Social Question

Gracieya's avatar

Are real estate prices negotiable?

Asked by Gracieya (3points) January 4th, 2023

I’ve decided to build my dream home, so I’ll need some information about Real estate companies.

Observing members: 0 Composing members: 0

6 Answers

seawulf575's avatar

I guess it would depend on where you are. You can always dicker about the price of land or a home. If you go to a realtor, their fee is usually a percentage of the sale and is harder to change.

Typically if you are just buying a small plot of land, there isn’t a lot of wiggle room on the price. Land values are usually based on a general value to a given area. So you can expect to pay at least what an average price is for an acre of land. I’ve lived in areas where the cost of the land was $900 per acre and I’ve lived in areas where the price is closer to $35,000 per acre. So that would need to be researched.

If you are planning on buying a home and renovating it into your dream home, the seller usually sets a price and is expecting lower offers.

And to be clear, real estate companies only broker the sales. There is a seller, a buyer, and the realtor. The realtor usually is responsible for making sure all aspects of the sale are considered and usually works for either the seller or the buyer.

JLoon's avatar

For almost every property and every transaction – Yes. That’s the reason real estate agents and firms exist.

But price range and negotiations depend on factors determined by the local market, and specifics of the property itself.

Do some research yourself to find out what’s available based on what you want and what you can afford. But at some point you should plan to work with an agent to save yourself time, and most likely money.

Entropy's avatar

To some extent. Most people set the price they are advertising based on their valuation of their home relative to their neighbors and based on publicly available info on what neighbors’ homes sold for.

Now, markets go up and down, some people set prices unrealistically and homes go unsold for a time, but you can always offer less than the seller is asking. But if there are other bidders, you’ll waste alot of time making bids and not getting a house.

This is why I think it’s a good idea to include escalator clauses in your bids. I did this when buying my house, but lost a bid before getting my current home when the seller’s real estate agent didn’t seem to understand what an escalator clause was and the seller accepted a bid that was above my minimum, but below my best offer.

Forever_Free's avatar

What kind of information are you looking for?
You are listing that you want to build your dream home. So this to me means you are either looking for just property or for a house/property to raze the existing structure and rebuild.
These types of Real Estate properties are very negotiable in nature unless you are talking beachfront. When Covid hit and the Real Estate market went crazy everyone was putting land and properties up for sale to try to make money or just move something that they never thought would sell.
Now would be the time to negotiate prices as the market has changed.

SnipSnip's avatar

Yes. Everything is negotiable. Everything has a price.

Spam somewhere else.

MillieMA5's avatar

If you deal with decision makers and not peons everything in life is negotiable.

Decision makers who understand this surround themselves with peons.

Answer this question




to answer.
Your answer will be saved while you login or join.

Have a question? Ask Fluther!

What do you know more about?
Knowledge Networking @ Fluther