CONDOS - How Much Can I Negotiate?

[Jumpem]

Originally posted by: DBL

Originally posted by: Jumpem
Wow, and I was complaining about 1500-200 sq.ft. houses I've been looking at being in the $125-175k range.

Heh. You could tack another 0 on the that range if you were looking for a condo/co-op in a fancy Manhattan building. I believe Trumps new building on the west side has 500 sq. ft. studios going for the mid 600's.

There was an article in the NY Times a couple of weeks ago that said a particular co-op on Park Avenue (I forget the address) will not consider a potential buyer unless they have 100+ million in net assets.

That's crazy. There are relatively nice 1000sq.ft. single story houses going for $60-80k by the handful.

 

[melly]

Originally posted by: Kenji4861
So when I negotiate.. how much can I negotiate.. If they ask for mid 300s.. is it okay to say.. $300k flat and I'll take it? Thanks for any advice!

Um sorry you just can't expect them to instantly nock 50 grand off the price.

I don't know how it works where you live, but have you even been preapproved for a mortgage? In Canada, it's best to put down 25 % on the downpayment, so in your case, the price of the property should be no more than $240, 000. You say you want to take out TWO loans. WHY? You'd be paying more interest than mortgage. Just buy what you can afford in a more reasonable area. In Toronto you can go across a street and pay
$50 K cheaper because of the boundary zone.

Why would anyone pay mid 300's for a 1 bedroom condo?

 

[Imdmn04]

Originally posted by: aRCeNiTe

Originally posted by: Kenji4861
Currently, I'm looking to buy a condo

- 1 bedroom for "mid 300s", but the realtor there told me.. it'll be in the higher $300s because of the demand..
- http://www.prometheusreg.com/residential/vea.html - that is the website.. this place is selling their apartments as condos starting in a week or so. The building was just built last year.

So when I negotiate.. how much can I negotiate.. If they ask for mid 300s.. is it okay to say.. $300k flat and I'll take it? Thanks for any advice!

if i had 300k, i'd buy a house for 150k and then buy a z06 and take it to dr. lingenfelter

Yeah, 150k can get u maybe a decent house in Montana or North Dakota. But in cali, you can't even get a cardboard box for that much. So to all the rednecks that lives on the countryside, please recognize this is the bay area hes talking bout. Please get out your "300k for a condo? u stupid?" mode, 300k+ is just about the market price for that area, and the market determines what the price is.