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House Extended Market Time
DH and I are interested in a house which has been on the market 300+ days. It is in a great area, but likely not priced right. The owners was had only one price reduction in the time on market, for $10K. They have since relocated out of state.
After consulting with our realtor, we put in a price 10% below asking. The owners countered with an offer only $5K less than asking (it's ~ a $600K house).
Should we walk away from this? It seems like we will not reach a common ground, and I worry about this being a bad investment at $5K below asking. We plan to stay long term, but you never know in life. What if we got transferred for a job, etc- then we would be the ones sitting on the market for almost a year, trying to recoup our money.
WWYD? Am I being unreasonable being concerned about this?
Re: House Extended Market Time
It sounds like the owners are able to sit on this for awhile and aren't motivated to sell. Due to that, they have a price they want and aren't going to budge much from it.
In your case, I'd move on to another house.
Personally, I think you answered your own question. If it's not sitting well with you now, it will always be hanging over your head. It seem slike you have "buyers remorse" now, and you have not even had an inspection.
I agree with this also. The sellers are in no hurry, or possibly hoping it will go back to the bank. I would decline the counter offer, and move on.
i agree with the others. walk away from this. if in a few months, you still can't find a home....come back and offer your original amount again to them.
sounds like they're being stubborn. hubby and i ran into this situation and we had to walk away from a really nice house that had been on the market for 200+ days.... funny part -- that was a year ago, and its STILL on the market.
some people like wasting money....
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