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Old 02-05-2019, 10:16 AM
 
Location: NJ
9,860 posts, read 20,727,598 times
Reputation: 7350

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Quote:
Originally Posted by GotHereQuickAsICould View Post
None of the items seemed a deal breaker to me and several seemed part of buying a "used" house as opposed to new construction.

Having won the bidding war, they are now trying to negotiate down the price.
That's what I think too. They want to see just how low the OP will go. The house sounds great with all the upgrades they did since moving in, the repairs asked for was just nickle and diming the OP.
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Old 02-05-2019, 10:36 AM
 
35,874 posts, read 13,731,926 times
Reputation: 22645
Quote:
Originally Posted by Roselvr View Post
That's what I think too. They want to see just how low the OP will go. The house sounds great with all the upgrades they did since moving in, the repairs asked for was just nickle and diming the OP.
That's what it looked like to me.

When a relative sold his home, he had cameras in several places and listened while the buyers discussed the results of the inspection with the realtor.

For those who are worried about whether this was legal, it is. There is no expectation of privacy in someone else's home.

He listened while the realtor and the prospective buyer talked of how they could get the price lower by going after all sorts of small items such as dried caulking. Nothing was a deal breaker for the buyer or his wife, they just were trying to get the price down.

When they presented their laundry list some of the items were truly insignificant. Nephew said fine, it sounded like this was not the house for them.

They backpedaled. Stuck with their original offer. Life moved on.
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Old 02-05-2019, 01:02 PM
 
Location: Loudon, TN
5,296 posts, read 4,497,251 times
Reputation: 17706
You've countered their list of repair requests. Ball is in their court. I hope you gave them a time window to accept your counter offer on the repairs, such as 72 hours. If you don't hear from them be that time, have your realtor tell their realtor that time is up and you are moving on to the next offer (provided that the offer is more than $438k - $5k) unless they sign TODAY.

On a $438k hose, $5k is pretty much not a big deal, but sometimes it's the principle of the thing. The question is "How much is the principle worth to you?" and how soon do you want this all to be over?
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Old 02-05-2019, 01:34 PM
 
35,874 posts, read 13,731,926 times
Reputation: 22645
Not principle, seems to be price.

OP said the price was already a good one and this is before the spring buying season.

Naturally, sellers want to move on, but how much do you want to pay for that?

How did it turn out?
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Old 02-06-2019, 07:43 PM
 
Location: stepfordwife-ville
24 posts, read 18,476 times
Reputation: 36
How did it turn out?[/quote]


Amazingly enough we are still awaiting a response. My gut tells me they are negotiating another deal with the other house they were contemplating. That home needed major updating to the time of 50-60k. They are not realtor represented so they can basically do what they want. Our attorney responded today advising that they “were just checking with their insurance carrier to quote rates (which is standard) and then they would respond. It typically takes a few days.” Something is just off for me. Maybe I’m completely wrong but considering it’s not their first time at the rodeo...I have mentally prepared my husband to get ready to update the listing info and get ready to start showing again, possibly with an open house this weekend.
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Old 02-06-2019, 08:01 PM
 
Location: Port St. Lucie, Fla
4,053 posts, read 6,584,145 times
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a day or two for an insurance response? Nope-- they can do it on the phone with the address.

I would go ahead with your open house etc. You can always cancel it if you reach an agreement.

btw.. where is that "back up" offer you spoke of? and how did you know the other home they are "looking at"
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Old 02-06-2019, 08:35 PM
 
Location: stepfordwife-ville
24 posts, read 18,476 times
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Quote:
Originally Posted by FlaLadyB View Post
a day or two for an insurance response? Nope-- they can do it on the phone with the address.

I would go ahead with your open house etc. You can always cancel it if you reach an agreement.

btw.. where is that "back up" offer you spoke of? and how did you know the other home they are "looking at"

Back up offers financing is being verified-not that that means anything. So as far as I’m concerned we’re open to another open house/showings.

As for knowing about the other home-it was information they volunteered along with the fact that they have been looking for 3-4 months now (but they have lived in this city for 30 years so well aware of the market/inventory, pricing, etc).
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Old 02-07-2019, 09:47 PM
 
17,234 posts, read 18,668,559 times
Reputation: 25024
Quote:
Originally Posted by Beatam007 View Post
We don’t need to sell it. We were strongly entertaining keeping it and renting it out considering we know how meticulously we have kept it up and all that has been updated (with the exception of windows) are all the big ticket items.
Simple.
At that point my answer would be no to any concessions. Move to the next buyer if you still wanna sell.

If you really want to make it a rental pull the sale and rent it.

Word of advice.
You won’t be happy with any renter. Renters can be rough in houses. Unless you’re absolutely sure that you can emotionally divorce yourself from the house from a homeowner to a landlord you’re gonna have a rough tine
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Old 02-08-2019, 07:45 AM
 
Location: Brentwood, Tennessee
40,866 posts, read 39,569,504 times
Reputation: 77669
Quote:
Originally Posted by Beatam007 View Post
Amazingly enough we are still awaiting a response. My gut tells me they are negotiating another deal with the other house they were contemplating. That home needed major updating to the time of 50-60k. They are not realtor represented so they can basically do what they want. Our attorney responded today advising that they “were just checking with their insurance carrier to quote rates (which is standard) and then they would respond. It typically takes a few days.” Something is just off for me. Maybe I’m completely wrong but considering it’s not their first time at the rodeo...I have mentally prepared my husband to get ready to update the listing info and get ready to start showing again, possibly with an open house this weekend.
Unacceptable.

Next time put a deadline on your counter.
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Old 02-08-2019, 09:37 AM
 
Location: stepfordwife-ville
24 posts, read 18,476 times
Reputation: 36
Quote:
Originally Posted by BirdieBelle View Post
Unacceptable.

Next time put a deadline on your counter.
You’re spot on about that! You live and you learn-that’s for sure. I had wanted to put a deadline of 72 hours however our attorney advised us against that. Either way they would need to respond by today by virtue of the contract.

That being said-they actually responded yesterday and accepted the counter for $1500 and our attorney also confirmed that earnest monies were deposited so it’s looks like we’ll be closing in a few short weeks.

Oddly enough the ‘other’ listing has changed to a short sale status.

Thank you again to everyone who chimed in!
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