First time investing in Montreal- negotiation

[Mor Elkobi]

Hello,

I am planing to make a flip on condo in Montreal, i am new to this market relatively (4 Months), and in generally to this country.

So i have couple of questions that i will love to get an opinion on,

1-Is there any option to find out about closed deals that happened in a specific area/neighborhood?

deals that been closed and registered in the country/city official records? is it an available information? i know couple of countries that have this options.

2-To who ever experienced in negotiation ,what can be a "normal" counter offer in here, i know it depends in alot of things , but for example if i have an asking price of 200,000 is it a reasonable thing to give a counter offer of 140?

Thank you very much in advanced for any knowledge being shared.

[Youssef M.]

Hi and welcome, Mor!

I am from Montreal as well but invest in the Laurentians.

I've only closed on one property and am negotiating on a second so take my advice with a grain of salt.

1. Real estate agents can help you with comparables. They have an easy time finding similar properties in high density areas.

2. Negotiations change from one property to the next because the people change. I suggest you decide what your final price is before you submit your first offer.

Note: something I find odd but seems standard is the EXPECTATION that a renegotiation will happen after the inspection. So much so that sellers seem to withhold an amount they expect to lose after the report comes in.