I am a first time homebuyer, in the state of New Jersey. I have a Buyer's Agent, whom I believe is very attentive.
However, I recently made an offer on a house for $10,000 less than the asking price, with 5% back. The counteroffer was for $8,000 less, with 3% back, but a rescind offer of only $8,000.
My agent says that we are "playing chess," and should make another offer. I very much want the home, and would most likely take any reasonable offer if 3-5% were offered back.
The main problem is that today I located on a real estate website that house's asking price was lowered almost $5100, less than 2 days ago, and most likely after their counteroffer of $8000.
Should I be worried? What should I do???? I very much want the house.
PS: I phoned my agent today on his cellphone, but did not get an answer, so I left a message. I will also call him tomorrow.
2007-02-09 14:45:03 · 3 answers · asked by ToniSB 4 in Business & Finance ➔ Renting & Real Estate
The house has been on the market for 95 days.
2007-02-09 14:47:47 · update #1
The most important thing is to do what makes you comfortable!
If you want to bend a little more to ensure the purchase, then do it! Just make sure that you are doing it because you want to.
It is true that it is a game... I refer to it as a poker game. Both sides are vested as to their emotions and intentions. The job of your agent is to do what you want them to do, so if you tell them that you want to go a certain direction in negotiation, then they will do it.
Good luck. If you need further discussion, email me.
2007-02-09 14:58:24 · answer #1 · answered by Art 4 · 1⤊ 0⤋
are you buying a home or are you looking for a DEALl?
How long has the house been on the market? Is is priced correctly for the area? These are things your agent should be able to show you.
If the house is prices correctly, I would strongly urge you to consider a full price offer. If you need assistance getting into the home, then ask for your closing costs to be paid by the seller.
You may have insulted the seller at this point. Either walk away or make a reasonable offer.
2007-02-09 14:53:08 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you really want this house, why are you 'bickering' over a few thousand dollars? Negotiate for the best price the sellers will give you and buy the house.
If you truly feel a couple of thousand dollars is too much, then you should keep looking.
Best wishes and good luck.
2007-02-09 14:55:10 · answer #3 · answered by Doctor J 7 · 1⤊ 0⤋