Is a property asking price always negotiable?

THE asking price of a property is often the starting point for negotiation, and it is common for buyers to look for a discount. Negotiating a discount is part of most property transactions, and the worst that can happen is that the seller says “no”.

- STAFF REPORTER

According to agents from the Seeff Property Group, there are some factors which buyers need to consider if they hope to get a discount on the seller's asking price. Firstly, determine whether there is actually an opportunity for a discount. If you are for example purchasing off-plan, then the prices are usually fixed, but there may be a special deal as part of the marketing of the development. Instances where you could perhaps get a discount on the asking price include where the property is older and requires upgrading and renovation. Then, there might be an opportunity to get a discount, provided it is not already discounted.