ok you need to know the situation first. there is a couple who just moved to a retierment home. they are 88 and 90. so they are rilly old. their daughter is handeling the situation w/ her agent though. so the daughter is living in tiwan and is in town right now. she is going back to tiwan on sunday i think. the house going for $1,350,000. we are offering a different amount.. a weird amount but still its an amount. we are offering $1,000,002. we do not know if she will take the offer or not. we are waiting for a call and the latest we would get the call is by tomorow @ 6:00 pm. we could have gottan a call today but we didnt so far. right now the time is 5:45 pm. our agent says that he thinks tht the daughter would probley want to just get this move over with before she goes to tiwan so tht she doesnt have to deal w/ it when she is there, in tiwan. my mom thinks tht we would have gottan a cal by now and she thinks maybe we wont get it. please help me. do you think we will get the house?
2007-08-24 15:52:46 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
now imagine u r the daughter. would u let us buy the house for $1,000,0002 instead of $1,350,000?
p.s i will also give a five star rating to whoever rilly helps me out n also yes i did already answer this question but i only got 2 answers. hoping for more. please help.
thx
2007-08-24 15:54:22 · update #1
I think you really would like this home. Yes 350,000 Price Difference is doeable or at least workable. Speically in a Market like this. Not knowing the house or the area, it is hard for me to judge if the 1 Mio or the 1,35 Mio is the true Market Value. The daughter's parents are in a retirement home as you said, so they might need the money to pay for it. The daughter probably would like to know that her parents are financially taken care about. I am sure that your Real Estate Agent pulled comparable properties to see what the price on the property should be and she advised you well.
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However people from different countries are doing business differently as well. Here in the States business is done faster and decisions are made quicker than in a lot of other countries.
As long as your Real Estate Agent does not let the daughter leave without having an answer, you should not give up hope. May be you can give a little more, like paying closing costs or go up with the price to meet her halfway.
Keep your fingers crossed and good luck..
2007-08-24 16:52:57 · answer #1 · answered by Monika Wilson 4 · 0⤊ 0⤋
Dude..
Give it a bit of time.... You say that the Daughter may be "motivated" to sell, but... you are offering $350,000 less than her asking price...
No one is motivated to the point of taking a $350,000 drop from their asking price.
If her realtor is competent in any way, they would have referenced the local "comps" (comparables) and came up with that asking price for the house... They just did not make it up, or pick it out of the sky. It came because that's what the house is worth....
By the way you phrased your question, I tend to think that you know this too.
If the comps were properly matched, and the selling realtor did a good job, then I doubt that your offer as it stands will be accepted... you will probably just get a "No Thanks" as a response, because your offer is just too low... There is no room to really meet you half way... the gap is just too large.
The reality is that the daughter has done all of her work, and is very well positioned.. the house is listed with a broker, and her parents are now in a home where they will be properly taken care of... All the daughter needs to do now, is let the realtor do his / her work, and wait for an offer which is closer to the asking price... One will come (please tell us how long has the house been listed???)
Considering the above paragraph, I tend to think that your realtor / representative is not giving you good information, and may not be reading the situation correctly with respect to the daughter's motivation.
Once an offer is accepted, all the daughter needs to do, is return to sign some documents (can be done by Fax really - I've done that), and empty the property (if not already done).
Good luck to you, but I don't think that the daughter will sell the property at the price you offered..
By the way... What is that $2.00 thing at the end of your offer. It's embarassing, and pointless.. this is not an auction... However you came up with that, give it up... it's just making you look like an amateur, and not serious. It just looks bad.
2007-08-24 16:09:35 · answer #2 · answered by minitrail70 5 · 1⤊ 0⤋
I think your offer is too low. If it were me, I would not take it. Generally I look at 10% below asking which would be $1,215,000. So I doubt she'll take it. She can list it with an agent and go to Taiwan, so she's in the driver's seat.
2007-08-24 16:01:03 · answer #3 · answered by magnolia 5 · 0⤊ 0⤋
Can you actually afford $1M home? Do you have financing lined up and a nice downpayment?
You definitely lowballed your offer. I'd guess they may come back with a counter offer. Or perhaps they have other offers closer to the asking price.
2007-08-24 16:30:50 · answer #4 · answered by bdancer222 7 · 0⤊ 1⤋
You'll know when the agent calls. There's no possible way to predict what the seller will do.
2007-08-24 17:56:45 · answer #5 · answered by Bostonian In MO 7 · 0⤊ 0⤋
People who can afford +1M homes write so poorly? WTF? And furthermore, ask for financial advice on yahoo? A new class of yuppie? Trust fund babies are hilarious.....
2007-08-24 16:36:33 · answer #6 · answered by Pol-Enrico G 1 · 1⤊ 2⤋