If a property has been vacant for 4 years or more; is it an insult to negotiate for 50% less than asking price

In Leasing Property - Asked by pr R. - Mar 2, 2012
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Answer(s)

george a.
Owner/Investor
Sacramento, CA

It does not matter how long it has been vacant, what maters is what is its market value today and what is it worth to you, you can get good terms because it has been vacant for so long and terms can be more valuable then the savings on the price

Mar 2, 2012
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Joaquin J.
Broker/Agent
Charlotte, NC

After four years, it never hurts to ask.

Mar 3, 2012
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Daniel M.
Broker/Agent
Cleveland, OH

It's true it never hurts to ask, what matters is what they're using as a basis for their price. If they are using a pro-forma based on future occupancy and income, then not at all. If they're taking the vacancy into account and are listing the property based on a "sticks and bricks" price, they may be more sensitive.

Mar 9, 2012
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Mark H.
Property/Asset Manager
Fort Worth, TX

It's never a insult to negotiate for a lower price. The unit is only worth what the market will bear. I would have to find out why it has been vacant for so long. Its usually one of three things. It's overpriced and the owner won't work with you. It's in a bad location or shape which mean's its overpriced. Or he is using it as a tax shelter and writing it off at that rate and isnt worth it to him to lease it for a lower price.

Mar 12, 2012
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Chris R.
Broker/Agent
Denton, TX

A good commercial leasing agent will be able to help you negotiate a lease on terms suitable to all parties and they will be best to know the true market conditions for the property and types of spaces surrounding your property to know what sort of price properties are going for in the area. No insult at all to make an offer. That is part of negotiation. Offer / counter offer - back and forth till you agree or stop at a point and stand your ground - and/or find another place.

Mar 15, 2012
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Henry P.
Broker/Agent
New York, NY

Remember if you want to make money in Real Estate you must take chances you can even negotiate 40% what's the worst thing that can happen you hurt there feelings and they tell you no or -----!!!!. They might say yes and you just got a great deal.

Mar 16, 2012
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Michael J.
Fort Lauderdale, FL

Make sure you properly evaluate your offering price and have the fundamentals to back it up. If the property is REALLY only worth 50% of the asking price then you're in the right... Don't low-ball just to low-ball, you'll lose credibility and come off as uninformed. Better yet, ask the seller HOW DID YOU COME UP WITH YOUR LISTING PRICE???

Mar 17, 2012
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