topic Re: Real estate offer in Among Friends

Real estate offer

Elom — Wed, 18 Oct 2017 14:12:17 GMT

Well I thought I would finally be moving on with my life and got an offer on my house from a couple who thought my house was beautiful. What a low ball offer i got. Well my realtor advised being aggressive with counter to see if they are serious. Oh well there was hope for a few minutes,

Re: Real estate offer

chrystaltree — Wed, 18 Oct 2017 14:16:40 GMT

Of course they low balled you, they are negotiating. That's the way the real estate game is played. The realtor will handle it.

Re: Real estate offer

millieshops — Wed, 18 Oct 2017 14:22:44 GMT

@Elom I'd assume there's still hope, but there are many factors to consider, the biggest one probably being what you have to have to get out of where you are. If you (and your realtor) know that, you have a good starting point. I also assume you left some room for negotiations because few buyers automatically pay the asking price in most markets. Therefore, I'd follow the advice and make that aggressive counteroffer and see what happens.

I do hope that buyer's realtor can talk them into raising their offer. It does happen - unles they are just "fishing" in prices they really can't afford.

Good luck.

Re: Real estate offer

tansy — Wed, 18 Oct 2017 14:42:27 GMT

If your home has been on the market longer than 60 or 90 days without an offer, you will most likely get a low offer.

Re: Real estate offer

henderson — Wed, 18 Oct 2017 14:48:03 GMT

We got a low ball offer once on a house we were selling. We were slightly offended and thought they were wasting our time. A few weeks later we sold our house for a good price.

Re: Real estate offer

Hoovermom — Wed, 18 Oct 2017 14:50:40 GMT

@Elom: Only you can accept the offer or not. If it is too low, counter with the bidder and see where it takes you. Again, if it is too low, decline the offer. Good luck!!

Re: Real estate offer

Q4u — Wed, 18 Oct 2017 15:29:45 GMT

We had a very low ball offer on our last house... with a very aggressive/bully realtor for the buyers. About 6 1/2 years ago and the market had dropped and the realtor decided to bully us into an unrealistic price. We did not cave and another couple became interested but before they offered, the original couple came up in price enough to buy the house.

We went across the country and found that there is an unspoken percentage here that a buyer can negociate down without the seller becoming insulted enough to cancel all negociations and refuse to sell to them, which I understand will happen here. This was advised by our realtor when we got here. So, now that we are selling our house (with the same great realtor) we are in this turmoil once again. Moving from the country, sizing down and into the city. Hopefully we will be "on our way" soon.... Good luck to you, hope you get an offer you're pleased with...

Re: Real estate offer

chrystaltree — Wed, 18 Oct 2017 15:56:59 GMT

@tansy wrote:
If your home has been on the market longer than 60 or 90 days without an offer, you will most likely get a low offer.

Yes, that's quite true. If house has been on the market that long; savvy home shoppers know the sellers are anxious to sell and will entertain almost any offer. Also, they know they house isn't going to sell soon, so they have time to wait it out.

Re: Real estate offer (update)

Elom — Thu, 19 Oct 2017 01:19:58 GMT

Well my offer went up $5000. After giving it much thought, it has been almost 4 yrs since my husbands passing and I need to move on with my life. I am going to make my decision tomorrow but it is a hard one. I do not want to spend another winter in this isolationism another year. I am putting restrictions on my acceptance it will be interesting if they object to those then I will know the true intentions.

Thank you for all the feedback wow this is not easy.

Re: Real estate offer

Financialgrl — Sat, 21 Oct 2017 15:11:10 GMT

@millieshops wrote:
@Elom I'd assume there's still hope, but there are many factors to consider, the biggest one probably being what you have to have to get out of where you are. If you (and your realtor) know that, you have a good starting point. I also assume you left some room for negotiations because few buyers automatically pay the asking price in most markets. Therefore, I'd follow the advice and make that aggressive counteroffer and see what happens.

I do hope that buyer's realtor can talk them into raising their offer. It does happen - unles they are just "fishing" in prices they really can't afford.

Good luck.

Agree. For 15 years I lived in an extremely well made rural custom home I'd bought as a resale bc of that.

Home prices were all over the map when I was selling and little was selling. My realtor knew I did not "have" to sell due to relocation, etc so we stayed just below the higher numbers for like acreage and sq footage and I had few showings. About 3 months in the market began showing much better defined price points- lowered it to that number and got 2 full price offers.

I lost $20K on that home (July 2016) bc I'd bought it during the real estate bubble in 2004 but I knew I had to decide how badly I wanted to sell and draw a line in the sand. It all worked out well for me bc I chose a model in a subdivision to build a new home and downsize into a home that is now the perfect size. Since I've begun that process in July 2016, the beginning price to build this same model has risen $35K higher than I paid - so in the end it was a win win all around.

Re: Real estate offer

SeaMaiden — Sat, 21 Oct 2017 18:47:03 GMT

@Elom Some buyers are just RUDE. They hope you are desperate to move... maybe the realtor told them that or made something up to that regard. Do not fall for it.

Too bad you are not here in Seattle where buyers are paying almost double the asking price for crummy looking homes because homes are so limited on the market and there is such a demand. There are many buyers that have bidding wars on one home. The sellers are in heaven.

Re: Real estate offer

Elom — Sat, 21 Oct 2017 18:38:12 GMT

Well they went up on the final offer and it was acceptable to me. Now just waiting on the inspection and formalities. Glad and happy this chapter and book is finally finished and over. Thank you all.

Re: Real estate offer

Financialgrl — Sun, 22 Oct 2017 12:39:31 GMT

@Limbo4now wrote:
Well they went up on the final offer and it was acceptable to me. Now just waiting on the inspection and formalities. Glad and happy this chapter and book is finally finished and over. Thank you all.

Feels great, doesn't it? I lived in the country and had other issues to sweat about - well/septic were separate inspections out in the middle of nowhere but they were fine - some of the found things were pretty stupid but I think all home inspectors have to find something.!!

Re: Real estate offer

qualitygal — Mon, 23 Oct 2017 11:52:05 GMT

Totally feel your pain. I have a relative who has been trying to sell her house too. I know what they were led to believe about the possibilities of how quickly the house would sell. It's a great house too. I feel for them. It's hanging over their heads and now doesn't seem to really be the right time to sell. The realtors don't really like to do open houses anymore, they want the serious buyers coming in with hopefully a bid to boot. It's agony.

Re: Real estate offer

CelticCrafter — Mon, 23 Oct 2017 12:32:09 GMT

@Financialgrl wrote:
@Limbo4now wrote:
Well they went up on the final offer and it was acceptable to me. Now just waiting on the inspection and formalities. Glad and happy this chapter and book is finally finished and over. Thank you all.
Feels great, doesn't it? I lived in the country and had other issues to sweat about - well/septic were separate inspections out in the middle of nowhere but they were fine - some of the found things were pretty stupid but I think all home inspectors have to find something.!!

I was told that the pipes for the washing machine were in behind the wall and they could possibly leak!

Um, I think the pipes for the toilet, tub and sinks are also in behind the walls and they could also leak but that doesn't mean I'm going to expose any of them.

Re: Real estate offer

Financialgrl — Mon, 23 Oct 2017 12:53:46 GMT

@CelticCrafter wrote:
@Financialgrl wrote:
@Limbo4now wrote:
Well they went up on the final offer and it was acceptable to me. Now just waiting on the inspection and formalities. Glad and happy this chapter and book is finally finished and over. Thank you all.
Feels great, doesn't it? I lived in the country and had other issues to sweat about - well/septic were separate inspections out in the middle of nowhere but they were fine - some of the found things were pretty stupid but I think all home inspectors have to find something.!!
I was told that the pipes for the washing machine were in behind the wall and they could possibly leak!
Um, I think the pipes for the toilet, tub and sinks are also in behind the walls and they could also leak but that doesn't mean I'm going to expose any of them.

Yep, and you have to know your area. Once I decided to put the house up for sale friends about an hour away kept bugging me to get on with it, stop talking about it and to list it. I tried to tell them that our rural area saw little movement in good times so there was no way I was putting the house up for sale in February. The realtor I used was a neighbor and very honest with me and said there's no way she'd advise someone to put their home up for sale just before winter where we live unless they had no choice (move for work, could no longer afford, etc).

She said ppl look at how many days your home has been for sale and when a long time passes, ppl either want you to give it away or don't bother. You see it all the time on the HGTV shows - they'll say "this home is overpriced and its been for sale awhile, so you should be able to get it cheaper".