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I did write here seeking opinions/ advice. Thank you to those who provided that without sounding
" all judgy". Thanks for the virtual hugs , too. We will reassess our situation between ourselves and then with our realtor and see what the next steps will be.
I don't have an opinion, as I'm not an expert. Just wanted to give the OP a hug, because without meaning to I think we're sounding a bit judgmental and this has to be a very stressful time. Yes, it sounds like it may be overpriced, but what do I know? At any rate, at least you gave it a shot. Better to shoot too high and then lower it than to shoot too low and find out after the fact that you could have gotten more.
I cannot imagine what it would be like to live that way for months - although then again, I don't know that I could find the motivation to keep it that way if the showings were not fast and furious like I had (generally 2-4 per day).
I had 2-3 per day..
-- went active on Friday March 3rd
-- 3 showings Saturday
-- 1 showing AND an open house Sunday
-- 2 showings Monday
-- 2 showings and an agents' caravan on Tuesday
-- an OFFER on Wednesday!….counter Thursday (as a second offer came in), counter to the counter agreed to verbally late Friday night, officially under contract Saturday morning
-- we close on March 31st
Thank G-d I didn't have to get up and leave the house every day, but only for a few days….oh how inconvenient that was.
I hope this gives some encouragement and hope to people that the process can be quick…..in the right market and with the house priced correctly.
We will reassess our situation between ourselves and then with our realtor and see what the next steps will be.
If you aren't quite sure whether to lower the price, or whether your current price is correct....here is another option....
Hire a licensed appraiser to appraise the propery. Tell the appraiser ahead of time that you are selling the home and you want to know the market price so you can price the home correctly. I did this when I was selling and then I realized that I needed to price drop if I wanted to sell. I dropped the price and sold. I made sure to be on-site when the appraiser came by and I was able to pick his brain a little bit about the local real estate market. Hiring an appraiser should be under $400 plus or minus. You can check a few of them and check prices before you choose which appraiser to use.
Be sure to tell them you are the seller and the reason for the appraisal is to determine market price. Because when they do appraisals for mortgages/when a home is under contract, they are more focused on appraising that the home is at least worth the agreed upon contract price (or not). When I hired my appraiser they had a checkbox for 'reason for the appraisal'.
Even if you hire an appraiser, you don't have to lower the price unless you choose. But it's just another piece of information that could be helpful to you. And it's good to have a 3rd party professional give their assessment, especially since they have no skin in the game.
So, the house has been on the market for $450K for about 8 months. We finally got an offer (after the buyer visited 3x) for $440,000. We really want to keep it at at least $450K so we can have a 20% down payment on the next house. They are preapproved AND have over 75K cash (we learned by accident).
But they won't come up or at least meet us halfway between the two amounts. While we are considering the offer, I would like some opinions from others as to what you would do. Maybe someone out there will help sway us. ty
Take the $440k. They know the house has been on the market 8 months. I'm surprised they offered that much.
If you don't need to sell and are just speculating, speculate away. But if you need to sell the house, sell it!
So, the house has been on the market for $450K for about 8 months. We finally got an offer (after the buyer visited 3x) for $440,000. We really want to keep it at at least $450K so we can have a 20% down payment on the next house. They are preapproved AND have over 75K cash (we learned by accident).
But they won't come up or at least meet us halfway between the two amounts. While we are considering the offer, I would like some opinions from others as to what you would do. Maybe someone out there will help sway us. ty
Wow! You started this thread three weeks ago, is the offer still on the table? IMHO- you're talking about $10K over $100K's, I know $10K is a lot of money but, in the scheme of things......... Only you and your family know what's best in your current situation. Good luck.
Wow! You started this thread three weeks ago, is the offer still on the table? IMHO- you're talking about $10K over $100K's, I know $10K is a lot of money but, in the scheme of things......... Only you and your family know what's best in your current situation. Good luck.
Our farm is currently for sale (and within the price range for our area in upstate NY).
We had 2 ppl LOOK at the place in 10 months.
We want to retire because this place is getting hard for us to maintain with 103 acres and a house at 2600sf.
We lowered our price 3 times in that 10 months. Sometimes I feel we will be here forever.
Sadly, not many people are looking to buy a farm today. I'm also in Upstate NY and most farms here are sold off in pieces...acreage lots and the house is sold separately usually.
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