Estimated costs used house

... external influences can sometimes increase the value of a property. In this respect, as well as my predecessors, the price is determined by supply and demand. The highest bidder always wins the contract (also when selling ;-)). Whether rubbish was built in or there is a renovation backlog: if the price is overpriced, then there simply are no purchase offers. If the price is reasonable for one person, other doubters are left out in the cold.

Hello Dave,

It just seems too expensive to me - based only on the above numbers.

Then stay away from it; every property has a price that meets a buyer willing to pay it!

Kind regards

Thank you very much for your feedback!

Hello Dave, Then stay away from it; every object has a price that meets a buyer who is willing to pay it! Best regards

Actually, we planned to make an offer. I actually wanted to set it realistically. That’s why the calculation was in the first post.

Or the other way around: The seller will also have thought about what the object is worth and then added a bit on top.

This is the first property we are buying – I thought it’s normal to make an offer? Of course, time-limited. Or is the rule that the asking price is paid?

The house has been on the market for a while, not many are looking in this price range.

Dave

Actually, we intended to make an offer. I wanted to set it realistically. That's why the calculation was in the first post.

Or the other way around: The seller must have also considered what the property was worth and then added a little "on top."

This is the first property we are buying – I thought it was normal to make an offer? Of course, time-limited. Or is the rule that the asking price is paid?

The house has been on the market for a while; not many are looking in this price range.

Dave

You are right: you make an offer! But your approach is wrong. Look in the sales portals to see how houses in that size category are priced. Built in '98 is not old! Inform yourself about the current land value per square meter and add the connection costs (8000 euros), as well as the developed areas/garden (20-30000?).

I have also just sold a used property. A bidding family had been searching for 2 years, finally found ours, but unfortunately, their bank calculated that a 35-year-old house was only worth 1000 per square meter. So they miscalculated and offered far too little. There was no basis for a compromise. They are still searching!

Hello Dave,

Actually, we planned to offer a price. I wanted to set it realistically. That’s why the calculation is in the first post.

Of course, you can offer the seller a price; within a reasonable range, he might accept it. You must never forget: it only takes one interested party for whom the price is reasonable, and he will buy.

What you should always do – especially in your own interest – is ask the seller if there is an appraisal for the property. If not, go through the house with an expert and listen to what he says about the condition and the "realistic" purchase price. If this appointment confirms the seller’s price, you know you’re not buying a pig in a poke – if this appointment reveals major "problem areas," the expert’s costs will be well worth it.

The house has been on the market for a while, not many are looking in that price range.

That rather suggests that the seller is not necessarily dependent on the proceeds from the sale. Therefore – in my subjective assessment – you won’t be able to negotiate much on the price because the seller won’t be interested in your calculations.

Best regards

There is no appraisal - the sale goes through a broker. However, the price has now been reduced (30T€). The seller wants to move into a new property that was brokered by the same agent.

I conclude from this:
I. There is some selling pressure and/or there have been too few interested parties so far, otherwise the price would not have been lowered.
II. The planned move-out only in the first half of next year is off-putting; for us, this is also difficult to accept.

The price is not entirely unrealistic - this also comes out according to the calculation if I include the additional services as assumed by ypg. We can afford it as well.

Another approach for beginners (=us): How much percentage does a broker usually add because he knows every buyer will want to negotiate anyway? 10-15% is my estimate; he has already come down by 5%.

Daves

PS: If someone comes along and pays the asking price, then the property is gone – that’s just how it is. I am (still) relatively rational about it.