Profile picture for New SC Buyer

Negotiating room on the NEW Spec Home

What wiggle room would I have on a new spec home (a week on the market) an almost completely sold community (6 lots left out of 50). House price ranges from 210 - 330

$270 price minus 10K incentive discount, list price $260

base price $240 plus $30K in options.

I would be happy to offer $250, but my realtor said that might be a bit low for a new home that is likely to sell. She is inexperienced in new home purchases and wanted some more feedback.

House is in upstate South Carolina. Housing market is gradually picking up in the area. Interest rates are low around 3%
  • November 30 2012 - US
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Answers (2)

Profile picture for Ofe Polack

If I were the builder I would only discount it if I can not sell it at the end, that does not seem to be the case, so I would offer listing price, if you want it, and if you don't don't buy the spec home, have them build one for you.  Good luck! 

  • December 01 2012
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That all depends on your local market conditions.  Your Realtor should see the average length of time it took for each home in that community to go into escrow/under-contract.

The loner the average, the more wiggle room you have to negotiate...but if the market is hot, then your Realtor might be right about the offer being much too low.

Best wishes from So-Cal and good luck

  • November 30 2012
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