Negotiating for Property #5 Funny Story

Negotiating on rental property #5 is getting hilarious. So this property has 4 co-owners based in the UK, and they owe a nice chunk in back taxes. They listed the property for 26K, so I low ball at 18K. They finally get around to responding to my offer. They counter by saying, “We want 22k because we just put 5k of repairs into it. We will even send over a list of all we did.” My first thought, “Gee, thanks for doing all that for me, I really appreciate how you put 5K into your property and want me to care during this negotiation. Secondly, I need it for 18K because I just had a daughter. Let me send over her bills to prove that!” My agent and I got a good laugh out of it. Then we sent in the counter counter offer at $500 less. Take it or leave it… All is fair in love and real estate negotiation! Besides, we are looking at 2 more property pick ups. If we only get 2 of the 3, oh well!

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0 comments

  • David /

    Haha! That’s awesome. In our building we had to negotiate with our landlord who refused to fix anything in our apartment, yet wanted to increase rent after a year of us living there. I basically told the landlord that if he didn’t fix the following 10-12 things in the apartment, I would take him and the rental management company to small claims court. Sure enough rent was reduced 5% and no fixes were made 🙂

  • You have a shitty landlord. Unless you caused the damage, he should be more than willing to fix the home. Especially, if you’re a good tenant.

  • That is an awesome story! Real estate is all about the purchase price!

  • Nick you’re absolutely right! You make money when you buy.

  • JT /

    Love this story. I have done the same thing when negotiating, namely dropping the price if I get some ridiculous response. Although at other times, I have simply walked away. I even had one time when someone tried to get more out of me at the closing table on a short sale. I stood up and walked out. Closed later that afternoon at the original price.

  • hahha… awesome! I’m going to post a list of the crap they said they did to the home that justifies the price increase.

  • David /

    As crazy as this sounds, we are great tenants and have not damaged or missed a single payment. Our landlord still has not fixed one of the burners on the stove, the thermostat in one of the bedrooms, and every single closet as they are ancient.

  • […] the other day I told you about the funny negotiation story for property #5. Well… they sent over a list of stuff they did to the place that justifies a 5k mark up in […]

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