Friday, October 21, 2011

.: Project Casa : Negotiation Stage :.

Project Casa
I, like most women, love a good bargain.
JC, like most men, couldn’t care less.

When we go shopping, especially to places where prices are not fixed, it really frustrates me that JC is willing to pay the first price quoted by the vendor. I, on the other hand, would get the satisfaction of even a RM1 discount. Ok, fine. The RM1 discount may be grossly exaggerated. But what I meant is that I wouldn’t want to pay a price that is higher than what I can get elsewhere.

So when it comes to negotiation of price, it’s usually my forte. And tho I have had some informal training from, in my opinion, the most brutal bargain hunter aka my Mom, I believe that I am nowhere near her skills, but still well within the range of a good bargain hunter.

Anyways, after a few investment props hunting escapade, we manage to secure one that is of a bargain price at a, what we believe, upcoming area. The price of this condo units have already shot up late last year, almost double it’s value from the developer’s price. Believe this price hike is driven by the proposed LRT. Amazing how accessibility to public transport (no matter how much we complain of our Malaysian’s public transportation system) can uplift the value of one’s property.

When we checked out this place, we immediately liked it and decided to place an offer to the agent the next day. After praying about it (most critical step in any decision one make), we quoted a price we believe is fair (after whipping up our NPVs & ROIs & CFSs and what not). The agent became our mediator in this battlefield, where the owner tries to yield as much as they can get and the buyer to squeeze down as much as they can afford. In the end, it was a short battle. And both party sealed the deal at a pretty much what I would call a good bargain price. JC was quite surprise that we manage to lock in at this price, coz he was, at his end, more than willing to pay slightly more. I on the other hand was more firmed with the initial price that we offered.

Now I pray that the S&P and loan securing process will be as smooth as this negotiation process.

Oh ya, and I am off to shop for a new diamond ring from the money that I will get from JC on the ‘savings’ I worked for from this negotiation (told ya I can nego, JC!) :)

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