How Much Less than Listing Price Did You Offer for Your BG Home?

I know that Bulgarian estate agents tend to mark up houses. I've often seen listings that vary around 10-20k lev for the same property (and we are talking low-end listings around the 50-100k mark). Obviously, the from owner listings are the lowest.

I am wondering about your experiences negotiating with estate agents and how low of an offer you put in or was accepted?

We put in an offer about 10% low on one house, and it was accepted, then the owner backed out at the last moment. But we are wondering if we should go to 15% lower in the future.

(I know it depends on the home... but would love to hear experiences).

The answer is simple: don't put in a lower offer just for the heck of it. Many Bulgarians don't quite "get" the idea of haggling (unlike Greeks, for example) and can easily be offended by a lower offer, especially if it's a fair chunk below the asking price. They can also, as you've discovered, pull out after accepting a lower offer but having had time to think about it.

The way to approach the situation, in my view, is to ensure that you do your homework, so you know what a fair price is for the property in question - this can obviously vary from area to area . Then you must decide what the property is worth to you, especially bearing in mind any factors for or against - location, services, neighbours and so on. Your offer should be that "what it's worth to me" figure, but bear in mind that usually you won't be able to up it if the seller declines. It doesn't matter is some mythical local might have been able to get it for less: if you're happy with what you got for what you paid, then you got it for the right price.

Lastly, never buy after just one viewing - it's much too easy to let your enthusiasm get the better of you and to only see what you want to see: "Marry in haste, repent at leisure"!

The previous offer wasn't rejected based on price... but because the owners are now abroad and did not want to deal with paperwork internationally.

I agree with not putting in offers immediately- we live in the area where we are buying, so we are able to go visit the home a few times before settling on an offer.

We and a lot of our friends got ripped off by the real estates, you can make an offer then you find out that you paid at least 50% commission to these guys, a friend paid 200% commisssion because the sellers tell their neighbors how much they got and they tell you, the owner asked as then we found out the RE got 60% commission.
So my advice is to find a house here on the forum or go to ebay and gumtree then you deal with the owner

Good luck

I dont see the problem.If a house for examble cost 20.0000 euro and you paid 2000 euro commissie for the real estates i f you agree with the prices i dont see the problem you paid the price and what they do whitt the money is not thats not my business.

That's your opinon not mine and not the people I know

The value of a property is controlled by several criteria. Location for example and the condition of the property ( if its a house for example).

I have seen to many properties with reputable agents and I have seen really bad condition properties and i have seen properties in better condition.

Been civil engineer I saw things that a non professional may not see (quality and condition wise).

The listing price of one property was 39000 Euros and my offer was 20000 Euros explaining why showing the agent photos and details. My offer was accepted but later I change my mind.

The property I finally bought was listed 35000 Euros, Changed by the owner to 29000 Euros and my offer was 20000 Euros and was accepted. But again I explained that the whole roof had to be removed and that would cost over 10000 Euros to build a new one.

I reiterate what I said previously: if you paid what you considered to be an acceptable price for a property then you weren't 'ripped off', even if you later discover that there were mark-ups added by one or more people in the supply chain.

Supermarkets charge customers more than they pay their suppliers but does that mean I was ripped off when I did my weekend shop? The farmer who produced the milk was paid considerably less than I forked out - was HE ripped off? I wasn't forced to shop there and he wasn't forced to sell his milk to them; if they sell the item I want at an acceptable price then I'm happy. I enjoy drinking my morning cup of tea and I don't fret that the guy down the road gets the milk in his more cheaply by getting up at 3am and driving 20km each way to buy it direct from the farmer: if it bothered me that much I'd drink my tea black rather than let my imagination convince me that my more expensive "rip off" milk now tastes sour.

Good question, and I agree with the comment about Bulgarians not getting the haggling idea, most really don't. They believe that their un-renovated property is worth the same as one that sold down the road which was fully modernised, and more often than not will increase the price rather than reduce.

The agencies which you need to be wary of are those that offer all inclusive deals. They will pick you up, take you viewing for free, all the fees are included in the selling price. This is risky as you don't actually know how much you are paying, and those viewing fees are far from free, with agents adding 10% or more to the asking price, but when you haggle of course the cost will come off the sellers money not the agent commission.
Better to buy with agents who charge a percentage/minimum and you pay the fees, but if you must go all inclusive then ask for a breakdown of costs.

I would always recommend making an offer, however how low you go should really depend on how much you really want the property. We have had cases where people have desperately wanted the property, but messed the owners about so much by holding out for the price they want to pay, that they have missed out, is it really worth losing 'the' house you really want for a few thousand because you want to get a good deal?

Then we have had sellers who have said no negotiation, we take them buyers and they make an offer and it's accepted, a few have been 10k under the asking price, so you just never know, people may well be desperate enough. The annoying thing from an agent's point of view is if we knew the sellers would reduce so much we could offer the house to more buyers.

What I would say though, is if you are going through an agent, let them negotiate for you, they know what they are doing and can keep a cool and neutral head to get you the best deal possible.

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