The market today is not a “typical†market where the standard procedures of negotiating applies to every scenario.  Many buyers come into the market expecting to follow the procedures of buyer submitting and offer, seller countering offer,  terms negotiated back and forth.  The scenarios that exist today that I experience firsthand through the numerous offers I present on behalf of my clients run the gamut. In certain situations, offer-counter-offer, playing it along,  is the way to go. In other situations….it is what it is.
I want to address properties being sold by owners not in distress. Â There are properties listed today, by very motivated sellers. Â In some cases, they have priced their property at the rock bottom price that they are willing to sell it at. Â No negotiating. Â This is a marketing technique. Â I have come across this situation several times, from both sides of the fence, representing both a buyer as well as for a seller in which I represent.
One of my listings at Canyon Ranch, unit 301, is priced very aggressively the seller is not negotiating, and that is clearly explained.   I have received offers below the asking price, and I certainly understand why a buyer would try.  However, the issue that I  have come across is that buyers are getting “insulted” that they have not received a counter offer back below the asking price.    The owner has set their bottom price and it is what it is. It is not a distress sale.  There is no negotiating at all ….. The process is not the issue.  The property is the issue. Each property has to be evaluated.  Recently, I was working with a buyer that came in with a very low offer.  The seller responded back with their bottom selling price.  The buyer was insulted.  The process is not the issue the property is the issue.  Evaluating value.
Sales are up in South Florida and there are many many buyers out there scooping up  unique buying opportunities. Statistics prove it.  We are going into our season and this is going to continue and increase. Building after building that I investigate for my clients are reflecting growing lists of units that have gone to contract and are “pending salesâ€. Especially, in luxury buildings, the lower priced units are selling.  In Miami Beach, Bal Harbour and Sunny Isles,  there are over 311 oceanfront condos that have gone to contract and are pending closings.  37 of those are priced at over $1 million.  In November 2008 there were only 58 pending oceanfront condos.  In Broward county, which includes Hallendale, Hollywood, and Fort Lauderdale, there are 250 oceanfront condos that have gone to contract and are pending closing.
There are great opportunities in the market, however, whether it is a pre-foreclosure, bank owned, Â or motivated seller, expect the unexpected !
Tags: Bal Harbour, Canyon Ranch Miami, Fort Lauderdale Oceanfront Condos, Hallandale, hollywood, miami oceanfront condos, Negotiating oceanfront condo, oceanfront condo deals, sunny isles
