaining when buying an apartment

Question

Some owners might be unwilling to discuss lowering the price of ana apartment when selling. Among those who are willing to negotiate, how much percent below the asking price might the owner go? Are we talking about 1 percent or up to 10 percent? I need some indicator so I don't antagonize the owner while retaining bargaining power.

anon

@socrate, with all due respect, how can anyone here advise you without knowing about the condition of the house, pricing of similar properties in the neighborhood, how long the house has been on the market etc. etc.

The simple fact is, once you offer, you can't go lower, so offer the lowest possible price first and then work up. If the owner gets "antagonized" by your offer, that's their problem.

Jun 25, 2021 13:52
kasseistamper

It's hard to imagine anyone pricing their property at the level that they actually expect to get. It's just the same when you are selling a car.
We bought our house at 10% below the asking price.
We offered 15% below though I wasn't expecting that offer to be accepted. We were happy to go a little higher than our initial offer and the sellers were happy to go a little lower than their asking price.
One thing is certain, if your inital offer is immediately accepted you'll spend eternity wondering how much cheaper you could have actually got the place for.

Jun 25, 2021 18:03
lmbsie

This is highly subjective depending on the local market where you are buying, how well you know it and the asking price. I didn't bother offering less for the apartment I bought in Gent some years ago because it was priced to sell quickly, and there were people lined up behind me to pay it. I was the first one to see it and had seen enough properties in the area to know the right deal when I came across it. But I had put in three years waiting for it.

Jun 28, 2021 10:44
AJ

From what I have the heard, sellers in Belgium are not as inclined to negotiate on the price as in the UK, say. They take it quite negatively!

Jul 4, 2021 18:09