I am here on vacation but really like the city. I found a real estate website zonaprop. I contacted many listings but no one has gotten back and it has been a week. I don't understand it. Does no one respond? I was wondering how much are properties closing for vs listing price? I am wondering how low they will accept?
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Buying an apartment in Buenos Aires how much to offer??
- Thread starter Petey
- Start date
Betsy Ross
Well-known member
January is a terrible month to look for real estate. Many realtors and probably owners are all on vacation. Many do not work at all in January. Realtors here are not particularly good to begin with but January doesn't help. The market has picked up. I don't think there is big differences. There are some articles on the real estate sales section so you should look there.
Betsy Ross
Well-known member
I did a search and found this article @Petey
No negotiation: why there is almost no room to discuss the price of a home in a real estate transaction - Infobae
Source:
www.infobae.com
December 12, 2024
The smaller difference between listing and closing prices reflects a more dynamic market, with declining supply, rising demand and greater precision in appraisals that drive more purchase and sale transactions.
By Jose Luis Cieri...
Source:
Sin negociación: por qué ya casi no hay margen para discutir el precio de una vivienda en una operación inmobiliaria
La menor diferencia entre precios de publicación y cierre refleja un mercado más dinámico, con oferta en descenso, demanda en alza y mayor precisión en tasaciones que impulsan más operaciones de compra venta
www.infobae.com
December 12, 2024
The smaller difference between listing and closing prices reflects a more dynamic market, with declining supply, rising demand and greater precision in appraisals that drive more purchase and sale transactions.
By Jose Luis Cieri...
Thank you! That makes sense about vacation. I see many shops closed. I will read the article. Thank you so much.I did a search and found this article @Petey
No negotiation: why there is almost no room to discuss the price of a home in a real estate transaction - Infobae
Source:
Sin negociación: por qué ya casi no hay margen para discutir el precio de una vivienda en una operación inmobiliaria
La menor diferencia entre precios de publicación y cierre refleja un mercado más dinámico, con oferta en descenso, demanda en alza y mayor precisión en tasaciones que impulsan más operaciones de compra venta
December 12, 2024
The smaller difference between listing and closing prices reflects a more dynamic market, with declining supply, rising demand and greater precision in appraisals that drive more purchase and sale transactions.
By Jose Luis Cieri...
BuySellBA
Administrator
@Betsy Ross is correct. January is a very slow month with many people off on vacation. You will see signs like this on many storefronts with them taking the entire month off and going on vacation. Many owners don't allow showings when they are not in town.
Also, if you are contacting the listings on Zonaprop in English they may not get back to you either. Many realtors don't like dealing with foreigners as they think sometimes get bombarded with people just asking about real estate that don't live here. It's always good to have your own buyer's agent. Feel free to DM us and we can refer you to some agents.
Just keep in mind that realtors here are not like realtors in the USA. There is no formal MLS system here and customer service isn't as good as in the United States.
There aren't big differences in listing prices and acceptance prices right now. In the past few weeks we've only seen sellers accepting on average about 5% less than listing prices. There might be exceptions to that but the market has picked up and property prices have also moved up. In new construction projects just breaking ground we are seeing prices move up each month.
Also, if you are contacting the listings on Zonaprop in English they may not get back to you either. Many realtors don't like dealing with foreigners as they think sometimes get bombarded with people just asking about real estate that don't live here. It's always good to have your own buyer's agent. Feel free to DM us and we can refer you to some agents.
Just keep in mind that realtors here are not like realtors in the USA. There is no formal MLS system here and customer service isn't as good as in the United States.
There aren't big differences in listing prices and acceptance prices right now. In the past few weeks we've only seen sellers accepting on average about 5% less than listing prices. There might be exceptions to that but the market has picked up and property prices have also moved up. In new construction projects just breaking ground we are seeing prices move up each month.
How much is too low?
earlyretirement
Moderator
Wally is correct. If you offer too low they won't take you seriously and just won't want to deal with you again. I've seen that plenty of times here. Typically you can try to offer 10% lower but that just isn't happening right now. That article is accurate. The past 5 properties I have purchased for clients it's been about 5% to 6% discount. No more than that.
When we sold our first apartment in BA we got foreigners that were trying to offer 20% lower. We told them to take a hike!
Avocado
Well-known member
All the foreigner people think they do us favor. My brother sold his apartment a few years ago and he get crazy low offers from Americans. The funny thing is they say 'but we will pay all cash!'. 🤣🤣🤣
Realtors in BA are the worst! I actually got an email from this local realtor that wanted me to pay him a fee for him to start looking for me! Crazy! He wanted me to pay him. I thought I saw everything.
old fart
Active member
Try finding a local agent. Much easier. January is horrible for looking at real estate. Everyone is gone.
Digital Nomad
Well-known member
Definitely recommend to have your own agent. But go into the search knowing it is much different than back home. It is a big hassle here because not all the properties are active on zonaprop. A lot of hoops to jump through here. They don't use lockboxes here and setting up appointments is difficult. Very frustrating process. I found a decent agent but there is only so much they can do if they aren't the listing agent.
I got close a few times but deals fell apart for one reason or another. One owner first accepted the offer then backed out and tried to demand more money. Another we agreed on everything and then at the last minute told me that she wanted to only use 50% of the true price! Another we agreed to split the cost of an armored truck to transport money and then the owner tried getting me to pay all of it. A lot of games here. Just go into the search knowing it is not like in the US.
I had the same thing happen when I bought my 2nd apartment. The first was very easy because I bought an off plan at pozo stage and it was easy (and cheap). 2nd purchase was same kind of experiences as you @Digital Nomad. But did finally close.
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