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Old Today, 05:14 AM
38,862 posts, read 15,242,450 times
Reputation: 25198


Originally Posted by hotzcatz View Post
Buying and selling is frequently more about the myths and stories between the two participants than what they're actually buying and selling. You've noticed they're proud about their house. If you try to find things wrong with it to lower the price, that will only make them grumpy.

Well, if it were me, I'd offer 20% under their price. BUT! Not because of any problem with the house, but because that's all I as the buyer could afford. Then, if necessary 'scrape up' another 5% to get to the 15% less than their asking that you want to pay.

This lowers the price, keeps their pride intact and keeps the house as a "wonderful perfect house", it's just that the buyer doesn't have enough money. If anyone asks, you adore the house, you love what they've done with it, you'll never change a thing. What you do after they sell it to you, well, that may be something different, but they will be far away by then and still remember their wonderful house being cherished by the new owners.
All buyer can afford - bingo.

Any attempt to use comps will likely be met with how this house has a lot of wonderful advantages, updates, etc. that the comps don't have.

An end to this lengthy house selling experience and a quick closing might be the deciding factors.
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Old Today, 05:33 AM
5,963 posts, read 6,800,899 times
Reputation: 15386
Define "Upstate New York". NY is a big state. Are we talking Dutchess County, or are we talking Plattsburg, Syracuse or Buffalo. Anything north of the city struggles with economic malaise--hence once reason the house is sitting on the market for a long time. There just are no buyers moving into the area, and given the effective new tax hikes, even less reason for people to hang around.

Slow and gentle. Love the house, Great the way you have decorated. Etc. Then "this is what I can afford" spiel. Softly. Gently. Become a "friend" to the seller who will safeguard their cherished house.

If you are dealing with a stubborn old goat, be prepared to move along. Some people remember what their property might have sold for yesteryear and they still hold to that valuation. Nothing you can do, other than wait them out, will move them off their dreamed-about price.
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Old Today, 07:29 AM
5,317 posts, read 5,248,799 times
Reputation: 6293
Originally Posted by M3 Mitch View Post
Be sure you understand how high the property taxes will be. Just sayin'. I know it's not NYC but even upstate some of (maybe most of) the tax bills are just nuts there. Like $20K per year.
I think people would be surprised at how "low" property taxes are on a house over 500K in NYC would be. Westchester and LI would be more likely to have a 20K tax bill. Actual upstate NY, not so much, with exceptions of course.
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Old Today, 12:21 PM
Location: Eastern Washington
14,388 posts, read 45,238,223 times
Reputation: 13092
Originally Posted by kokonutty View Post
Well, Mitch, I guess you can't be faulted too much for your view from 3000 miles away but it would be the rare house in upstate NY that has taxes anywhere near twenty thousand dollars a year. The fact that you insinuate NYC has high real estate taxes is also generally incorrect and indicative of your lack of knowledge about the area as the city has huge sources of commercial taxation to offset residential taxes. It is the areas surrounding the city that have high taxes because they often have very limited sources of tax revenue other than residential properties and also have high expenses due to their proximity to the city.

"Just sayin'."

Well, I have never been interested in living in New York, the taxes, the gun laws, the weather/climate don't appeal to me. So I have not paid much attention to the details. Still, I have read people on here saying that their property taxes are over 10K, some up to 20K, per year.

My point stands, find out what the property tax has been historically on a property, before making an offer on it.

Just sayin'.
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