Most private sellers overestimate the value of their used hot tub, and exaggerate how much it cost them when they bought it new.
For instance, a hot tub might have cost $9,850, but they may tell you they spent $15,000, because that was the grand total after all was said and done. After paying for the home electrical installation, accessories, chemicals, delivery, taxes and everything else associated with their hot tub venture hot tub, their final investment may have ended up being closer to $15,000, and that’s the number that stuck in their heads as what their actual investment cost them “all in”.
Also, they may not even be aware of how much it has aged since they purchased it, in the same way we don’t notice how much we’ve slowly aged because we look in the mirror daily. They may not notice how things that have worn out and faded over the years. Just because the hot tub “works”, doesn’t mean that it doesn’t need attention.
Here’s some tips on how to negotiate a lower price:
a) Ask for the paperwork showing what they paid
-If they can produce it, note the pre-tax, pre-delivery price of the hot tub and compare it to what they claimed they paid – call them on this.
-If they don’t have paperwork but try to use today’s prices for the same model as a reference, keep in mind that hot tubs have gone up in price like crazy over the last few years, so their cost was likely WAY less than what they cost now. Use yesterday’s prices as a reference, not today’s.
b) Mention known problems
-After going through this checklist, you’ll almost certainly one or more things “wrong” with the hot tub
-Causally mention the things that need attention in a factual and dispassionate manner.
-Ask if they’d be willing to fix those issues or if they’d reduce the price to help cover your cost of these things
c) Consider the removal access
-Perhaps get us to give you a quote for removal & delivery to your address, or point out potential access difficulties.
-Ask if they’d be willing to pay for the relocation, or split the cost, or reduce the price as compensation for this expense which adds to your post-purchase “landed cost”
d) Professional Back-Up
-We offer pre-purchase inspection services (D-8). Our detailed checklist includes mentioning what it needs now, and what it might need in the near future, and the costs associated with these things
-Being informed about these issues, the seller will be at a psychological disadvantage and in almost all cases, they will drop the price way more than the cost of the consultation.