Using comps to negotiate a great deal

[Mila Makhanova]

Hi BP community, 

I'm about to make my first offer ever and looking for some advice on negotiating techniques. I found a 1 bedroom apartment that fits most of my criteria, basically I love and it seems to be in line with my budget, so I don't want to offend the owner by making a very lower offer. I'm looking it at purely from numbers point of view. It's a 650 sqft apartment in Westchester, the original asking price was $329k and two weeks later it was lowered to $299k. I also learned that a similar apartment (same layout, different floor) was sold in this building in June for $280k. in July. Also, there was a slightly bigger and nicer apartment (750sqft) with balcony and on the last floor sold for $281k in June. The only thing that bothers me a little bit in an apartment I'm considering is a stain on the ceiling of the bedroom. I was told there was a flood on a floor above it, but it doesn't see to be a big deal, def. not a deal breaker. So, I think that the fair asking price should be $280k (might be even lower) and in order to get it for this price, I should probably offer $270k and then negotiate to get the price close to $280. Also, it seems that the owner is looking for quick cash flow. This apartment was on a market for only three weeks and the owner is offering to rent it and in case it doesn't get sold. Any thoughts? 

Thanks for your help,