Boaderline Insulted

SteffyC · October 2010

So DH and I just put an offer in on a townhome that has been on the market for 12 days. We offered $20 thousand less than they were asking (less than 9% of the total price though) and offered to close whenever they wanted. Most homes in the market are within $10 thousand each way of our offer which is how we based that. The other houses we saw were also on the market for at least 100-150 days+. The HOA's are unreal which was why we made the offer we did, keeping us in the payment range we wanted.

We got a call back from our realtor this morning (we placed the offer yesterday afternoon), she said she had heard back from the sellers agent and that her sellers were boarderline insulted by our offer and wouldn't even respond with a counter. I guess maybe I am confused because I thought the point of submitting an offer was to negotiate and we most certainly did not mean to insult anyone. Am I wrong here, what is the best course of action to move forward. I do not want to insult anyone again but at the same time we have our limit too and I am a little insulted they won't even counter us...

TIA and big glasses of wine to those of you who made it through this post!

Mrs.N.H. · October 2010

I think it's all due to the fact that the house hasn't been on the market that long, so I guess they are still thinking they can get anything they want. Just wait after a few months go by they will get sick of paying the extra morgatge and they will be more open to negociate.

Mrs.G_09 · October 2010

Mrs.N.H.:
I think it's all due to the fact that the house hasn't been on the market that long, so I guess they are still thinking they can get anything they want. Just wait after a few months go by they will get sick of paying the extra morgatge and they will be more open to negociate.

Ditto. Our next door neighbor's house just sold after being on the market for a year. Until this past May they were trying to sell it on their own and wanted waaay too much. We found out the offer they accepted was 70K less than what they put it on the market for.

Personally, I would be hesitant to continue dealing with the homeowners because it sounds like a huge headache in the making.

FutureMrs.McC · October 2010

Ditto PPs. Those people sound completely unrealistic and pretty out of touch. I could see if you offered something ridiculous like half of the asking price but it sounds like your offer was reasonable and well researched. Do you have an agent? If so, what was their response? I always think it's weird when people say stuff like this. I don't really understand why an offer lower than the asking price would insult someone. Just counter with what you want. I hope you post that the house is still on the market 6 months from now with a price reduction lower than your offer.

Izzybeth3 · October 2010

I've never been through this before, but it doesn't seem like you were unreasonable. That would have been a starting point for negotiations, not the end. Hopefully you either find something better or they come to their senses.

SteffyC · October 2010

Thank you ladies!! We absolutely thought the same but I got a call from our Realtor saying they were just stunned at market values now and because they had WAY over paid for the home in the first place taking a hit like that was just crazy to them. I guess its being sold with the help of a relocation/corporate service so they told my Realtor this morning that their bottom line is just below what they had asked, so we may do some negotiating for HOA payments/appliances and see where we come out! Fingers crossed

FutureMrs.McC · October 2010

SteffyC:
Thank you ladies!! We absolutely thought the same but I got a call from our Realtor saying they were just stunned at market values now and because they had WAY over paid for the home in the first place taking a hit like that was just crazy to them. I guess its being sold with the help of a relocation/corporate service so they told my Realtor this morning that their bottom line is just below what they had asked, so we may do some negotiating for HOA payments/appliances and see where we come out! Fingers crossed

. Good luck! Doesn't it make you wonder how people can be that clueless? Do they live under rock?

Bridget_11 · October 2010

This sounds familiar! We were told the same thing on our house. Turns out they weren't that insulted since we've lived here for over a year! Some people are just so attached they feel its worth more than it really is. Ours was an estate sale and the daughter didn't want to realize that the house hadn't been updated since the 70's so it wasn't worth what she saw other houses selling for. As long as your realtor pulled comps and felt you were offering within range I'd say they were just overreaction or being dramatic. God luck on your house hunt!

Boaderline Insulted

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