When do you believe the last offer price?

[hektor]

Have been viewing various units and for every unit, the agent will tell me that the last offer is $x, so anything >$x can try. I know it's a standard agent trick, but any advice on how to go about checking if the last offer was real? or just go ahead and make an offer that i'm comfortable with?

thanks for advice, i'm quite a newbie in this.

[radha08]

Have been viewing various units and for every unit, the agent will tell me that the last offer is $x, so anything >$x can try. I know it's a standard agent trick, but any advice on how to go about checking if the last offer was real? or just go ahead and make an offer that i'm comfortable with?

thanks for advice, i'm quite a newbie in this.

kidnap the agent...tie him/her to a chair...put HONEY all over his/her body in a ROOM full of bees cages...then ask the agent tell me the truth the whole truth and NOTHING but the truth is there really a last OFFER.....if NO answer open the bee cages......if got answer u know the truth..ha ha ha

i also KENA so many times the same stupid answer last offer but weeks later havent sell..blady liars these agents...

[wind30]

last offer I guess is what the Agent is hoping to get I think...

[Mr.Keh]

Have been viewing various units and for every unit, the agent will tell me that the last offer is $x, so anything >$x can try. I know it's a standard agent trick, but any advice on how to go about checking if the last offer was real? or just go ahead and make an offer that i'm comfortable with?

thanks for advice, i'm quite a newbie in this.

You need not check if the "last offer" is real or not. Just discount that 100% and don't let it make you want to raise your offer price.

If you really like the unit, then make an offer that you are comfortable with first (make sure its not a low ball offer otherwise it may kill off the nego process).

After that you will auto know if the "last offer" is real or not thru the agent's response. If the agent know the owner will not accept your price, then he will let you know before you write the cheque. If the agent accept your cheque, it could mean the last offer might not be true as it doesn't make sense for the agent to present a lower offer to the owner.

In any case, you win as you would be starting off the negotiation from a lower price point. If the agent comes back to you with a higher price that is still above your real budget and tell you the owner will not accept less, you tell him you need to think about it, ask bank for finance etc, give reason to stall time. Also tell the agent to let you know if there are any buyers during this time. From here, you can slowly up your offer price if you are still interested.

Good luck!

[Eastboy]

don't bother about last offer. like what others have said, offer a price that you are willing to pay.

do your homework and check recent transactions in the project as well as the vicinity.

it's a buyer's market now, many units up for sale, and so if meeting point cannot be met, then move on....one day what will be yours will be yours.

however, if it's an urgent unit that you require or that you love the unit so much because u are staying, then just pay a premium lor. after all, you are buying a house for yourself. and don't have to justify to anyone only to yourself because u hold the value personally.

[ekl2ekl2]

Still can remember about 5-6 units that I viewed in Jan this year where the "last offer" was quoted by agents. All of the units are still in the market today. For 2 of the units, the "last offer" was 20-30k from asking and you know this can't be true bec its been 8-9 months and units are still not transacted.

[Eastboy]

Still can remember about 5-6 units that I viewed in Jan this year where the "last offer" was quoted by agents. All of the units are still in the market today. For 2 of the units, the "last offer" was 20-30k from asking and you know this can't be true bec its been 8-9 months and units are still not transacted.

indeed, many home owners are just 'testing' the market. they aren't genuine sellers, and hence ask for incredulous prices, hoping that some silly idiot would bite. my point is, if there's a motivated seller and motivated buyer, then bother to negotiate. this is the part where agents play a crucial role - if agent is very proactive, probably seller and buyer are motivated...from my experience you can easily judge by how proactive the agent is in marketing the house, as well as how proactive the seller is having open house timings.

[lajia]

If u are buying, get some agent u trust to represent u and nego and also do some acting with u
U will not lose out like that and it is easier for u to test water

[carbuncle]

just do your homework and decide on a reasonable sum you willing to pay for the unit after day and night viewings. weekend viewings are best if you expect to be at home mostly on weekends. work in your offer starting from below your expected buy price and go up from there if necessary. submit a real hard cheque with every offer to prove your genuine and not just talk. sometimes cheque in hand will do a lot to sway seller mentality.

[hektor]

thanks for your advice, very useful indeed.

[eng81157]

check ura website and make a judgement call. if u see a unit put up at a reasonable price that's within your budget, just go for it.