My 100-year old house in an older, inner-ring suburb with good schools and generally high property values, has been on the market for three weeks now. Traffic has been steady, with agents' appointments averaging about four a week. However, buyers have said while they think the house has a lot of curb appeal, the interior needs too much work: the basement, for starters, is seeping water, and the bedrooms are small with little closet space. Last weekend, we got an offer from a developer: $30K below the asking price, and he wants to tear down the house in order to build a McMansion on the lot. I'm upset and insulted by the offer but am concerned that in a slow market we will not receive anything better. Also, the new property tax rates take effect in two months, and I can't afford them. Should I make a counteroffer or tell the developer to jump in a lake? If I counteroffer, what should I ask for? My realtor, by the way, is pressuring me to accept the offer and has offered no advice.
2007-07-10
15:23:28
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14 answers
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asked by
hi_sakura
4