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Old 05-31-2019, 09:13 AM
 
257 posts, read 145,796 times
Reputation: 520

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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.
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Old 05-31-2019, 09:26 AM
 
12,018 posts, read 9,671,191 times
Reputation: 13420
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.
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Old 05-31-2019, 09:32 AM
 
257 posts, read 145,796 times
Reputation: 520
Quote:
Originally Posted by LifeIsGood01 View Post
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.
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Old 05-31-2019, 09:33 AM
 
Location: Riverside Ca
22,165 posts, read 25,382,084 times
Reputation: 35091
Must of been one hell of a fridge.

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 View Post
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
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Old 05-31-2019, 10:30 AM
 
Location: Raleigh NC
20,778 posts, read 10,952,775 times
Reputation: 12457
the Seller made the last offer, which the OP rejected. that technically means the deal is dead in old-school legalese about offeror/offeree.
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Old 05-31-2019, 11:32 AM
 
Location: NMB, SC
9,834 posts, read 2,809,611 times
Reputation: 13224
Sounds to me like both of you had your doubts..you for walking away and him for holding out.

When you make a "best and final" that means you walk if they don't accept it.
There should not have been any doubt.
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Old 05-31-2019, 11:39 AM
 
201 posts, read 116,388 times
Reputation: 361
Quote:
Originally Posted by adriftinthebay View Post
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.
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Old 05-31-2019, 11:45 AM
 
Location: planet earth
8,053 posts, read 3,473,690 times
Reputation: 17912
Petty, ego based negotiations, where no one wins. Brilliant.
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Old 05-31-2019, 12:29 PM
 
10,162 posts, read 5,711,276 times
Reputation: 15701
Quote:
Originally Posted by adriftinthebay View Post
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.
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Old 05-31-2019, 12:41 PM
 
Location: Riverside Ca
22,165 posts, read 25,382,084 times
Reputation: 35091
Quote:
Originally Posted by BoBromhal View Post
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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