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After a couple counter offers, the Relocation Company has returned to their original offer of $259,900 with 3.5% closing assistance and said this is their final offer.
You say the Relo company has "returned" to their original offer - are you implying that they had given you a better offer at one stage of the negotiation?
If you guys really want THIS house THAT'S what it's going to cost you
Not necessarily... I went through something similar when we were looking for a house & found the perfect one in Monroe. It was an A frame on an acre with a hot tub in the livingroom. We made an offer, they countered & we said no. We kept looking & found our present home. Two months later the owners of the first house contacted our realtor & said that they'd accept our offer, but of course we'd already committed to the other property. It depends how long this company wants an albatross property around their neck.
Not necessarily... I went through something similar when we were looking for a house & found the perfect one in Monroe. It was an A frame on an acre with a hot tub in the livingroom. We made an offer, they countered & we said no. We kept looking & found our present home. Two months later the owners of the first house contacted our realtor & said that they'd accept our offer, but of course we'd already committed to the other property. It depends how long this company wants an albatross property around their neck.
Okay, I'm confused, was this lovely gem (WITH A HOT TUB IN THE LIVING ROOM, ROTFL) owned by individuals or a relo company? My post and the others are in regards to how relo companies play ball Which is to say, they have usually already taken a loss, they have deeper pockets than individual homeowners and will therefore wait out the market, and they have a bottom line they will not usually ever go below.
my only advice is that you should come up with what you want to pay, and offer it to them - you can't control their response, but if they don't take it this time, tell them you are walking away (they will probably come right back and accept). it sounds like you only want the house if it's a great deal, so you are probably able to walk away, especially in this market.
In my opinion you should keep looking. It is a buyer's market, so by continuing to look you will either find something better and cheaper.... or you will realize that the other house is a great deal. Meanwhile, make sure that your offer is officially off the table. The relo company will use your offer to try to entice others to make a competing offer... except that there are no other buyers!
To the OP, Are you frustrated because you know this is a buyers market and you feel that you should be getting something off the asking price? If it was an individual seller, I'd say you have the right to be frustrated and should move on. But, as others have said, its a Relo company, so they work a bit differently. We offered on 3 houses before we finally found one where the sellers were willing to negotiate more than $2,000.
As someone else said, I'd take a look at the comps. If the $259k is in line with the comps or below, I'd swallow my pride, take the house and be happy that I got the house I wanted at a competitive price. If not, move on. BEst of luck.
It all really depends on how much you want the house. If I myself really wanted the house I might step back and say "rates are still at an all time low and this is a good deal so maybe I am being too greedy". I know it is a buyers market and the economy is bad...but there are still other buyers out there. You have to ask yourself at what point is something a good deal and at what point am I asking too much of the seller?
I wouldn't wring my hands over whether or not the seller is properly motivated. I would increase my offer or simply move on based on my research and level of want...
Sounds to me like the seller might be a little keener than you give credit for...
It was owned by a church. The preacher who had lived there had been caught bedding his parishoners & was booted. At least that's what we were told.
OHMYGOSH, still trying to wrap my brain around the image of that hot tub in the middle of the living room, lol!!!
But thanks for clarifying - so it wasn't a relo company - relo's are a different animal to deal with
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