Advertised Price Markup

[JayBird]

Sorry if this is a dumb or unanswerable question.

When viewing condos listed on a real-estate agent's web site and offering to pay cash the same/next day, is it reasonable to be able to bargain down the price a bit? Is it naturally inflated by 5%/10%/whatever?

Curious also if it differs between completed and non-completed.

Thank you.

[dksharron]

Always offer low, and wait for a reply. You will be pleasantly surprised. Think 20% or more.

[KittenKong]

20% is a minimum, I would say. In some cases much more is feasible. It all depends on how keen the vendor is to sell, and many places that are "on the market" here are not seriously for sale at all.

One thing that you need to remember is that there are many times more properties for sale than there are buyers.

There is zero honesty or transparency in Thai property. Everyone lies. (House MD)

[mikebell]

I went to view a house which I knew had been up for grabs for at least four months. I offered a price just over 50% of its listing. This was my opening gambit & I was ready to bargain up to maybe 75/80 %. All the fun disappeared when the owner said 'OK' to my first offer.

[trogers]

Would depend on location and asking price.

New properties would most likely be a buyer's market. Old properties in good location can be otherwise.

[Paul944]

The price will be completely determined by your negotiation skills. What helps is:

knowledge of the land prices in the neighborhood

knowledge of the build prices of a similiar construction you want to buy.

This knowledge will give you an idea of the value of the property. Some owners stick to unrealistic prices. Objects for sale for more as 6 months are probably over prized.

Most advertisements in english are from foreigners who highly over estimate the value of their constructions or from agencies who start with the same high over pricing because they target to sell to foreigners. If you can get help from some one that can read thai you can look at the prices of reprocessed bank properties and local advertisements.