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I recently moved to Kansas Area. Housing Market is crazy here. I wanted to put an offer before my son's school start. I saw a house that was on the market for 2 days. I went for open house, and with my agent next day. When we went to see the house, seller agent played dirty trick of setting up 5 more showings at the same time and created a sense of urgency. I fell for it. Appliances were not included in price asking price. So I paid $3000 above asking price for appliances while putting offer in a hurry. Now I am regretting it. Washer dryer are in okay condition. So is the refrigerator.
I just got inspection done today. There are not many things in inspection. Is there any way I can renegotiate on the appliances with the inspection results?
How do I fix my initial mistake and negotiate with the seller? I think seller is also in a hurry coz they cut down closing period. Please please help. House is nice, my regrets are for my bad offer.
I recently moved to Kansas Area. Housing Market is crazy here. I wanted to put an offer before my son's school start. I saw a house that was on the market for 2 days. I went for open house, and with my agent next day. When we went to see the house, seller agent played dirty trick of setting up 5 more showings at the same time and created a sense of urgency. I fell for it. Appliances were not included in price asking price. So I paid $3000 above asking price for appliances while putting offer in a hurry. Now I am regretting it. Washer dryer are in okay condition. So is the refrigerator.
I just got inspection done today. There are not many things in inspection. Is there any way I can renegotiate on the appliances with the inspection results?
How do I fix my initial mistake and negotiate with the seller? I think seller is also in a hurry coz they cut down closing period. Please please help. House is nice, my regrets are for my bad offer.
Written contracts are in writing for a reason. I'm sure the seller is wondering right now if they could have gotten more for their property if they had five showings at once.
I'm in the KC metro. The market is crazy right now. The best properties (updated and priced well) often do have overlapping appointments because inventory is so low. And they often seem to sell for over asking with multiple offers. At least I saw many properties where I ran into multiple other buyers. It wasn't the seller being tricky it was just an outcome of the market.
The question I would ask is do you think you'll find another house in this market that you like as much for the price you paid for this house in the time frame you want? If the answer is no then I wouldn't rock the boat by trying to renegotiate after inspection, especially if your inspection didn't really price up much. Because in this market a seller can walk and find another buyer very easily.
OP, ask yourself the all important question. Do you really want the house?
A. Yes
B. No
If you really want the house but feel that you're just paying a little too much, swallow your pride, the extra few thousand dollars you're paying out, and buy the home anyway. Don't sweat the small stuff. And it is small. $5K or even a bit more is nothing when it comes to buying a home.
There are not many things in inspection. Is there any way I can renegotiate on the appliances with the inspection results?
Inspections are not intended as a means of reopening negotiations over price and not intended as a way to get sellers to fix minor issues. Given what you said in bold and that you said it's a seller's market I wouldn't ask for anything. For all you know another buyer is waiting to swoop in and make an offer if you mess around with the inspection response. I don't know the contract in KS, but it's possible the seller can say "No" and end the contract.
I recently moved to Kansas Area. Housing Market is crazy here. I wanted to put an offer before my son's school start. I saw a house that was on the market for 2 days. I went for open house, and with my agent next day. When we went to see the house, seller agent played dirty trick of setting up 5 more showings at the same time and created a sense of urgency. I fell for it. Appliances were not included in price asking price. So I paid $3000 above asking price for appliances while putting offer in a hurry. Now I am regretting it. Washer dryer are in okay condition. So is the refrigerator.
I just got inspection done today. There are not many things in inspection. Is there any way I can renegotiate on the appliances with the inspection results?
How do I fix my initial mistake and negotiate with the seller? I think seller is also in a hurry coz they cut down closing period. Please please help. House is nice, my regrets are for my bad offer.
Listen to your agent. That is why you have one. I would hope you selected an agent for guidance in this situation.
What does your appraisal say? Does it support your price?
You could either try to renegotiate anyway (and risk losing your deposit) or try the low appraisal/financing route to get their price down a bit.
Unless the inspection says there are no defects(or the contract has exclusion for the inspection contigency), you can just use the inspection contingency, no matter how minor the findings were.
Suck it up, Buttercup. If you think you made a bad deal, and you are still within your due diligence, then get your EM back and walk away.
If you like the house, and are just having a typical case of buyer's remorse/panic, then calm down and proceed to closing.
Why should they renegotiate? Sounds as if they had plenty of activity on their showings. If you don't want it, someone else will.
The seller is entitled to use whatever legal and ethical methods are needed in order to sell their home, up to and including creating a sense of urgency. You run into that EVERYWHERE - "One Day Only Sale!" "Quantities Are Limited!" etc., etc. And it worked. It's true that sometimes showings are scheduled so that showing appointments overlap. You could have walked if you felt uncomfortable. You could have said, "OK, I'm feeling pressured, here, let's step back a minute."
At 3.875%, for 30 years, that $3,000 extra is costing you a grand total of $14 a month.
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