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.
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Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Multiple offers
We are about to put an offer in on a short sale. They have a cutoff date for offers that's approaching and they have already had an offer. The listing price is $100,000. We would be looking to get closing costs included.
Would an offer of asking price with closing costs be a good offer? Or should we just offer the full asking price? Is it common to offer full asking price? We absolutely love the house and it's right by where my husband teaches so would be perfect for us.
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Re: Multiple offers
Agree to not ask for closing costs if it is a multiple offer situation. In fact, you may even want to go in above the asking price, depending on the comps and how badly you want the house. If you do want closing costs paid, you could raise the price to accomodate for them -- for example, offer 104K with 4K back in closing, which is basically still a full price offer. However, some sellers would consider this weaker than a straight 100K offer because they may perceive you as less financially secure if you need the closing assistance.
This is what we're considering at the moment - offering above asking price. We are still unsure whether to ask for closing costs. It would be really useful to us if we could include them (first time homeowners), but if we can't then it's not a massive deal. Our agent is drafting the offer over the weekend so we have a couple of days to decide.
We did this, but it still makes it a weaker offer because of the appraisal. The house MUST appraise at the sales price so if you're going to offer $106K with $6K back for closing, the house has to appraise at $106K. If it doesn't there will be a problem getting the deal done because banks are very strict these days. Offering a flat $100K with nothing back would definitely be stronger.