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I recently put a 92% offer (based on the list price) on a home that I believed was listed above its market value based on comps. The seller countered to 96% and removed the fridge from the deal. I countered back to my best and final offer of 94% and added back the fridge (and agreed to pay buyer's closing costs). Seller then countered again to 95% and removed the fridge, pushed back the closing date. I decided to walk away.
Do you think I'm being unreasonable? It seems silly to walk away over a $8,000 difference but I feel the house was already overpriced for the immediate subdivision with a higher price per square foot than recent sales. It does have other nice things about it like a landscaped yard and an enclosed, air conditioned patio which differentiates it from the others.
After walking away, I see that the seller has now reduced his asking price (to 95% of original) and is having an open house this weekend.
If he lowered his price ask your agent to make the same deal, he obviously can't get what he asked for and no one is knocking themselves out to buy the house besides you. I don't think $8K is silly unless it's a million dollar house and you have $8K to gift him.
If he lowered his price ask your agent to make the same deal, he obviously can't get what he asked for and no one is knocking themselves out to buy the house besides you. I don't think $8K is silly unless it's a million dollar house and you have $8K to gift him.
I should also mention I just made this final offer yesterday. He then reduced his sales price yesterday evening after I walked away.
Go make a offer again at 92%. Truthfully landscaping can be really expensive to do. While it doesn’t add “value” it costs a lot of money for something that has no value. My landscaping was 23,000
Quote:
Originally Posted by adriftinthebay
I should also mention I just made this final offer yesterday. He then reduced his sales price yesterday evening after I walked away.
That’s pretty dumb. He should of just kept negotiating. Now he’s gotta start over
I should also mention I just made this final offer yesterday. He then reduced his sales price yesterday evening after I walked away.
If the bridge has not been burned, come back politely. Tell the agent to tell them you really want the house but with your price. How long the house has been on market? It's been sometime, it won't likely to move fast anyways. Buyer can wait, seller somewhat cannot wait as they have to pay mortgage. They should come back based on my prediction.
I recently put a 92% offer (based on the list price) on a home that I believed was listed above its market value based on comps. The seller countered to 96% and removed the fridge from the deal. I countered back to my best and final offer of 94% and added back the fridge (and agreed to pay buyer's closing costs). Seller then countered again to 95% and removed the fridge, pushed back the closing date. I decided to walk away.
Do you think I'm being unreasonable? It seems silly to walk away over a $8,000 difference but I feel the house was already overpriced for the immediate subdivision with a higher price per square foot than recent sales. It does have other nice things about it like a landscaped yard and an enclosed, air conditioned patio which differentiates it from the others.
After walking away, I see that the seller has now reduced his asking price (to 95% of original) and is having an open house this weekend.
FUN FACT: Most deals are lost over around $5k because people get emotional about it.
the Seller made the last offer, which the OP rejected. that technically means the deal is dead in old-school legalese about offeror/offeree.
I don’t understand why a stand alone appliance was even brought in the negotiation. It should of been negotiated privately as a separate purchase not as part of the house
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