New Condo - negotiable?

[BonMot]

Obviously, the answer should be laughable of course why even ask.

 

Seems like the few new condos I've looked at the women just show me the unit and then the price and we're done. Price not negotiable, no interest in extending a 0% interest loan 24-36 months, no solution to come up with FTE for Thai earned money. no discount from list.

 

Am I just not getting to the right people or ???

[OneMoreFarang]

Obviously you have to talk to someone who can make decisions. 

If a sales person has only the options a, b and c then you won't be able to get d.

If you want d then talk with someone higher up the food chain.

[richard_smith237]

3 hours ago, BonMot said:

Price not negotiable, no interest in extending a 0% interest loan 24-36 months, no solution to come up with FTE for Thai earned money. no discount from list.

So you want a 0% loan for 24-36 months....     

 

I was selling my Condo and a handful of people contacted me and asked for some strange thing..

i.e. rent it out and then when they buy it in a few years subtract the rent from the purchase price !!!....   

 

Some people do have a strange idea and get bent out of shape when the don’t get what they want. 

 

In your case, you want a 0% loan which is quite the ask. You may be able to negotiate for a discount but its unlikely you get to speak directly with the decision maker as they hide behind the sales as they don’t like any form of potential conflict (i.e. people get bent out of shape when they don’t get what they want). 

 

Thus: IF you want a discount, name your discount and get them to contact you if they agree.

IF you are lucky you may get to speak to someone higher up the sales food chain. 

 

 

[Aussieroaming]

When we bought our condo in Bangkok it was new and the project sales team wanted something like 15.99M for it. My wife offered them 12.8M and they accepted that offer but they refused to include any furnishings as they said they wouldn't have enough profit margin if they discounted the apartment and threw in that furniture as well. The condo was being sold at the end of the project when they were off loading the last handful of condos in the building, hence the discount apparently.

[BonMot]

12 hours ago, Aussieroaming said:

When we bought our condo in Bangkok it was new and the project sales team wanted something like 15.99M for it. My wife offered them 12.8M and they accepted that offer but they refused to include any furnishings as they said they wouldn't have enough profit margin if they discounted the apartment and threw in that furniture as well. The condo was being sold at the end of the project when they were off loading the last handful of condos in the building, hence the discount apparently.

Thanks for that. 20% off their ask. I hardly think that's true about the profit angle though. I bet they make near 80% or more on the list price of each unit.

 

I'm happy not to take the furnishings. No kitchen would be fantastic.

 

Were you making a serious offer or did this come just throwing around numbers?

 

When I'm attempting to do any sort of negotiating I'm nowhere close to making an offer writing.

 

The market might finally capitulate but I'm seeing better value in new than second hand baht for baht. Better used condos have same fees as new. That's a wash. Paying an extra 30% (50%) which amounts to 25-50k (hardly a fortune) for pool, additional amenities, location, new building... Many used condos are looking like an incredibly poor value at current prices.

[BonMot]

On 6/5/2022 at 5:01 PM, richard_smith237 said:

So you want a 0% loan for 24-36 months....     

 

I was selling my Condo and a handful of people contacted me and asked for some strange thing..

i.e. rent it out and then when they buy it in a few years subtract the rent from the purchase price !!!....   

 

Some people do have a strange idea and get bent out of shape when the don’t get what they want. 

 

In your case, you want a 0% loan which is quite the ask. You may be able to negotiate for a discount but its unlikely you get to speak directly with the decision maker as they hide behind the sales as they don’t like any form of potential conflict (i.e. people get bent out of shape when they don’t get what they want). 

 

Thus: IF you want a discount, name your discount and get them to contact you if they agree.

IF you are lucky you may get to speak to someone higher up the sales food chain. 

 

 

I'm talking about dealing with new condos. I should have made that clear and thought it to be self evident when I wróte NEW.

 

They never call. I'm offering 30-40% less on empty units.

 

Asking a private party for a loan in Thailand is ridiculous although I could offer them US cash outside US in part or whole of the deal.

 

I am moving to look at new units now. Used are not worth the money.

Edited June 9, 2022 by BonMot

[couchpotato]

On 6/5/2022 at 10:01 PM, richard_smith237 said:

So you want a 0% loan for 24-36 months....     

 

I was selling my Condo and a handful of people contacted me and asked for some strange thing..

i.e. rent it out and then when they buy it in a few years subtract the rent from the purchase price !!!....   

 

Some people do have a strange idea and get bent out of shape when the don’t get what they want. 

 

In your case, you want a 0% loan which is quite the ask. You may be able to negotiate for a discount but its unlikely you get to speak directly with the decision maker as they hide behind the sales as they don’t like any form of potential conflict (i.e. people get bent out of shape when they don’t get what they want). 

 

Thus: IF you want a discount, name your discount and get them to contact you if they agree.

IF you are lucky you may get to speak to someone higher up the sales food chain. 

 

 

I was selling my Condo and a handful of people contacted me and asked for some strange thing..

i.e. rent it out and then when they buy it in a few years subtract the rent from the purchase price !!!....   

 

Actually this is not strange at all...happens a lot in Thailand. Have done it myself twice.  You have a contract (at the price negotiated) for the rental price and duration, and the probably purchase. If the purchase doesn't go ahead you have your rent. If the purchase does go ahead, you have a good selling price, and the rental money over the rental period. As the the total taxes are unknown years ahead, then I always have the buyer pay 100% of taxes in the contract.

Works for me.

[ezzra]

OP, I have bought and sold more than a fare share of condo units in my 35 years in this country...you're dreaming if you think for one moment that they will accept your 30-40% price reduction, you don't know Thai mentality, they WILL NOT drop that much or even close to it, the best would be 10-15% and that is IF, there are many, many condos in BKK and Pattaya that many units are still unsold and they will not drop the price as you expect, either keep looking around more or drop your requirements for size and location to suite your budget...

[Iamfalang]

Condo prices will drop 85 percent before recovering.

 

Show  them this!   After 11 hours I can get a 200 baht item on walking street for 190 baht, even if it’s 100 baht 1 km away and they haven’t sold it for 22 years.

 

offer 99% below offer…. Should gives us some comedy

[BonMot]

22 hours ago, ezzra said:

OP, I have bought and sold more than a fare share of condo units in my 35 years in this country...you're dreaming if you think for one moment that they will accept your 30-40% price reduction, you don't know Thai mentality, they WILL NOT drop that much or even close to it, the best would be 10-15% and that is IF, there are many, many condos in BKK and Pattaya that many units are still unsold and they will not drop the price as you expect, either keep looking around more or drop your requirements for size and location to suite your budget...

Agreed.

 

Empty unit in building four years old with additional empty units.

Edited June 10, 2022 by BonMot

[SAFETY FIRST]

On 6/5/2022 at 1:52 PM, BonMot said:

Am I just not getting to the right people or ???

Forget these people. 

 

Fire sale, loads on offer. 

Buy from the owner who has to sell urgently. 

 

These come up occasionally, you'll get the best deal. 

 

Keep away from agents and developers. 

 

 

[BonMot]

2 hours ago, SAFETY FIRST said:

Forget these people. 

 

Fire sale, loads on offer. 

Buy from the owner who has to sell urgently. 

 

These come up occasionally, you'll get the best deal. 

 

Keep away from agents and developers. 

 

 

Lol. Maybe the Pattaya story...

 

I look thru ddproperty and occasionally I come across sales posted as urgent. They are always fully valued and often priced 75-85k same. I do understand their urgent need but it appears they also are not interested in dropping the price.

 

I'm also struck by the really crappy condos for incredible prices. Often, the view, decor, kitchen is fatal. Total lack of windows and ventilation.

Edited June 11, 2022 by BonMot

[smutcakes]

If you see a condo you like and would like to live there, buy it. Sure try and negotiate but dont raise things like paying offshore etc you are just going to bore the seller to death unless perhaps its a US national but even then you are just complicating things. 

 

Buy the condo you like, enjoy it and forget about the price. If in 5-10- years you need to sell then what will be will be. You will never get the perfect deal so if you want to lige there just suck it up and get it and enjoy it.