epinay Posted December 9, 2004 Share Posted December 9, 2004 Hello everyone!I'm new to this forum but not new to France. In the current market, and at this time of year, how much below the asking price do you think it is OK to offer? I'm talking about Brittany, approx an hour from St Malo.All opinions welcome. Thanks in advance.Epinay Link to comment Share on other sites More sharing options...
Ewa Posted December 9, 2004 Share Posted December 9, 2004 Hi Epinay - welcome aboard!We've just come back from 27 having completed our purchase on Saturday. We saw the property (an old columbage barn with a CdeU in place) in late July for sale at just over 63k Euros. We offered 50k - were laughed at and then told by the immobiliare that the owner had an offer of 60k in place (which we doubt, but the scare tactic worked). We came back with an offer of 61k which was accepted - the agency fees were included but not the notaire, which was another 5k on top.Hope this helps - good luck!Ewa Link to comment Share on other sites More sharing options...
Boiling a frog Posted December 9, 2004 Share Posted December 9, 2004 Offer at least 20% less than the asking price to start with You can always increase an offer. Link to comment Share on other sites More sharing options...
Will Posted December 9, 2004 Share Posted December 9, 2004 It's a very tricky question to answer. You have to think primarily of what prices are being asked for similar houses and, most important of all perhaps, what the house is worth to you.It's very true that some places are deliberately overpriced, some even to take into account the fact that non-French buyers will offer 20-30% less (or if they offer more the seller is quids in). Some people have reported that offers of 30% below asking price have been accepted - that probably says as much about optimistic pricing policies as the buyer's negotiating skills. It's also true that some sellers know exactly what they want for the house, and that is the asking price (or to be more exact the nett vendeur price, which doesn't include fees) so will not consider offers - in fact they may well be insulted by a low offer. A good agent or notaire will give an honest opinion as to whether or not an offer is likely to be acceptable. Their prime concern is to get a sale, not to screw the last few euros out of their clients (although that does apply to some, of course). French prices are fixed as much by the seller's expectation (which may be ridiculously low as well as hopelessly optimistic) as by the agent's or notaire's valuation.Another consideration is that in France it is the practice to immediately accept any offer at the asking price. 'Gazumping' and playing buyers off against each other to drive up the price above what is asked is virtually unknown, though it can occasionally happen. If there are several buyers after a house - that in itself is an indication that it is priced correctly for the market - you could find you lose out to another who offers the asking price when you are still haggling over the last few francs. If you want the house, and it looks like a good deal, then seriously consider offering full price - that will secure it for you. Link to comment Share on other sites More sharing options...
epinay Posted December 9, 2004 Author Share Posted December 9, 2004 Thank you all for your input - We feel better equipped now if we want to make an offer.We are seeing the house on Saturday and already know and trust the agent as we have sold through her in the past. Of course we are on the other side this time which might make a difference. I'll let you know how we get on. Thanks again - wish us luck! Link to comment Share on other sites More sharing options...
Lizzie15 Posted December 10, 2004 Share Posted December 10, 2004 :blinkur experience has been that you sort of get a feel of the value of the house to you and offer accordingly.We bought a house several years ago that we loved and didn't want to loose but could only afford to pay 75% of the asking price-we put the offer in and said it was final-we couldn't go any higher-it was accepted( we found out later they were despearte to sell as a full price buyer had just pulled out ).Conversley,we bought a house a year ago at almost the asking price 'cos it was a bargain and we knew it-haggling could have meant someone else secured it! Being from Yorkshire I did offer just 2000 € less and it was accepted=phew! Link to comment Share on other sites More sharing options...
CountrylassAnne Posted December 10, 2004 Share Posted December 10, 2004 There seem to be far more houses for sale at the moment, than there were earlier this year. If this trend continues surely the supply and demand phenomenon will come into play and drive down the house prices. We've seen this already on one estate agents website who says " Go on be brave, make a silly offer after all some people are asking a silly price!"I would say offer 20% less than asking price and take it from there.Bon Chance!! Link to comment Share on other sites More sharing options...
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