Did I lose the offer? (appraiser, mortgage, mortgage, sale)
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There was a written offer, we were just negotiating the final price.
I think what gets me puzzled is the total silence. I would have expected her to come back and say no, $275 is final offer or something on those lines.
So ... they had signed a legal offer of $275,000 ... and you didn't send back anything official? Just a list of upgrades?
If there's no deadline on the contract, and they've just stopped communicating, then all you can do is guess. Right now, it sounds like they've lost interest.
You can always email the agent and ask.
It helps us advise if we know the exact circumstances you're talking about.
I got an offer for my house yesterday morning. House was listed at $289k, the offer came at $270k. Wrote back to the agent saying we expected something around the $285k. They come back saying they would offer $275, since a similar house,the same model as ours but with an extra half bath sold for $5k more. I wrote back listing all the improvements our house had over the other one ( hardwood, new windows, new HVAC/AC, new appliances, granite, etc) and that we are willing to meet them half way at $280k. All these email exchanges happened in a few hours range, and after my last email complete silence.
Does that mean I lost the offer? Or it's just a mind game to see who caves first?
Did this negotiation happen on a legal offer avenue? Or just email “off the record”
It could be as simple as the buyer is trying to figure out if they can swing or qualify for the additional 10k. It could be a large sum depending on their financial standing
So ... they had signed a legal offer of $275,000 ... and you didn't send back anything official? Just a list of upgrades?
If there's no deadline on the contract, and they've just stopped communicating, then all you can do is guess. Right now, it sounds like they've lost interest.
You can always email the agent and ask.
It helps us advise if we know the exact circumstances you're talking about.
It sounds like the OP never sent back the counteroffer, just some emails. The OP probably needs to send a counteroffer, unless the offer has already expired.
I am selling by owner, I don't have an agent. There was no time limit as we were just negotiating, there was no formal offer document.
This is in direct conflict with what you're now saying. You say, "There was no formal offer document" yet later in the thread you say they presented a purchase agreement. You need to get your story straight.
1.) When presented with a purchase agreement and you don't like the offer, you counter. In writing, with the purchase agreement. Starting an exchange of emails with the buyer's agent disputing their offer price has no bearing on the transaction. Don't like their price? Counteroffer. After presenting it, call the buyer's agent and explain over the phone.
2.) If the buyer has gone dark, you're done, move on. Learn from your experience and consider what they said when the next offer comes along. Maybe the were "bargain hunters" or "tire kickers", but if they saw things you didn't it's critical that you take that feedback into consideration, as it might be valid.
As someone who has been trained and worked as a professional negotiator, I will go dark purposely to see if the seller will respond. This tells me my offer is still in play and they're motivated to make a deal. If they aren't I won't hear from them and I'll move on.
This is in direct conflict with what you're now saying. You say, "There was no formal offer document" yet later in the thread you say they presented a purchase agreement. You need to get your story straight.
1.) When presented with a purchase agreement and you don't like the offer, you counter. In writing, with the purchase agreement. Starting an exchange of emails with the buyer's agent disputing their offer price has no bearing on the transaction. Don't like their price? Counteroffer. After presenting it, call the buyer's agent and explain over the phone.
2.) If the buyer has gone dark, you're done, move on. Learn from your experience and consider what they said when the next offer comes along. Maybe the were "bargain hunters" or "tire kickers", but if they saw things you didn't it's critical that you take that feedback into consideration, as it might be valid.
As someone who has been trained and worked as a professional negotiator, I will go dark purposely to see if the seller will respond. This tells me my offer is still in play and they're motivated to make a deal. If they aren't I won't hear from them and I'll move on.
RM
Exactly. I wait until the last day of my allotted time to respond. It’s all about putting pressure or hoping you can put pressure on the buyer or seller (depending in which you are). But I make counters or offers on on official submitted paperwork not email.
I got an offer for my house yesterday morning. House was listed at $289k, the offer came at $270k. Wrote back to the agent saying we expected something around the $285k. They come back saying they would offer $275, since a similar house,the same model as ours but with an extra half bath sold for $5k more. I wrote back listing all the improvements our house had over the other one ( hardwood, new windows, new HVAC/AC, new appliances, granite, etc) and that we are willing to meet them half way at $280k. All these email exchanges happened in a few hours range, and after my last email complete silence.
Does that mean I lost the offer? Or it's just a mind game to see who caves first?
If a similar house with a half-bath sold for $280 you might need to rethink your price, that 1/2 bath is worth about $3-5%, depending on the bedroom/bathroom ratio Your house’s appraisal will based on any homes similar to yours. Many home offers come with a caveat that the seller can back away if the appraisal is less than the selling price.
Look on the offer, it should have an acceptance deadline and I would bet that time has passed. You clearly have not accepted their offer yet, since you thought you were still negotiating. Negotiating means an offer was not accepted.
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