Buying A Home
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
price negotiations
We have our townhouse listed for sale for $285,000. It's been on the market since August 1st. We started at $300,000, dropped to $292,500, and more recently to $285,000. We just got an offer for $250,000. We are thinking of going back at $280,000. If you made a 250 offer and the sellers came back at 280, would you be offended? Or think they weren't going to work with you? Or just counter for more than 250? TIA!
Re: price negotiations
Ditto PP. If the house is priced correctly at $285k and they came in with their bid of $250k then they are probably assuming you will counter at a much higher price. If you are way overpriced they may just assume you aren't being realistic and you won't be willing to go down far enough for it to work out.
The people we are in contract with put in their initial offer at 18% below list price and we countered. They walked away and we went under contract with someone else the next day. That contract fell through and they came back to us a few days after we went back on the market and upped their price to just under 5% below list which worked for us so you never know, could just be a stab in the dark for them hoping you will jump on any offer.
Also, they are a young couple about to get married. They looked at our house when it went up for sale, but it was the first one they saw. They looked around for 2 months, didn't make any offers, and then came back to ours and made this offer.
As a buyer, my reaction would depend on the comps. If you are way overpriced, then I would think you weren't willing to negotiate.
ETA: I was posting at the same time as you. Based on the comps, I think a counter at $280k is reasonable. Hopefully, they were just testing the waters and you will get a more reasonable counter from them.
Ditto this. It could just be an effort on their part to get a great deal hoping you are really want to sell since you have been on the market for a while. Counter back. The worst that happens is they walk.
This! GL!
I think I'd be annoyed, but not run off right away. If you have a great location or lots of upgrades, it would make me think it over, if it's all builder-grade, eh.
In the Philly area you can build a brand new townhouse for $200,000, they are popping up everywhere.