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  1. #1
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    Default How negotiable are property prices

    There seems to be quite a lot of property for sale in and around Sosua and Cabarete. A lot of it has been on the market for some time.

    So how negotiable are the prices that you see advertised on the web sites.

    Also can you negotiable the prices of pre construction condos and villas.

  2. #2
    batich
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    Quote Originally Posted by Jezzer View Post
    There seems to be quite a lot of property for sale in and around Sosua and Cabarete. A lot of it has been on the market for some time.

    So how negotiable are the prices that you see advertised on the web sites.

    Also can you negotiable the prices of pre construction condos and villas.
    Normally same as in US . 10%-20%

    25-30% only in those cases when it was overpriced from the beginning and sits long time.

    Cases when you can beat seller by 40-50% are very rare and only when seller is very motivated and needs to leave ASAP. Normally they try to disgise it and pretend as if everything is OK with them and they are not in the rush.

    Do not trust RE agents for this. Talk to neighbours.

    Situation with pre-construction is much worse. You deal not with regular people but with professionals builders sharks. He has enough cash reserve to wait for a sucker who sooner or later buys for his price.

    But if professional builder for some reason sells cheap - it means that in the process of construction he discovered something very bad about the house and tries to get rid of it ASAP!

  3. #3
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    I doubt if Batich knows quite what he's talking about. Are you calling Paul from Casa Linda a shark? This is nonsense - It's a sellers market - you might get 10% if you ask VERY nicely but you need to point out potential problems to get that. You could always ask for a survey and then deduct money for the cost of repairs.

  4. #4
    batich
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    Quote Originally Posted by Buyers Broker View Post
    I doubt if Batich knows quite what he's talking about. Are you calling Paul from Casa Linda a shark? This is nonsense - It's a sellers market - you might get 10% if you ask VERY nicely but you need to point out potential problems to get that. You could always ask for a survey and then deduct money for the cost of repairs.
    I am talking about what I know first-hand from my several friends who are in RE business. The latest purchase was a house with asking price 250G that was sold for 200G and two more under contract. Currently there are 50-60 villas for sale in Sosua area only.


    You cannot call it seller`s market. You can call it "tough skilled seller vs soft naive buyer" market, it is true. Now supply is bigger than demand.

  5. #5
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    Quote Originally Posted by Buyers Broker View Post
    I doubt if Batich knows quite what he's talking about. Are you calling Paul from Casa Linda a shark? This is nonsense - It's a sellers market - you might get 10% if you ask VERY nicely but you need to point out potential problems to get that. You could always ask for a survey and then deduct money for the cost of repairs.
    Buyers Broker,

    I see that most of your posts relate to being in the middle of nowhere and most are negative except for Casa Linda. Paul at Casa Linda is a shark, it's well known. Nice fellow but a shark like most pre-sale project promoter. Paul has a very nice project going on and truly a vacationers dream but Casa Linda is away from the ocean. I also agree with Batich, it is not a seller marker, sure the market is way better than 3 yrs ago but still not a sellers market.

    By the way, start being a little more positive and not telling everyone everything is in the middle of nowhere. Not everyone can afford perfect location on the beach and walking distance to shops like beachfront condos in Cabarete.

  6. #6
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    Quote Originally Posted by Jezzer View Post
    There seems to be quite a lot of property for sale in and around Sosua and Cabarete. A lot of it has been on the market for some time.

    So how negotiable are the prices that you see advertised on the web sites.

    Also can you negotiable the prices of pre construction condos and villas.
    I second Batich about build property, usually 10-20% max unless in a less desirable area, which you don't really want anyways.
    For pre-con, usually, you don't get to negociate at all, there is very little negociation going on there. If buying pre-con condo from the big guys (ie. C21), no negociation at all.

    You can always try like you would in the US, but you may very well be ignored.

    Good luck.

  7. #7
    batich
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    Quote Originally Posted by ecarignan View Post
    I second Batich about build property, usually 10-20% max unless in a less desirable area, which you don't really want anyways.
    For pre-con, usually, you don't get to negociate at all, there is very little negociation going on there. If buying pre-con condo from the big guys (ie. C21), no negociation at all.

    You can always try like you would in the US, but you may very well be ignored.

    Good luck.
    That is true. If one wants to buy fast - this strategy is not good.
    But if there is no rush - keep making YOUR offers, be prepared to being ignored 95% in all. Tell to an agent that you`ll pay BUYER`s comission if he lets you know about an urgent "fire sale".

    If one has CASH readily available sooner than later a VERY MOTIVATED seller shows up being in URGENT need of FAST funds.

    The curerent situation is: sellers are rigid on their inflated prices, but buyers do not buy. No movement on the market. Game of nerves. Houses are not sold. Sitting on the market.
    \Waiting for you if you are smart and patient...

    He who has cash - is always king! Not seller.

    RE agents, please do not kill me!! I love you too!

  8. #8
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    Quote Originally Posted by batich View Post
    That is true. If one wants to buy fast - this strategy is not good.
    But if there is no rush - keep making YOUR offers, be prepared to being ignored 95% in all. Tell to an agent that you`ll pay BUYER`s comission if he lets you know about an urgent "fire sale".

    If one has CASH readily available sooner than later a VERY MOTIVATED seller shows up being in URGENT need of FAST funds.

    The curerent situation is: sellers are rigid on their inflated prices, but buyers do not buy. No movement on the market. Game of nerves. Houses are not sold. Sitting on the market.
    \Waiting for you if you are smart and patient...

    He who has cash - is always king! Not seller.

    RE agents, please do not kill me!! I love you too!
    You speak from a wealth of experience in the DR real estate market? http://www.dr1.com/forums/426660-post22.html

  9. #9
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    Batich, did you actually live this experience or just making up stuff? Where abouts was this? I have owned a few villas and never had this experience. Curious, tell us the whole story.

  10. #10
    batich
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    Quote Originally Posted by ecarignan View Post
    Batich, did you actually live this experience or just making up stuff? Where abouts was this? I have owned a few villas and never had this experience. Curious, tell us the whole story.
    Sorry if I did not understand you well!

    Of course from experience. Mine and others`.

    In last 5-6 years I was approached at least 4 times by people in urgent need to sell and willing to accept 50% of market value.

    I knew that I was losing great opportunities but I was not ready to relocate and would never want absentee ownership in DR.

    One case was when a person was set-up by his business competitors. A man brought him a car to buy very cheap. He took it for test drive. Next block - he was stopped by police. Car is stolen. No documents. mHad to leave country within several days. Left behind everything.

    Another guy got in legal trouble because of drugs. Had to run back to Canada and to sell his house from there for any price at all.

    One more person is about to sell his land half-price very soon if does not strighten his legal problems fast.

    DR is more a country of opportunity now than US. But be VERY patient and VERY careful.

    Live there a year. Let everyone in RE business know that you have cash for a house at bargain price and can close very fast. And wait.
    Have a good lawyer to check Title. Someone will try to sell you air.

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