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Davaoeno

selling a house in the Philippines

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ex231    3,773

 

however since you mentioned it, i guess it's ok for others to give their opinions. your house looks fantastic, it's well built and the location may be suitable for quite a few who wish to be in that area. what i suggest is, try not to be so antagonistic in your efforts to sell. if you draw a line in the sand with such over the top declarations like above, then don't be surprised if potential buyers are put off. the only "BS" so far i've seen is you declaring you don't care if it's sold. if that's true then pull your ad and keep the house.

Different personalities result in different perspectives I suppose.

Personally I don't take his comments as antagonistic, I take them as "this is the deal, these are the terms,so don't waste my time." I'd rather deal with someone like that than the wishy washy "it's negotiable" or "it's up to you" types. I prefer a straight shooter that lays it on the table, but that's just me.

 

He's spent time dealing with looky loos, people that want to buy it but can't, people that want to buy it but on terms completely different than what cebubird has set, people that want to buy it and then decide it's not for them, and people that think they smell blood and try to steal it. I'm sure it gets old after a while.

 

I don't think him saying "I don't care if I sell it or not" is completely true but I would venture to say that he's not going to lose any sleep over it either way.

 

As for pulling the ad he's set a deadline that if it's not sold by a certain date then he'll do that and it's no longer on the market.

 

jmho and the way I see it .. ymmv

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Davaoeno    29,861

 

 

I'd rather deal with someone like that than the wishy washy "it's negotiable"

 

 

What i was trying to say was that things are much different here than in the markets which we are used to, and that the " my way or the highway" attitude is most of the time not going to get the job done here.   And that making things negotiable is not wishy washy , but actually pragmatic .

 

To say that " anyone who can only come up with $9500 cant afford to buy a house" is a mistake.  That $9500 is actually over 400,000 pesos and is serious coin here.  People do not walk away from that kind of investment.  Once you have the down stroke and 3 or 4 monthly payments the buyer is well and truly hooked and there is no way they are going to default and lose that investment.  Plus the loss of face to the buyers friends and family if he defaults is often here more important than the loss of money .

To a pinoy buyer financing is a normal part of life. Often they dont care how much the interest is , nor how many years they will have to pay . They want the bragging rights about " my new house"  and make it a focal point of their social life.   The interest rate on my BDO Visa card is 3% a month, and I bet most BDO  card holders dont hesitate for a minute to run up as big a balance as possible. Its all part of the Pinoy " live for the present" attitude, and you can make it work for you when selling your car or house= if you are willing to let go of some of your western attitudes about selling things.

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Hy H    1,986

 

 

To say that " anyone who can only come up with $9500 cant afford to buy a house" is a mistake.  That $9500 is actually over 400,000 pesos and is serious coin here.  People do not walk away from that kind of investment.  Once you have the down stroke and 3 or 4 monthly payments the buyer is well and truly hooked and there is no way they are going to default and lose that investment.  Plus the loss of face to the buyers friends and family if he defaults is often here more important than the loss of money .

 

True.   But as the seller.  He maybe not keen on the idea having to negotiate any arising issues from other side of the world if things starting to go pear shape. financially or otherwise. Maintenance issues?  Private repayment system can be legally binding for five years, or is it?  I for one would have lots of worries.  Renting the place thru an estate manager would somehow seem lot more comforting if one cannot find an outright cash buyer or buyer with approved bank loan.  Hopefully one will come up and drop full payment on the table even at slightly reduced price would be the best result imho.  

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bahalina buong    933

Strange thread.  The OP has stated many times in various threads that Filipinos typically aren't interested in high-quality, pre-owned homes, but now he wants to give advice on how to sell this nice house to pinoys, as if the seller has been doing it all wrong.  I agree with the advice, in general, but I don't think it applies to the obvious target of the thread.    

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bargeman    977

Flexibility is undoubtedly the keyword when selling houses in the Phils.

The seller has to adjust to the market and not dictate to it.

Very good advise from the OP.

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bargeman    977

 

 

Renting the place thru an estate manager would somehow seem lot more comforting

 

Definitely a non starter from my experience.

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jtmwatchbiz    24,075

 

 

he wants to give advice on how to sell this nice house to pinoys, as if the seller has been doing it all wrong. I agree with the advice, in general, but I don't think it applies to the obvious target of the thread.

 

well according to cebubird the clock is ticking so let's see if you're right.  my opinion is unless he is more open to workable financing or slashes the cash price to make the locale more attractive to a larger number of buyers he is gonna own the house for a long time.

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Davaoeno    29,861

 

 

t now he wants to give advice on how to sell this nice house to pinoys, as if the seller has been doing it all wrong.

 

 

all i am doing is making some suggestions based on my experience selling houses here.  I assume that you and Cebubird are adults and will make your own decisions about how you will sell your house.  

 

You say " now he wants to give advice"-  if you dont like my advice then just ignore it. I assume you already know better how to do it.  And if you dont want to hear my suggestions why are you even reading this thread ?

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jtmwatchbiz    24,075

Definitely a non starter from my experience.

 

 

wouldn't even be a remote possibility for me. if it came to that i'd dump it for a big discount before i chose to be a landlord from the other side of the world.

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Davaoeno    29,861

 

 

True.   But as the seller.  He maybe not keen on the idea having to negotiate any arising issues

 

 

and no one is forcing him to negotiate anything.  If he doesnt like my suggestions then he will just ignore them.  He obviously has his own way of trying to sell his house. I am only saying what i find works.   

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