Why sell at the end of the year?

forrest · Joined: 02 Nov 2008 Posts: 1

Hello,

I am looking at buy a condo that costs in the mid 400s in california. The condo is part of a complex of about 30 condos built this year. There is also another complex down the road by the same builder with slightly higher prices, they have about 30 units as well. Each of these condos have about 6 units remaining each. I talked with the sales person and they said that they are trying to sell out all the units by the end of the year. I made an offer that I will most definitely will not budge from. They came back with a counter offer that is $10k higher and they do not appear to be budging from that offer as well. It has been about a month since I made that original offer, and as far as I know they have not been able to move any units.

How safe is it to decline their offer and make another one in a month or so? Do they really need to sell all their units by the end of the year? If so and they are not able to do so, will it cost the builder a lot of money? Also, the offer that I made is less than 10% of the price of the condo. In addition, I did not go with a real estate agent (although I am communicating with one and getting advice about the negotiations) so I figure that saves them about $12k, which makes my offer less than a 7% reduction from the offered price. The condos have been on the market for more than 40 days as well.

2809.blanche · Joined: 13 Nov 2008 Posts: 5

Wow interesting .. I have nearly the same question ... strange =)

I hope there will be a response soon ... because it´s very interesting to me .. 8)

Have a nice day ... Greets, Blanche

liverichly · Joined: 10 Feb 2005 Posts: 199 Location: Orange County, CA

You can make as many offers as you want. You can make an offer and withdraw it 10 seconds later, and then make the same offer again, if you are so inclined to do. The builder wants to sell the homes by the end of the year to book a profit - it's the same reason you want to sell anything soon. You get your money quicker than if you sold it later.

Jenie0109 · Joined: 27 Jan 2009 Posts: 307 Location: chicago IL

thanks for the tip.