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Counter offer=Full asking price
Well we found a house that we love and the asking price was 131,900. We put our first offer in at 110,00 with her paying closing cost and she came back 2 days later at full asking price. We then put another offer in of 115,000. She came back 2 hours later at full asking price. I am confused. I figured she might come down a little. Have you heard of people not budging on price. I do get the fact that we did put the offer in when the house had only been on the market for 3 weeks! Soo I am sure this is probably alot to do with why she didn't budge. Just curious if anyone had this happen to them too? We decided to walk away and keep looking... I was disappointed to say the least : (
We will keep an eye on the house to see if she comes down ....
Progesterone level 4/2011= 11.29. SA normal. HSG normal.
8/11 Clomid 50mg=BFN progesterone level 35,
10/11 Clomid 50mg =BFN progesterone level 31,
11/11 Clomid 50mg=BFN progesterone level 12,
12/11 Clomid 50mg=Progesterone 31
01/12-Break from meds-BFN
Feb-cd3 blood work FSH(5), AMH(0.56) 02/12 Break....
03/01/12-Clomid 50mg with IUI #1=BFN.
04/01/12-Another round of clomid with IUI#2=BFN.
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June and July-much needed break
August-Bravelle 75 with IUI#3- BFN
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December- Bravelle(3 good follicles & E2 1252) with IUI#5 BFFN
(
Currently on a break..deciding what to do next while trying to save money for another round of whatever we decide
Re: Counter offer=Full asking price
THey probably have to pay off the existing mortgage and cannot bring cash to the table for a difference, much less pay your closing costs.
I would try once more at 120K and you pay your own closing costs if you are really interested in the house. It really depends on recent local comps and your realtor can help you with that. If 131 is competetive, then they will hold out for a bid close to that number.
Yes. If the first counter is full asking price, then usually the seller is not going to negotiate the price with you at all.
You may have pissed them off by coming in about 20% under asking price. That is an extremely low offer. You basically offered them what, $106k for a house listed at $131k. I realize that this should be a business transaction but that is very low unless it is grossly overpriced. If that is the case they will figure that out soon enough. If the house is priced right then there is no way I would have accepted that offer either. Are they coming back at full asking price and not offering to pay closing costs or are they coming back at $131k plus they will pay your closing? If that is the case then they are coming down in price.
It is easy to forget that paying your closing costs will be an additional 3% out of there pocket at the end of the day. People get hung up on the price and don't take into account that the seller paying the closing costs is costing them a lot of additional money.
I am not passing judgement, but if the price is in line with comps and you just can't afford that price, I would suggest you look at houses more in line with your budget so you don't keep getting rejected. I don't know many sellers that would go down 20% in price.
You offered nearly $22,000 below the list price and asked for closing costs (roughly $4,000-$6,000?) on top of that... is the house really that far overpriced?
Or did you over-step your budget and fall in love with a house that you can't afford, hoping the sellers would take a low-ball offer?
Not everything is as it appears on HGTV...
http://pandce.proboards.com/index.cgi#general
Your first offer was REALLY low and if I was the seller would have taken that as an insult provided I priced the house fairly and it was in good condition.
I'm suprised your realitor didn't say something about the lowball offer.
We bought our house last month, and the seller only came down $2,000 after several negotiations. (The house was priced just a little higher than the one you tried to buy.) We did not ask for closing cost assistance. But, we'd already gotten comps and knew that the asking price was exactly right and what the house was worth, and we had already decided we'd go ahead and pay asking price, if necessary.
Basically, my advice would just be to make sure before you make an offer that you have accurate comps on houses nearby, and that your offer is in line with the comps.
If the house is overpriced and you're making a fair offer and they still won't budge, then the seller is being unrealistic and there's nothing you personally can do. Like PP said, they probably have a mortgage to cover. Like my seller, they might not *need* to move right now, and they're willing to wait for asking price. Or they've been in the house forever, including when it was valued higher, and they are being stubborn and sticking to an outdated value of the home. It happens. They'll eventually lower the price, but it may take a lot of time on the market before they accept it.
~Benjamin Franklin
DS dx with celiac disease 5/28/10
Like the other posters said, it's really hard to provide advice on your post without knowing anything about the comps. Here's my experience:
We're in the process of purchasing a place, and we're paying asking price with the seller giving us money for closing costs. Our initial offer was lower than asking, and the seller came back with a counter at full asking price but agreed to our closing costs. My DH and I thought the price was fair given the condition and the comps, so we signed the contract. The house appraised for $10K over purchase price, so we feel like we made the right decision.
Another property that we were interested was priced over what we felt was reasonable given the comps. It hadn't been on the market for very long, so we didn't bother putting in an offer because I don't think the seller was ready to admit that the property was over-priced. It was (I think) over-improved for the neighborhood, and it seemed like they were trying to recoup some renovation costs.
We put in the offer on the first house on Nov. 28th--the second house is still on the market. If the house you're interested is that over-priced, I doubt the seller will come down that much any time soon. GL!
1. if the house is priced fairly or only slightly higher than it should be per comps, your offer was way too low.
2. if the house if priced too high, the sellers may still be in denial about the right price of their home. in that case, you should have waited a bit to offer and let the market do its work/show them it's overpriced.
When we were trying on selling our town home last year we got offers that were low and we could not negotiate. We bought the property in 2003 and paid 150k because it was a dump, similar properties were going for 180k. We put 30k into the place and tons of sweat( I can't say equity). We were willing to pay 10k to sell the property but that was it. Our best offer we would of had to pay 20k. We ended up renting the property and are breaking even. My point is some people can really only go so low.