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Old Yesterday, 10:25 AM
 
727 posts, read 346,803 times
Reputation: 1102

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Neither of the inspection issues are huge deal-breaker type problems. A 275 gallon above ground oil tank is only around $600, plus maybe that much again for labor. An exterminator is only a few hundred. So you're probably talking about $1500-$2000 total.

If it was me, I'd offer $2000 over asking price and drop the closing cost request, with a contingency that they fix those 2 issues.
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Old Yesterday, 10:55 AM
 
Location: North Idaho
18,657 posts, read 21,651,820 times
Reputation: 32092
Do you want the house or not? Right now, you've got it. If you want to play games with the price, you might get it for less, but most likely you will lose it.
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Old Yesterday, 12:14 PM
 
Location: Cary, NC
28,558 posts, read 50,782,345 times
Reputation: 26732
Quote:
Originally Posted by emm74 View Post
It's not like "asking price" is some objective measurement of a house's value. What is it worth to you? If it's not worth net 392K then walk away. Don't get hung up on whatever number happened to be on a listing. Not saying it's the case here, but in some cases, people deliberately lowball to trigger a bidding war - it doesn't mean the house is only worth that lowball number.
Exactly!!

Listing a house for sale on an MLS is not setting a price.
It is a solicitation for an offer.

When people get hung up on ignoring value, and not going over list price out of superstition regarding value and pricing, I always ask, "So, if the property was listed at $8.00 and it will appraise for $350,000, you wouldn't go over list price?"
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Old Yesterday, 12:32 PM
 
6,010 posts, read 6,344,887 times
Reputation: 10083
Quote:
Originally Posted by MikeJaquish View Post
"So, if the property was listed at $8.00 and it will appraise for $350,000, you wouldn't go over list price?"
For kicks, I'd make a full price offer!
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Old Yesterday, 12:33 PM
 
Location: Denver CO
13,926 posts, read 7,183,402 times
Reputation: 19626
Quote:
Originally Posted by jackmichigan View Post
For kicks, I'd make a full price offer!
lol! I'm gonna bid $8.50 to try to beat you!
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Old Yesterday, 02:07 PM
 
Location: Cary, NC
28,558 posts, read 50,782,345 times
Reputation: 26732
Quote:
Originally Posted by jackmichigan View Post
For kicks, I'd make a full price offer!
Quote:
Originally Posted by emm74 View Post
lol! I'm gonna bid $8.50 to try to beat you!
I bet you both want closing costs paid, too...

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Old Yesterday, 06:01 PM
 
Location: Mendocino, CA
511 posts, read 235,346 times
Reputation: 322
OP, I am like you, I have emotional attachment to properties if there is truly a reason for the emotion. That's part of the fun of owning properties.

If you truly like a house, and just from your simple description I feel you do, then you want to at least give a gesture of working with the seller.

The question is whether you want the RISK of not getting the house. If you don't want such risk, then pay.
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Old Yesterday, 06:10 PM
 
6,010 posts, read 6,344,887 times
Reputation: 10083
Quote:
Originally Posted by MikeJaquish View Post
I bet you both want closing costs paid, too...

Nah...I'd be happy to split them.
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Old Yesterday, 06:16 PM
 
Location: Florida -
7,483 posts, read 8,742,383 times
Reputation: 12269
Ask for a copy of the inspection report and tell your realtor to advise that you are concerned about the mice and oil heater issues -- and wondering what THEIR best and final offer is for you to move ahead with the sale.

That will put the ball in their court, yet still leave you in a negotiating position based on their response.

This sounds like one of those 'whoever blinks first, loses' deals. You may be able to save several thousand, particularly since the sellers have already found a house they want to buy.
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Old Yesterday, 08:03 PM
 
Location: MID ATLANTIC
7,165 posts, read 16,199,782 times
Reputation: 7158
Quote:
Originally Posted by jghorton View Post
Ask for a copy of the inspection report and tell your realtor to advise that you are concerned about the mice and oil heater issues -- and wondering what THEIR best and final offer is for you to move ahead with the sale.

That will put the ball in their court, yet still leave you in a negotiating position based on their response.

This sounds like one of those 'whoever blinks first, loses' deals. You may be able to save several thousand, particularly since the sellers have already found a house they want to buy.
Buyers don't usually hand over the report to the seller (at least here). They may give a cut and paste of that commentary for anything in question. If they did give the seller a copy, great, but I know I would not give the seller the complete report that I (as a buyer) paid for- now, if he wanted to buy it.......that may be petty, but a question: was there a seller disclosure? If so, we're these items listed? Both are rather hard to "forget,"
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