this house has been on the market for145 days . we put in an offer at 145000 because most of the other homes in area sold for less the seller counterofferd back 153000 . can someone tell me what's going on
2007-06-27 11:59:24 · 11 answers · asked by carlos h 1 in Business & Finance ➔ Renting & Real Estate
This is a step called price negotiation. You and the seller go back and forth with the price until both of you either agree or walk away from it. As a buyer, you try to buy the house at the lowest price possible and as a seller, they try to sell it at the highest price possible.
2007-06-27 12:08:02 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Are you certain that the other homes in the area represent true comparables, or just that they are in the same area. Do not assume that all homes in an area are equal. If this one has a better location, more amenities, more updates, etc. it may NOT be as comparable as you think.
Perhaps the seller is already very competitively priced at $155,000 ? Make sure you have done the appropriate homework to insure that you are looking at correct comparables. If, indeed, these other houses are true comparables and have sold for less, then the seller is being a bit unrealistic.
Only you can make the decision, however. Eventually the seller will figure out that he's high priced, if he truly is.
2007-06-27 12:47:00 · answer #2 · answered by acermill 7 · 0⤊ 1⤋
If true comparable homes are selling for under $145k, then it looks like your seller is a bit unreasonable. I'd counter than right back with the original offer or maybe slightly higher, and stay firm. Submit the offer with comparable sold sheets from the MLS (ask your agent to print them up).
Even if they reject your counter, they might be calling you in a week when they're having 2nd thoughts and no additional offers!
2007-06-27 12:04:26 · answer #3 · answered by R.E. Advice 3 · 0⤊ 0⤋
That's negotiating for you If it has been on the market that long I would offer them even less! They are playing hard ball but the ball is not in their court!
2007-06-27 12:05:30 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The seller is trying to get as much out of the deal as possible. Counter with 147,500.
2007-06-27 12:02:10 · answer #5 · answered by Anonymous · 0⤊ 0⤋
The sellers are basically telling you that is the lowest amount they will take.It still does not hurt to put in another counter offer!Try for 150,000 next time.They may or may not except your offer.
2007-06-27 12:15:34 · answer #6 · answered by Gin 3 · 0⤊ 1⤋
This is a typical negotiation, I do not see the problem here. Come back at 147-148k. I bet they come back to 150k, and viola!, you have your selling price. Its negotiating, dont take it personal.
2007-06-27 12:45:14 · answer #7 · answered by frankie b 5 · 0⤊ 0⤋
Do thorough research on the other houses and their sale prices.
Stick to your price. They obviously think their house is worth more, but you decide for yourself.
2007-06-27 12:06:34 · answer #8 · answered by toodle666 2 · 0⤊ 0⤋
you offered 10,000 less than the asking price, that's pretty steep. come back with 150,000...that's probably as good as you're gonna do.
2007-06-27 12:03:17 · answer #9 · answered by CherBear 3 · 0⤊ 0⤋
They are just being greedy, they want to pocket some money.
2007-06-27 12:04:05 · answer #10 · answered by crzjaz13 1 · 0⤊ 1⤋