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1. Just because this other house sold for "26% below original list" doesn't make it a good comp. You said
the lot is bigger, but did not mention the house s.f., so reading between the lines, I am guessing the
newly sold house is significantly smaller than your dream house.
2. The seller's agent appears to be a very good negotiator, which is good and bad for you:
a. It's bad for this particular house (the dream house), as she is the adversary.
b. She did a very good job for her buyer, so if you ever give up on your current dream house,
she could be a good buyer's agent for you to get a good price on another high-end house, IF
you think you and she would work well with each other.
Not so much on the negotiating side. It was marked down a bunch of times. I do not recall the sf. I have to look it up. I believe it's about 20% smaller. It is not posted on the listing.
Just wondering. Heard of a similar situation on a house there recently and figured there is no way it could be one and the same.
Similar how? Another "overpriced" house in an upscale Chicago suburb? A story of someone low-balling an offer and they got rejected? A recent sale that was over 20% discount off list?
I don't know how you got the idea that the OP is interested in Naperville or Aurora.
Are you looking for something there for yourself?
Nope I'd never buy another house in IL with the way the govt is run. A very similar house as described, owners and all in the suburbs was what I was hearing about. I'm sure their are hundreds or thousands of similar homes at any given time that meet the criteria but probably not as many locally. OP is not buying a house now anyways as stated since her husband is not on board with the offer price or moving.
There's not an intelligent and professional Realtor alive that gets offended by an offer UNLESS it is accompanied by "we love the house, but this low amount is all we can afford."
1. Why would that offend a realtor?
2. Aren't you still obligated to present the offer—whether you like it or not—to your seller?
Looks like people around here are trying to get a jump on listing their houses. It usually starts just after the Superbowl but two houses are up on the private network this week in my neighborhood. The prices in my neighborhood are tanking even more. My friend's house has been under contract and fallen out 5 times so far and they keep dropping the price. Two houses closed in December and they weren't good prices.
Just saw a new listing on a same sized lot as 'mine' in another nice neighborhood that is 1400 sf bigger than mine and listed for the same price. It was listed for more last summer and appears to not have sold. My seller is having an open house Sunday. My realtor says she is going but I am not. No point.
Looks like people around here are trying to get a jump on listing their houses. It usually starts just after the Superbowl but two houses are up on the private network this week in my neighborhood. The prices in my neighborhood are tanking even more. My friend's house has been under contract and fallen out 5 times so far and they keep dropping the price. Two houses closed in December and they weren't good prices.
Just saw a new listing on a same sized lot as 'mine' in another nice neighborhood that is 1400 sf bigger than mine and listed for the same price. It was listed for more last summer and appears to not have sold. My seller is having an open house Sunday. My realtor says she is going but I am not. No point.
I walked away from the overpriced home we looked at 3 times. The good news is that we have our closing scheduled for a different home next Friday (the 1st). They were also over priced, but not as grossly so as the first house we looked at and they met us at the halfway point between what they were asking and what we were wanting to pay. Inspection done, DD ends tomorrow at 5 PM and we are excited to move into this new home. It ticks all of our wants except the basement, and I'm not positive I really want another basement anyways.
2. Aren't you still obligated to present the offer—whether you like it or not—to your seller?
sorry I didn't see this a month ago, but since the topic has been revived...
Of course, I present every single written offer. And I've encouraged any Buyer's agent to provide an offer should their Buyer want to make one.
I'm talking about the $700K house list price/market value that hits the market and the Buyer's agent lets their client who can't pay more than $600K for a house fall in love and make a $600K offer.
It still gets presented, of course.
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