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Old 10-24-2007, 06:50 AM
 
204 posts, read 810,544 times
Reputation: 119

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We listed our house for sale Labor Day weekend at $525,000. After a little over 2 weeks on the market, our agent strongly advised us to drop the price to $499,900 because he felt the most popular search range in our area was between $450 and $500 and that most people would miss our house if it were over $500,000. We reluctantly agreed.

Yesterday we received our first offer. This couple came to see the house FOUR times before writing an offer. We were very excited as my husband is already living in another state with his new job.

Here's the unbelievable part. The offer was for $435,000 plus $12,000 in settlement help, and they wanted EVERYTHING that we had listed as exclusions (and a few more!). They also wanted us to pay for the home inspection.

Am I wrong or is just about the most rediculous offer ever. I can't believe their agent would even let them put in an offer like that. Did I mention that he brought them here FOUR times!!!

As an added point, we live in a very popular neighborhood and have one of the largest houses on a prime lot. If the market were better, this house would most likely have sold in less than a month.

I am just so sad...
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Old 10-24-2007, 06:59 AM
 
Location: South Charlotte
1,435 posts, read 5,503,409 times
Reputation: 486
I would decline that offer.
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Old 10-24-2007, 07:01 AM
 
582 posts, read 1,939,677 times
Reputation: 98
That doesn't seem like a realistic offer, and I don't think they would have expected you to accept it. They went WAY low, so you need to bring them back to reality with a counter. Don't reject it immediately because they could be up to bargaining and go up to a reasonable level. If not, at least you would have tried.
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Old 10-24-2007, 07:01 AM
 
1,408 posts, read 7,766,040 times
Reputation: 670
Granted it's a low offer (just based on your asking price) but it is an offer. There are folks on here that have been on the market much longer than you and can't get even one offer. Before you tell the buyer to go jump in a lake why not just counter back. you never know what might happen.
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Old 10-24-2007, 07:05 AM
 
264 posts, read 1,048,042 times
Reputation: 183
Sorry to say, but as a seller myself, you've got to expect these types of offers in this market. Before rejecting the offer outright, I'd seriously consider your bottom line and try to negotiate with these buyers. This could in fact be the last offer you get for a VERY long time. Trust me, been there done that and wish I could go back and try again. LOL

My advice, realize your bottom line - the lowest amount you're willing to walk away with. Consider their offer as a starting point and go from there. If the items that you originally excluded can be easily replaced and you can spare a little closing help, counter-offer at a higher price and see if you all can meet in the middle. In this market, every offer is worth consideration, even if it feels like a slap in the face.

You must decide if you want to be able to move on with your life and lose a few dollars, or do you want to keep stressing over trying to sell a higher end home in a horrible market. Choose wisely!

Good luck with whatever you decide.

Last edited by talk2u; 10-24-2007 at 07:23 AM..
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Old 10-24-2007, 07:09 AM
 
2 posts, read 5,899 times
Reputation: 10
sister, dont give up on the situation. find out secretly why he sent them over so many times and why the couple wanted so much from you and your family. this is you and your family's life at stake.
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Old 10-24-2007, 07:13 AM
 
2 posts, read 5,899 times
Reputation: 10
Thumbs down the situation of nelly622

dont let these people push you and your family around. see what theya re really here about. maybe they want something else from you. why do you think he sent the couple over your house so many times?
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Old 10-24-2007, 07:16 AM
 
1,108 posts, read 3,899,697 times
Reputation: 876
Why worry? In this market, initial offers are often going to be very low. They obviously like the house- you should counter. You may eventually get to a reasonable selling price.
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Old 10-24-2007, 07:19 AM
 
3,842 posts, read 10,042,761 times
Reputation: 3201
With the way the market is these days, no one is going to come in & make an offer a couple of thousands off the asking price. Some buyers are going for the throat, hoping the seller is desperate enough to sell that they will accept.

That being said, that offer & requests is way off the charts. They definitely went for everything with that offer. Agent can only recommend but has to put on the table what the buyer wants.

We just bought a home & asked about 10% off asking price with a few other things added in. Meet in the middle. We are happy with our final price. We are moving to an area that has not seen such a dramatic increase in prices nor has an excessive inventory.

The offer that you received is excessive but I would seriously go over it with your agent & counter. The buyers are expecting a counter.

YOu have to figure out just how much you need to sell your home & what financial hits you can take in order to do so. The question is when might another offer come in?
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Old 10-24-2007, 07:26 AM
 
Location: N.E. Fl.
301 posts, read 1,482,258 times
Reputation: 167
It seams everyone has covered it already.But take time, make a counter offer.And see what happens.I found out for myself I needed to grow some thick skin real fast and not wear my heart on my sleeve.Its real easy to get affended when dealing with your castle.Hang in there.
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