Help negotiating price on new home....?

Question

My husband and I are looking to move to a new townhome sometime soon. A community we're interested in has 2 homes w/ immediate availability w/in our budget that suit our needs. Even though we can/could afford them, we feel that we should be able to negotiate a price lower than their asking price. The cost of the home for the area seems a little high, and the market is supposedly a "buyers market", so we feel there should be some bargaining room. However the community says they're "selling well" - I don't know if that's b.s. or the truth, though.

I'm familiar to negotiating tactics on an existing home/older home sale, but completely green to new home sales...

BTW -

Here's the links to the development and town we're looking at, maybe that can help your answers...

http://www.ryland.com/find-your-new-home/26-baltimore/1305-miramar-landing-villas.html

http://www.city-data.com/city/Middle-River-Maryland.html

Thank you for your help - I appreciate it alot...

Answer 1

Negotiate the sale of a new home, the same way as an older home.

Sellers of an older home usually live in the house for sale, while a new home sits empty.  An empty house costs a builder thousands of dollars a month to sit empty.

Everything is negotiable.  Start way low.  You can always go up.  If you start too high, you can never go down.

Answer 2

you can always counter-offer.  if they ARE truly selling at the prices they are asking, they probably will not accept your offer

Answer 3

ALWAYS start with an informed bid. The seller is under no obligation to let you know just what 'selling well' means. I get my realtor to look up comparison sales in the multilist book that goes back several months. Based on this information I will make a lower offer that may be on the edge of insulting but not quite. They will usually huff and puff but will counter with something. There is always another property out there in the world and the sellers know it. You have the power of money in your pocket so use it wisely.

Answer 4

Congratulation you and your husband to get closer on the American Dream!  :)

First, I am sure youguys have to show to the New Home community Agents a very serious to move in this community.

Second,Prepare and show all your purchase power in which  Income, Job and Credit. And if you can get a pre-approval letter from Lenders who are in qualified partner for that community.

Third, Very straight to the point of negotiation which in price, and other options you want . Be honest and Straight forward you will gain the power of negotiation process.

Good Luck!

QL

Answer 5

If a lived-in house is asking $200,000, you can offer $120,000 and maybe still buy it.  If a brand-new house is $200,000, you can get it for $200,000.   It's a weird system.  If that new house doesn't sell in 30 days, the builder will offer a free BBQ for the patio.  30 days later they will offer a free swimming pool.  

They have learned their lesson.  If they sell 100 houses and one person got a "steal" , it makes all the other 99 owners mad.  /

Answer 6

I would bring in my own real estate agent in to help negotiate the price. See if they will pay a commission to use your own outside  agent. Then the agent will talk to them for you as an agent on your behalf. There's no money out of your pocket using your own agent because you are the  buyer.

Yes they  have to provide you with a good faith estimate.