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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?
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.
If there was a written offer (sales contract) tendered, I can't imagine it didn't have a time limit placed on the acceptance or counteroffer. That's pretty much boilerplate anyplace I've ever lived.
How can you just take a verbal offer? That's crazy. If a buyer is serious they should provide a fully executed sales contract. Anything else is dreck and has absolutely no value.
Silence is typically an indicator that the buyer has moved on.
Rather than argue back and forth about details, get some comps from similar sales in your area and use them for benchmarking. Playing tit for tat on details will never land a buyer, they'll just get peeved and move on. Make your point and back it up with data and leave the discussion out of it. AS in:
"I appreciate your offer, however, I am countering at $xxxxxxx based on the value of comparable sales in the area such as (property A, B, C, etc.)"
If you are doing a FSBO, you should perhaps be willing to go cheaper than the competition, since you'll be paying less commission, all else being equal.
If you are doing a FSBO, you should perhaps be willing to go cheaper than the competition, since you'll be paying less commission, all else being equal.
Whether you lost the offer or not, hard to say.
this^ if the neighbors that had the same house with an extra half bath used a real estate agent- it means they got 266K ish not $280K. personally, I see it as a hassle dealing with a homeowner directly and would price that into my offer.
OP hasn't said where he lives. Where I live it's not an offer unless it's written (and presumably specifies all the other important things beyond price.) So I think OP didn't have an offer and didn't make a counteroffer. So no offer to lose. All just blowing smoke.
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.
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