Posted by
cookie09
16 yrs ago
We are looking at a flat currently owned by a developer (well known name) that could not be sold for 4 years now.
Apart from the fact that the 4 years sounds as if the developer might be willing to lower the price, I am sure we are not the first ones to ask him to do that.
My question is:
1. Do we better negotiate through an agent? I understand the agent is compensated by the developer only in such cases
2. What is the rationale for a developer to not sell a flat for 4 years by lowering the sqf price a bit when all the other flats in the development are up for sale/sold already?
Appreciate any advice
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ldavy
16 yrs ago
"I understand the agent is compensated by the developer only in such cases"
I don't know why you think that. If you buy a flat through an agent, the agent is working for both you and the vendor and is entitled to commission from both sides.
I would think you'd be better off approaching the developer direct. They might be more willing to lower the price if they don't have to pay any agency fee.
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"I understand the agent is compensated by the developer only in such cases"
I don't know why you think that. If you buy a flat through an agent, the agent is working for both you and the vendor and is entitled to commission from both sides.
Interesting, actually the agent told me that she is not looking to getting any commission from us for such a sale "because the developer will pay her". Maybe she forgos our commission to make the sale happen?
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ldavy
16 yrs ago
That's probably the case, yes. She probably wants you to buy through her, because then at least she will get commission from the developer.
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