Making An Offer

At last, through the help of your realtor and sites such as Best Mississauga Condos Online, you have found the perfect condo to suit your needs. Now comes the tricky part; negotiating the price you pay for that unit. Let's get you started on the process by talking about the details of making an offer.

First of all, keep in mind that you are allowed to negotiate in whatever way you wish. If you think that the market for Toronto condos shows that the price on the unit you want may be too high, don't be afraid to say so. Your real estate agent will be an invaluable resource here, as she has a good idea about what is fair asking price on any given property.

Keep in mind that you are in a negotiating process. Our culture has long forgotten this art form, which is dominant in all transactions all over the world. We are inclined to take the nice route, whether we are buying a house for sale in Arlington or a used car.

However, remember that you can save yourself thousands of dollars on the initial purchase, and therefore thousands more on interest, if you pay the right price now. Never make your best price your first offer, because you may leave room to negotiate only upwards. Find out if the seller is motivated or not. Odds are that if the condo is a piece of resale real estate, the buyer will be more inclined to settle for a lower price. Don't count on that same approach from developers!

In fact, when we are talking condos, the resale versus developer purchase is something to keep in mind. Even developers will settle for a lower price, depending on your timing. The best times to get a good price for a new condo are in the planning stages and right after the completion date. At both times, developers are looking to get as many signed owners as possible in order to defray costs.

If you are just getting out of the market for Oshawa condos, you may want to decide beforehand how much of that sale you are willing to re-spend now. That can give you an idea of what your upper limit is; knock twenty thousand off of that and you have a good starting offer.

Whether you are negotiating on the price of Brampton condos or units in Mississauga, keep in mind that details are important. If you can put together sound reasoning for your offer, then the seller is more likely to accept it. For example, point out that you are unwilling to pay the full asking price because of the age of the building or higher strata fees.

Finally, remember the point of negotiation. It is a give and take process. Because your plan is to purchase for the least amount possible, you should offer the seller something to entice them to sell for a lower price. That could be an earlier occupancy date, less subjects, and so on. In all cases, your realtor will be your best ally in the offer process.





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Mississauga Condos


Saturday, June 12, 2021
Royal LePage Real Estate Services Ltd., Brokerage
154 Bathurst Street
Toronto, ON, M5V 2R3
(416) 205-0355
Marisha Robinsky & Ellen Hanbidge, Realtors
3080 Yonge Street, #2060
Toronto, ON, M4N 3N1
(416) 318-1457