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Making an offer on a house/apartment
I am first time property buyer (in Belgium or anywhere). I think I have found an apartment in Brussels on which I would like to make an offer. I have some questions:
Are there any typical rules or practices on amount of offer re asking price? I know it is up to me to decide whether the asking price is over-valued etc but I am just wondering about expected practice? I am good buyer financially.
If I make a low offer and it is rejected can I come back immediately with a higher one? Is there back and forth negotiation?
If the offer is binding (subject to seller's acceptance) at what point is it advisable to have any structural studies done, etc that would presumably affect the choice of whether or not to buy?
Anything else I should be aware of at this stage?
Everyone I know in my building bought their flat at between 10-20% lower than the asking price, if that's any help.
"If I make a low offer and it is rejected can I come back immediately with a higher one? Is there back and forth negotiation?"
Yes - I made a low offer (30% lower than asking price) which was refused, then immediately upped the offer by 10%, which was accepted within a day or two.
Good luck.
