How much discount ??

[misty]

Has anyone recently negotiated buying a property ?? I was wondering what the typical percentage you would expect to negotiate off the asking price and typical extras you would expect as standard ?

A couple of people have told me that due to the market being very flat buyers are going in with offers up to 50% off the asking price !!!

Linkback: https://www.enjoykalkan.com/forum/index.php?topic=3968.0

[dogboy]

Following on from Misty's question, there must be somebody who can help answer it.
I've scoured the estate agent sites, but it would be useful to find out as a potential buyer where exactly things are. Many of the ads relate to property originally marketed in 2006/2007 and as we all know times have changed since then.
If you don't want to publicly give details then that's understandable, but a general idea of whats being paid for what would be useful.
PM's welcome.
Thanks.
Dogboy.         

[Cosetta]

I heard from estate agents that this season villas offered between £150,000 and £1,250,000 have been sold.  I have not heard of any unusual discounts.  You would have to come across a desperate seller to get a huge discount, I think.

[Rosie]

My own opinion (for what it's worth) on the last post is, it doesn't matter if it's Kalkan, Turkey or the Costas in Spain for example, if a person decides they like the location enough to want to buy a property then the price falls organically into place. My advice would be go and take a look at some villas, apartments etc and see what you get for the price asked. Have a budget in mind as to what the maximum you would like to spend, then make up your own mind as to whether or not you feel it is worth paying the amount.

Think of those shoes that you know are expensive but you've simply 'just got to have them'! Or the football season ticket that you couldn't live without no matter how much the price goes up each year!

Everything is negotiable, but some things are more so than others, and this is where your own research comes in. Once you start talking to agents and other contacts and putting down your marker that you are seriously interested in finding somewhere you will be given the information you are seeking. I'm sure the lack of response on this forum is not because people don't wish to help you, but merely because it really isn't as simple as you possibly believe it to be.

We are used to the UK property market where everything is kept up to date and all agents display the same price. In Kalkan you could speak to several people about the same property and be given different prices. There is no hard and fast rule about % discounts off property, whether its this year, last year or 5 years ago. That applies just as much in the UK as well as Kalkan. Sp whilst one person may be desperate to sell, the next door neightbour selling the same type of property might not be and will be prepared to wait. Each property value has to be looked at on its own merit. But what is the same in both countries is the need to find someone you feel comfortable dealing with who will look out for your interests at the end of the day.

In conclusion, everything has its price to those that want it. And some things are worth paying that bit more for if it makes you happy, but only you can decide at the end of the day if its good value.

Rosie

[Rosie]

Ooops, sorry Cosetta, 
I didn't mean you when I said 'last post' - I was referring to Dogboy's post
Rosie

[dogboy]

My own opinion (for what it's worth) on the last post is, it doesn't matter if it's Kalkan, Turkey or the Costas in Spain for example, if a person decides they like the location enough to want to buy a property then the price falls organically into place.
 
Rosie.Your opinion is exactly why I posed the question again. By listening and researching other peoples experieces I can get a better, more informed idea of what I am expected to pay   
My advice would be go and take a look at some villas, apartments etc and see what you get for the price asked.
A factfinding trip is imminent.
Have a budget in mind as to what the maximum you would like to spend, then make up your own mind as to whether or not you feel it is worth paying the amount.
My life savings is my budget

Think of those shoes that you know are expensive but you've simply 'just got to have them'! Or the football season ticket that you couldn't live without no matter how much the price goes up each year!
Perhaps this is where I disagree. I am more than happy to pay the going rate for anything I want, however there is nothing worse and sours the enjoyment of any major purchase than paying over the odds and getting the feeling that somehow you've been ripped off. 

Everything is negotiable, but some things are more so than others, and this is where your own research comes in. Once you start talking to agents and other contacts and putting down your marker that you are seriously interested in finding somewhere you will be given the information you are seeking. I'm sure the lack of response on this forum is not because people don't wish to help you, but merely because it really isn't as simple as you possibly believe it to be.
Knowledge is power. My budget is limited and knowing or at least having an idea of where the market is today as opposed to eighteen months- two years ago would be a start. I understand that it is not scientific, but there has to be a starting point and I'm afarid the agents web sites (which is my starting point) are in the main confusing, as many of the properties have been on their books for some time.

We are used to the UK property market where everything is kept up to date and all agents display the same price. In Kalkan you could speak to several people about the same property and be given different prices. There is no hard and fast rule about % discounts off property, whether its this year, last year or 5 years ago. That applies just as much in the UK as well as Kalkan. Sp whilst one person may be desperate to sell, the next door neightbour selling the same type of property might not be and will be prepared to wait. Each property value has to be looked at on its own merit. But what is the same in both countries is the need to find someone you feel comfortable dealing with who will look out for your interests at the end of the day.
Perhaps the title of this thread should be changed to "How much bang do I get for my buck?"  I agree that each property has to be looked at on its own merit. Where I am at odds with you is your assertion that there is no hard and fast rules regarding discounts etc. Market forces dictate that in the good times you pay top Dollar. In the not so good times the buyer is incentivised into parting with his/her hard earned cash.       
In conclusion, everything has its price to those that want it. And some things are worth paying that bit more for if it makes you happy, but only you can decide at the end of the day if its good value.
Very true. I only wish money was no object . Thank you for the advice .

Rosie

[kevincat99]

Have you thought of renting for a while until you get a better feel for the place .
Or even rent on a long term basis - put your cash in the bank - get 10% or whatever interest which would probably pay your living costs here and you still have immediate liquidity if you see a bargain
Worth a thought ??

[dogboy]

Kevincat99.

Renting not an option for me. Still 8 years to retirement. Without boring you with the details, an investment I made some time ago has, or is about to come to fruition and to be honest with you it's going to have to be reinvested as any money I have burns the proverbial hole. So I originally wanted to buy in Cyprus as I lived on the island for a number of years.
I have studied the market there continuously and have come to the conclusion that.
1. Since joining the Euro, the exchange rate, weakening of the Pound v the Euro makes purchasing a decent property in a nice area virtually impossible.
2. Title deed fiasco...And it is a fiasco.
3. Northern Cyprus is a gamble just not worth taking.
4. Wife being of Turkish Cypriot descent may have a bearing on living in the republic (Southern)

This led me to look at Turkey  and very recently @ Kalkan. It appears to have a similar feel to Pissouri in Cyprus. Still maintains its charm even though it has expanded somewhat. I'm not really into mass market tourism and would die for the views in both resorts.
I, like most as I said earlier, want as much bang for my buck (doesn't everyone) so being up to date with what I can get is all important to me.
Estate agents, no matter which way you look at it are in it to make a living. That's why I asked the question of the forum members.
Dogboy                   

[kalkan wife]

My advice is find a few (maybe 3), properties you like within your budget. Make offers through your estate agent (or direct if you are dealing with the developer/builder) of approx 15-20% below the asking price. This is not insulting but will probably be turned down. Then the negotiation starts.

Don't forget additional costs for the tapu, purchase tax, earthquake insurance and possibly estate agent fees.

Happy house hunting.

[Cosetta]

Dogboy, we and two of our friends of ours have villas for sale.  None of us would accept even 10% below our price because we have already put our prices down very significantly, around 25%.

Having said that, if you look through past messages, you will realize that it isn't the number of rooms or even the exact square footage of the property that determines the price.  Many properties here are built very cheaply, without foundations, without insulation in the walls and in the roof and the pool, but the external appearance - that which is visible to the untrained eye - is great.  After all, how many buyers really know how to judge the quality of a build?  And those who will tell you about builders' warranties, well, ask anyone who has tried to take advantage of one of these warranties.

You best assurance is to select a property you like that fits your budget, find out what other properties the builder has built and contact at least 3 of those owners.  Find at least 1-2 who have lived in their house for 2+ years. That seems to be when the defects become apparent.  Ask around about reputations of builders and sellers.

The fact that some properties have been on the market for some time merely reflects the fact that little is being sold, supply outstrips demand, and builders are still building. Then there is the fact that some owners are not going to sell for less than they paid or less than they think their property is worth. 

With time and patience and a good investigation you will find what you want.