Most people will find plenty of ranches in Montana that they like but they may think the price is a little too high for their budget. If one believes this to be true, it probably is. Here are some signs that show potential buyers that he or she will be able to negotiate the asking price. If there is no official grid in the field, open your eyes, anticipate issues and be firm.
The property may be overpriced compared to other similar properties
A good surcharge in relation to the market price usually means the property will not sell. This is a sign that buyers can negotiate the asking price. However, before making an offer on anything, it is best to do some research on the property in question along with similar ranches in the area. Never focus on a single price. Buyers can also print ads of similar properties to submit to the seller and to show them why you chose your number.
The ranch has been on the market for months
This is a great negotiating opportunity. If the ad has been listed for more than three months, buyers can try to renegotiate a lower price. Many owners overestimate their properties and some agencies agree to advertise and sell them at this rate. When it is a simple mandate (the mandate is proposed in several agencies), this prolongs the process because agencies are competing to offer the best price to the owner and when it is an exclusive mandate, agents test the price asked by the seller, only to show him or her that it will not sell.
The home has defects
If the property is giving you every indication that there are potential housing defects, use this information to negotiate. A ground floor is likely to be dark if there are not a lot of windows and/or doors. A poorly-lighted home can see its price fall 5 to 10%. The price of a huge property can be reduced by 5% or more. Dwellings with “work to be expected” should also see its price decrease. Properties will poorly-designed layouts can also be renegotiated. If the home needs to be upgraded in any way, it is important to bring up these issues during the early stages of the purchase.