So here's what happened with our offer (home purchase)
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Poast new message in this thread
Date: January 26th, 2018 12:19 AM Author: Buff ratface
Home we were looking at buying has been on the market for about 3 months. We went in about 12% below asking with our initial offer. They responded that it was far too low and they wouldn't even bother with a counteroffer. Our agent said her overall impression is that the sellers have an unrealistic concept of the value of the property.
So now we are stuck. Not really willing to pay more than it's worth.
(http://www.autoadmit.com/thread.php?thread_id=3871436&forum_id=2#35241231) |
Date: January 26th, 2018 12:47 AM Author: rebellious hateful son of senegal
Falling in love with a specific single property is the worst thing you can do in real estate and the easiest way to self-screw. If the numbers don’t work for you, walk. Move on.
(Experience: bought several houses both primary residence and rentals; rejected many more when the numbers didn’t work. I get that you love it and it’s tough, but you gotta walk. Or put in a second offer for 3% higher but explain that’s it, if you like.)
(http://www.autoadmit.com/thread.php?thread_id=3871436&forum_id=2#35241429) |
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Date: January 26th, 2018 1:05 AM Author: Sexy tattoo
Changes everything said ITT imo. I wouldn't take that on either esp in winter.
A leaking tank may require environmental remediation of the surrounding soil and any nearby water sources if the tank held fuel. If the tank was damaged due to age, soil conditions or severe weather, it may cost more to remove. Remediation may cost $10,000 or more depending on the scope of the pollution.
https://www.homeadvisor.com/cost/plumbing/remove-a-water-or-fuel-storage-tank/
(http://www.autoadmit.com/thread.php?thread_id=3871436&forum_id=2#35241550) |
Date: January 26th, 2018 1:10 AM Author: Boyish very tactful feces tanning salon
Your offer was fine.
You offer what the home is worth to you, they will hold out for what they think it is worth to them.
If somebody else overpays for the house, good for them, but it's no skin off your ass
(http://www.autoadmit.com/thread.php?thread_id=3871436&forum_id=2#35241580) |
Date: January 26th, 2018 2:08 AM Author: glittery chapel
That's offensive and I kind of respect them pulling an alpha move and telling you to fuck off. It's a waste of their time and you were so far off the reservation that they knew dealing with you would be a nightmare. 10% is a shit ton to ask for in a house purchase; this isn't a pair of sneakers.
The cr strategy would be underbid by 5% and claim your offer is very time sensitive, or try to waive the fees.
By the way, you keep mentioning "what the house is worth" ITT. As much as zillow wants you to think there's a fair market MSRP for a house, that's not the case. Clearly, your issue is you don't know what the house is worth. Your agent sucks and you should fire them immediately for this.
(http://www.autoadmit.com/thread.php?thread_id=3871436&forum_id=2#35241822) |
Date: January 26th, 2018 8:41 AM Author: comical stage haunted graveyard
I was in the exact same situation once. We fell in love with a house and the sellers were completely unreasonable. We walked away and found another house that, while not as nice, was much cheaper and in a more convenient location.
The sellers of the first house took it off the market without a sale.
(http://www.autoadmit.com/thread.php?thread_id=3871436&forum_id=2#35242455) |
Date: January 26th, 2018 8:51 AM Author: Autistic windowlicker
I stand with OP. Lol at all you fags getting emotional, "bbbb-b-but 12% off is offensive!" Sellers haven't gotten a single offer in 3 months. They finally got an offer. "Oh, but it was offensively low!" Ok, then counter-offer with only a small discount. Or just say fuck it, like they did.
The big difference is OP can just move on and engage another seller. The people in the house have one house, and who knows when someone will want to offer them again.
(http://www.autoadmit.com/thread.php?thread_id=3871436&forum_id=2#35242476) |
Date: January 26th, 2018 4:18 PM Author: Flatulent university pervert
Just keep looking. Don't pay more than FMV based on the seller's misconception of what the place is worth.
My house was drastically overpriced, something stupid like $515k or $525k which was perhaps 10% above where it should have listed. It was overpriced enough to not get any interest, so I hit them straight up with dat 20% below list offer. I represented myself so I didn't have a faggot agent interfering with or putting the wrong spin on my strategy.
They countered very high, and I went straight to work on their agent, who was very motivated to get a deal done. Had a lot of conversations with her about what the house was really worth, and that I wanted to put up more money but I couldn't when it was so overlisted. Eventually I got the deal closed negotiating face to face with the seller in his own kitchen and his realtor also there. He was a used car salesman (owned a few dealerships) and I completely crushed him. I paid about 16% below list.
Had he properly priced the house he would have gotten more, but he felt pressure to get a deal done with me because there weren't other offers. This only worked because I did it myself, realtors want to preserve relationships with colleagues and won't go to bat for you like this. Also, because I did it myself, I negotiated for the commission that would have gone to the buyer agent to pay all of my closing costs instead.
(http://www.autoadmit.com/thread.php?thread_id=3871436&forum_id=2#35246690) |
Date: January 26th, 2018 4:32 PM Author: Bonkers mind-boggling sanctuary legend
3 months is a long time for a house to sit on the market with no offers ITE. If your offer was reasonable and based on comparables, then you are only going to dig your own grave by negotiating against yourself before they even throw a number out there.
These people either don't really want to sell the house, are heavily leveraged or are delusional.
(http://www.autoadmit.com/thread.php?thread_id=3871436&forum_id=2#35246818)
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Date: January 26th, 2018 5:08 PM Author: Umber hyperactive faggot firefighter round eye
I probably would have gone about 5% under market value.
Usually there's not 1000 back and forths on residential home negotiation on price issues. You have to signal your willing to play ball from the very first offer.
(http://www.autoadmit.com/thread.php?thread_id=3871436&forum_id=2#35247265) |
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