The landlord is selling my house to me and has offerd to do several updates prior to the sale. I feel strange making a counter offer to his asking price. Is this a normal procedure when buying a home?
2006-07-31 03:59:13 · 7 answers · asked by jaswinelover1 2 in Home & Garden ➔ Other - Home & Garden
Anything of value is negotiable. However, in the buying game, if you plan on negotiating, be prepared to walk away from the table with nothing. Translation: You are in your rights to ask for lower price, but be prepared for a "no" answer, and possibly a withdrawn offer.
It's RARE that someone actually gets asking price for real estate in today's market.
2006-07-31 04:05:22 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If he is willing to do some of the repairs for you and the asking price is good, then I wouldn't counter offer. There isn't a "law" that says that you have to do that. Now if the price is too high for the area or there are other things that you want, or need, to have done, then yes, counter offer with what you want. I wouldn't go at it alone though. Go find a real estate lawyer to look over the contract for you. It might cost you about $500 for them to do that, but well worth the money if it saves you more in the end.
2006-07-31 04:09:07 · answer #2 · answered by brittme 5 · 0⤊ 0⤋
I work in a real estate office and the answer is yes. Don't feel guilty or weird making a counter offer. Go after what you need in the price.
Many people, especially in this market, are making offers and counter-offers daily. If you have more questions you should call a local real estate agent, or maybe even a real estate lawyer.
2006-07-31 04:04:08 · answer #3 · answered by megsi 2 · 0⤊ 0⤋
It is perfectly normal to counter, however you could make a lower offer and have the land lord not do any renovations and do them yourself. Good luck looking for a home and don't get upset if this deal falls through. After all they say the first house you purchase is seldom the the only one you end up in for the rest of your life.
Good luck
Moskie257
2006-07-31 05:21:16 · answer #4 · answered by moskie257 2 · 0⤊ 0⤋
Counter offer is normal, but if the deal is great, you might want to lock him in with a written agreement ASAP.
2006-07-31 04:03:15 · answer #5 · answered by prosopopoeia 3 · 0⤊ 0⤋
With a house listed on the MLS, as a Realtor we do gets a commission a value for advertising a house to ourselves. the seller has already made an furnish to pay the three% no remember who the customer is. And this is totally genuine that her corporation demands that if that corporation writes the furnish, that they might desire to take a three% value. although, you at the instant are not required to pay something you haven't any longer supplied. As a FSBO you at the instant are not required to cooperate with Realtors. in case you're offering to cooperate, it is not substantial if she is paying for for herself or no longer. in case you at the instant are not offering a value to a customer's agent, then be at liberty to hold on your decision. If her corporation INSISTS she be paid the three% value, then she needs to end finding at FSBO residences. Regards, Steve
2016-10-01 07:23:17 · answer #6 · answered by Erika 3 · 0⤊ 0⤋
yes this is a common practice, and be ready to make several counter offers.
2006-07-31 04:03:05 · answer #7 · answered by rottfan420 2 · 0⤊ 0⤋