What should be my next counter offer?

Question

I have been watching a home for 8 months now that i really like. It was initially listed at $339,000 and was reduced to $329,000. It has been empty since May and the reason for the sale is a divorce. It was purchased two years ago for $339,000. My first offer of $290,000 was countered with $325,000. I have 3 days to respond with my counter offer. I was thinking $301,000. Does this seem reasonable? I live in a rental property that I paid off so I really have it made but love the house. In fact so much that we would have been willing to pay $329,000.

Answer 1

The question is this: Is this a house you want to live in or one you want to invest in?

If it is a home you want to live in, consider the length of time you might be staying and determine for yourself (not letting the realtor determine for you) if the extra money will be worth it.

If it is an investment, determine up front what your MAO (maximum allowable offer is). Then play the game and if at the end of the day, their price is above yours, walk away.

Answer 2

Starflower's answer is probably the best answer. You want to go for something reasonable, yet still in the ballpark.

With the amount of time the house has been on the market, I would say that the seller's would be motivated to make a decent deal with you. However, I can't say for sure because I am not apart of the negotiations.

Answer 3

every time you're making an open ended grant without final date what they're going to do is save your grant around and bypass away you there putting like a dried fruit. for this reason that's severe so which you would be able to incorporate a 40 8 hour or seventy two hour optimal final date on your grant. especially if your coming in as a money client. I assure you there are probable 200+ foreclosure entering the marketplace each and each month on your state. circulate to the subsequent one. bear in ideas, "Time is money" and don't commerce it for any opposite direction around. the different ingredient to evaluate is to make a fix checklist of each and every thing it quite is faulty with the valuables with value estimates to justify them merchandising the homestead for a chit. bear in ideas the banker regularly doing the place of work work on those REO's isn't the call maker and he might desire to get previous his supervisor or supervisor for approval of value help. by using alongside with a catalogue of deficiencies and fix values on your grant, it is going to justify your asking value. determine you supply it on your agent and confirm you tell them that it would desire to be provided along with your grant. additionally put in the added situations on your grant; See linked Addendum along with your fix checklist. which would be $a million.00. only joking !!! attempt this on your next grant and you will see the version. superb of success

Answer 4

$325,000 minus $290,000 equals $35,000. Divide $35,000 by 1/2 equals $17,5000. Add $17,500 to $290,000 equals $307,500. $307,500 should be your next offer. When you get the house, let us all on Answers know and we will come over and help you celebrate.

Answer 5

offer $310,000...then no more offers...if they don't take that one.
Houses right now are a dime a dozen and all the prices have been comming down. If they haven't made major improvements to the property, then the $310,000 is a good one.

Answer 6

based simply that it has been on the market for 8 months..and so it is a buyers market..

you have the cash..and ..they want out..

the number they need to break even......is ap. $317-319...
so you can go further if you want........

to keep your offer binding..you must respond with your counter in the 3 days......
good luck

Answer 7

BULLCRAP, that's the pathetic realtor game, pumping the price for more commission, dude, you're committing the cardinal sin, don't fall in love with any house. My offer would be $293k take it or leave it. They'll call you, if not move on it isn't meant to be.