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Old 09.03.2009, 16:20
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Purchasing a Home - Is the price negotiable?

Given the recent downturn of the economy... is negotiating purchase price of properties appropriate?

Is there any differences between resale homes vs new construction?

By the way... has anyone even noticed any effects of the recent economic events on Swiss housing market or is it as tight as ever?
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Old 09.03.2009, 16:49
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Re: Purchasing a Home - Is the price negotiable?

Negotiation is always possible. We managed to get a good amount off, but it took 6 months of negotiations.

I don't see the Swiss housing market going like the US or the UK. Good unemployment benefits means that people will always be able to pay their mortgage. Plus during economic downtown your mortgage gets cheaper and a mortgage is now loads cheaper than renting. The 20% plus deposit rule gives some buffer against negative equity too.

I have noticed there are a few more big villas on the market in Zug now. They still say "price on request" though
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Old 09.03.2009, 17:29
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Re: Purchasing a Home - Is the price negotiable?

swiss market has been slow and steady for the last 10--15 years, with GVA & ZRH being an exception perhaps. the regulation on foreigners buying property and the way the tax system is set up here does not encourage the mad property speculation that has been seen in other parts of EU. as a result there is no 'bubble' to bust!

bill
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Old 09.03.2009, 18:25
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Re: Purchasing a Home - Is the price negotiable?

Usually you can negotiate. Our house we couldn't. Because it had been through a chain of people who, for various reasons, had to sell with the first two years of their ownership, so they couldn't make a profit. Paid about 85% of its "market value".
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Old 09.03.2009, 18:27
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Re: Purchasing a Home - Is the price negotiable?

I agree with MarieZug. Negotiation is always possible. In fact it would probably be foolish not to try. I guess the important thing is to make an offer that is low enough to be credible without being ridiculous. If you get it right, it could go pretty quickly. Of course knowing how long a property has been on the market helps and also knowing whether there is anything going on in the area which may affect the price.
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Old 09.03.2009, 18:40
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Re: Purchasing a Home - Is the price negotiable?

we were able to negotiate down about 7.5% on our home we just bought -- always worth a try - in this case the house had been on the market for a little while.
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Old 09.03.2009, 18:44
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Re: Purchasing a Home - Is the price negotiable?

Sure you can! Every thing is negotiable. No one gets a better price, by not asking. I negotiated nearly 50,000 Chfs off of the house that we bought three years ago. Of course at first the guy laughed at us, but eventually, because the place needed so much work, he accepted our offer. I was a purchaser for a company in the UK and I learnt to negotiate. However there is only really one thing to learn and that is, the worst thing that can happen is, that they say no. I often embarrass my wife by negotiating the price on many things that we buy. The Swiss are sometimes shocked at first, but you'd be surprised at the amount of times they say OK.
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Old 09.03.2009, 21:07
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Re: Purchasing a Home - Is the price negotiable?

Thanks to all. Sound advise in deed - it's true you never get something you DON'T ask for.

Any idea what would be considered "being on the market for a while"?

I know that in US, Canada and Asia the marketability of a property goes down with the number of "weeks" it has been listed. Here I've seen some properties to be on the listing for months. How does one look at the length of listing time as indication?
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Old 09.03.2009, 23:03
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Re: Purchasing a Home - Is the price negotiable?

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Thanks to all. Sound advise in deed - it's true you never get something you DON'T ask for.

Any idea what would be considered "being on the market for a while"?

I know that in US, Canada and Asia the marketability of a property goes down with the number of "weeks" it has been listed. Here I've seen some properties to be on the listing for months. How does one look at the length of listing time as indication?

If you are asking how to see how long the property has been listed, this you can look up on www.anzeiger.ch
You can also see price changes.
But it does not pick up everything and there are ways around it to make a listing look new.

I don't think it is unusual for a property to be on the market for months. There are so many reasons why a property can remain unsold it is difficult to speculate. I think that if the asking price is just not realistic, no one is going to buy it. In my own experience I have observed that some real estate agents don't work very hard and seem to think a property is going to sell itself.
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Old 10.03.2009, 08:12
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Re: Purchasing a Home - Is the price negotiable?

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Thanks to all. Sound advise in deed - it's true you never get something you DON'T ask for.

Any idea what would be considered "being on the market for a while"?

I know that in US, Canada and Asia the marketability of a property goes down with the number of "weeks" it has been listed. Here I've seen some properties to be on the listing for months. How does one look at the length of listing time as indication?
Our house was on the market for 6 months. The banks were valuing it less than the price they originally wanted. Guess we are good negotiators, but we managed CHF 250k off the asking price.

We have views that our banker said inflates the price by up to 30%, so there was some room for manouver. There is also more room for price reductions the higer the property is priced. I would say at 1 mil expect a 50k discount, but less at the 500k level. At least ask for a parking space or a hobby/cellar room to be included or something extra to be done on a new property.

I had purchased 5 properties in as many years in 3 different countries. Settled here now thankfully. You need good reasons to knock some CHFs off the price. Get your own valuation, estimates of work needed, and of course you stand to lose the property. They lie about the interest they have too and try to get you to *secure* it. If the property is well priced, you may have to pay the full price.
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Old 10.03.2009, 13:15
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Re: Purchasing a Home - Is the price negotiable?

I would talk to your bank about it anyway. Send them the house details and what you are being asked to pay. They have some sort of database which will tell them whether or not your are paying over the odds. How much more they will tell you depends on how much your bank advisor wishes to tell you.

We looked at a lovely property once and were really keen to buy it, however our banker said that we would be paying substantially more than we should and gave us some insight into why. We figured that our bank wasn't local we would ask a local bank and got pretty much an identical answer.

The ironic thing about the whole thing is that the first bank we spoke to (albeit a different branch) had actually loaned the owner the money to renovate it and given him an idea about how much he could sell it for!! Talk about left hand-right hand...maybe that is why the banks are in the pickle they are....
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Old 31.03.2009, 13:14
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Negiotiating a purchase price

Just wanted to sound out a few peeps here. In your experiences, how willing are people to negotiate purchase prices on property, especially brand new developments? We've seen and reserved an appt to buy, but since it was the show appt for the development, there is already a kitchen installed, which we hate and want to change. All the other owners were able to get their kitchens " choix" at no extra cost, whereas it looks as if the promoter will want us to fork out at least some of the cost to replace the doors etc. The appt is the same price as an identical 1 on the same floor. From our point of view, we are being unfairly penalised for taking the show appt (and 1 of only 2 unsold in the block). I think we have a pretty good position, also considering they want to fill the development by the end of the year and we have possibly contributed to another sale, since a friend has since reserved an appt in the same development. Do you think we will be able to negotiate, or is it more difficult for a brand new project? Also, I'm not sure if we will deal with the promoter themselves, or if everything would go through the agent. Tips, ideas and experiences would be most appreciated.
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Old 31.03.2009, 14:25
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Re: Negiotiating a purchase price

Well you've got nothing to loose, the worst they can say is "no".
When we bought a new apartment many years ago in CH I remember trying to negotiate something and the best they could do was to subsidise our repayments for the first 6 months, ie they they paid something like CHf500 a month towards our mortgage. However the market in Fribourg seems to be quite buoyant at present so maybe it's the developer who is in a pretty strong position.
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Old 31.03.2009, 14:34
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Re: Negiotiating a purchase price

I bought "off plan" a little over a year ago, and tried to negotiate the price. The agent said "sorry, we don't do that here in Switzerland. Perhaps if you buy a second parking space, we can give a small discount on that."
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Old 31.03.2009, 14:40
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Re: Negiotiating a purchase price

Thing is, we're not negotiating the price, as such. What we are not willing to do is pay for the replacement of the kitchen, something that all other owners had installed as part of the price. It's not even the entire kitchen, just the fronts of the cupboards and drawers. Having said that, they haven't actually stated we will have to pay, but that was the impression we got from the estate agent. I'm trying to pre-empt things a little .
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Old 31.03.2009, 14:45
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Re: Negiotiating a purchase price

We had a thread about negotiation,...:
Purchasing a Home - Is the price negotiable?
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Old 31.03.2009, 15:08
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Re: Negiotiating a purchase price

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we have possibly contributed to another sale, since a friend has since reserved an appt in the same development.
A collegue of mine was offered chf 20000 if he could sell one of the empty houses in his development....
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Old 31.03.2009, 16:38
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Re: Negiotiating a purchase price

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I bought "off plan" a little over a year ago, and tried to negotiate the price. The agent said "sorry, we don't do that here in Switzerland. Perhaps if you buy a second parking space, we can give a small discount on that."
Everything is negotiable, you just need 2 negotiators
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Old 31.03.2009, 16:44
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Re: Negiotiating a purchase price

I find that most sellers will sit on their property for a very, very long time without compromising on the asking price. Unlike other markets, there isn't as much pressure to lower the asking price over the age of the listing.
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Old 31.03.2009, 17:03
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Re: Negiotiating a purchase price

Oh another thing, there's a small chip in the enamel in the bath. Do they need to replace the entire thing, or is there some kind of enamel treatment that can be used?
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