Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My buyers agent seems to have no clue, and neither do I.
I lowballed on a piece of property about a month ago, and the sellers didn't come near my price in their counteroffers. Now I am thinking about making a 2nd offer (i love the location). House has been on the market for about a month and they've gotten no other offers and little interest/showings (it's a near-teardown). Should I make the 2nd offer already? Should I wait?
Asking price: 205k
My last offer: 150k
Seller's last offer: 175k
I am thinking about offering 150k, firm, with 5k in closing costs. What do you think?
My buyers agent seems to have no clue, and neither do I.
I lowballed on a piece of property about a month ago, and the sellers didn't come near my price in their counteroffers. Now I am thinking about making a 2nd offer (i love the location). House has been on the market for about a month and they've gotten no other offers and little interest/showings (it's a near-teardown). Should I make the 2nd offer already? Should I wait?
Asking price: 205k
My last offer: 150k
Seller's last offer: 175k
I am thinking about offering 150k, firm, with 5k in closing costs. What do you think?
My buyers agent seems to have no clue, and neither do I.
I lowballed on a piece of property about a month ago, and the sellers didn't come near my price in their counteroffers. Now I am thinking about making a 2nd offer (i love the location). House has been on the market for about a month and they've gotten no other offers and little interest/showings (it's a near-teardown). Should I make the 2nd offer already? Should I wait?
Asking price: 205k
My last offer: 150k
Seller's last offer: 175k
I am thinking about offering 150k, firm, with 5k in closing costs. What do you think?
So you want to counter with a 2nd offer lower than your last counter? Is that right?
the comps are not clear-cut; this is the classic "last tear-down in the million dollar neighborhood". the last tear-down within a mile sold for 175k but it was a short sale (very common in my area) and had 1k more sq footage. most of the houses in this area are new-builds or heavily remodeled houses worth 600k and upi do not think this house is worth more than 150k; i will not pay more than 150k; it needs complete renovatingobviously i am not the only one who thinks this house is overpriced; they have not had any bites other than measking price is 205ka month ago i offered 135kthey countered with 195ki offered 150kthey countered with 175k final offeri walkednow i am wondering what do i offer, and when
and yes i lowballed right when it came on the market; stupid i know; but then again, it hasn't sold and my agent and the listing agent both say it's way overpriced; its another delusional seller, what can i say
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,303,611 times
Reputation: 6471
Quote:
Originally Posted by TexasHorseLady
And the listing agent says to your or your agent that it's overpriced? Whoa, way to perform their fiduciary responsibility, there!
I don't see any violation of the fiduciary obligation by the seller's agent. It's my job as a sellers agent to get the highest price for my principal. If that means I have to tell my principal that he's overpriced, then I'm doing exactly what my obligation is to him.
I could tell him to keep his home on the market at an unrealistic price, but he's not going to get it sold at that number. And if it doesn't sell, I haven't done my job nor provided the service he's offered to pay me for.
I don't see any violation of the fiduciary obligation by the seller's agent. It's my job as a sellers agent to get the highest price for my principal. If that means I have to tell my principal that he's overpriced, then I'm doing exactly what my obligation is to him.
I could tell him to keep his home on the market at an unrealistic price, but he's not going to get it sold at that number. And if it doesn't sell, I haven't done my job nor provided the service he's offered to pay me for.
Would you tell a prospective buyer (or the buyer's agent) that the house is overpriced in your opinion?
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,303,611 times
Reputation: 6471
I wouldn't directly make a comment like that, but I might agree with a buyer or their agent and ask them to make an offer based on what they felt the value was. Overpriced may mean it's overpriced by a dollar (I know it's splitting hairs) but If I'm representing the seller, I want to encourage offers on the property, the seller and I can put our heads together and come up with a counter if it's required.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
