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My husband and I offered $210K (no contingencies) on a house listed at $236K. It is vacant and has been on the market for five months with little traffic (none in the last two months). The sellers have moved out of state for a job transfer. Evidently they were insulted by our offer and told their agent they will not negotiate with us. Are they unreasonable or did we go in too low? This is just outside of the Lexington Kentucky area.
hoise sitting for 5 months. Never went under contract? They are probably asking too much then in the first place. Have they had any price drops?
It's either can't sell for less or my house is worth x because I own it. As the seller would of wanted to keep you at table and countered with 229,000 no contingencies. Go back and forth a few times probably settle on 220-225k and closing costs etc
People are retarded today. Not even willing to negotiate.
My husband and I offered $210K (no contingencies) on a house listed at $236K. It is vacant and has been on the market for five months with little traffic (none in the last two months). The sellers have moved out of state for a job transfer. Evidently they were insulted by our offer and told their agent they will not negotiate with us. Are they unreasonable or did we go in too low? This is just outside of the Lexington Kentucky area.
Apparently they think so.
We can't really weigh in, though, without knowing what comparable houses have sold for in the past few months.
It's never been under contract. I don't think they've even had another offer. The original price was $250K. I do believe it's overpriced, but I'm not sure about comps. The only other house in the neighborhood to sell in the last year was $325K, but it was also significantly larger. Oh well... we'll keep looking. Hopefully the next seller we encounter is more sensible.
That doesn't seem low enough to be insulting. If you'd come in with an offer of like 150 it would warrant a 'they aren't serious, GTFO' reaction, but that's close enough to be worth trying to negotiate if they really wanted to sell. If they get worked up over something that trivial you're probably better off not trying to buy their house.
It's never been under contract. I don't think they've even had another offer. The original price was $250K. I do believe it's overpriced, but I'm not sure about comps. The only other house in the neighborhood to sell in the last year was $325K, but it was also significantly larger. Oh well... we'll keep looking. Hopefully the next seller we encounter is more sensible.
You made an offer without comps? I would fire your realtor and find one that knows what they are doing. It doesn't matter if there was or wasn't another offer on the property, comps are what counts. Find a better realtor so you don't lose out next time.
It's never been under contract. I don't think they've even had another offer. The original price was $250K. I do believe it's overpriced, but I'm not sure about comps. The only other house in the neighborhood to sell in the last year was $325K, but it was also significantly larger. Oh well... we'll keep looking. Hopefully the next seller we encounter is more sensible.
Sitting that long no buyers/contract and 14k price drop they are just in lala land. 14k drop usually means I wanna sell. Dumb to just ignore. The offer. They should at least counter. But hey let them stew a bit in their offended juices and if they come back Stick to your original offer
You made an offer without comps? I would fire your realtor and find one that knows what they are doing. It doesn't matter if there was or wasn't another offer on the property or if they were ever under contract, comps are what counts. Find a better realtor so you don't lose out next time.
I'm sorry to say, but you buy property based on what you can get it for...not what some other property sold for. It may work out to be the case sometimes, but that is not the way a self-interested buyer should be thinking about their largest investment in my opinion.
The comps are good for establishing a list price, establishing a value for a mortgage company to lend against (aka the appraisal)...but there is no way I would have comps raise my offer if I felt I could get it lower.
OP...obviously these comments are relative to how accurate your portrayal of the situation is. But it seems you just have idiot sellers in this case. We can't even give them the benefit of the doubt and say they are upside down or cannot afford to go lower...again, assuming they were insulted & refuse to negotiate any more despite them being on the market for 5 months. As a seller...I would never refuse to negotiate after the 1st offer. If I thought an offer was significantly lower than I would accept, I would verbally relay (thru my realtor to their realtor) what I am willing to counter at & let that verbal neogtiation continue as long as they are willing to engage in it. Then if we arrive at a verbal...let them put it in writing (again).
I feel sorry for their realtor (a little).
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