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Post Info TOPIC: Phbbbbtttt! to house stuff **UPDATE**
Elle


Hermes

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Phbbbbtttt! to house stuff **UPDATE**
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This is going to be whiney, consider yourselves warned .


We put an offer on a house yesterday. 


The seller countered today, but did not budge even a teeny little bit.


So we countered again today, coming down right at the halfway point between the two.


Bleh!  This is all so emotionally confusing to me.  We wanted the house (which is why we made the offer, duh!), but I'm a little turned off after seeing their first counter.  It lights my defiant little fire, to tell you the truth.  Now I'm feeling rather indifferent to the whole thing, house included, and I'm not sure I even want it any more.  You don't want to sell your house?  FINE!  *flounce*


And also, negotiating with hard ass sellers turns me back into a 4 year old .


Commiseration, please!  How was the whole offer/counter offer schtick for everyone else?  Did anyone have to walk away from a house?



-- Edited by Elle at 13:33, 2006-09-29

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To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment ~ {Ralph Waldo Emerson}
e_doli


Dooney & Bourke

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RE: Phbbbbtttt! to house stuff
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When we put our first offer in on the house we live in now, the seller didn't budge at all.  didn't even counter -- just said no.  (we are 99% sure that their agent, who was a little off, never gave them the offer, but that's another story.)  maybe it's just a personality thing, b/c when this happened i had already decided that this was the house i wanted and i was going to get it.  after much drama (and circumventing the seller's agent), we ended up meeting about halfway. 


it was really a horrible process, and the waiting to hear a reply was excruciating.  i remember being so pissed that they wouldn't budge, and ranting about how ridiculous it was for them to think that the house was actually worth what they were asking.  hating the agent, hating the seller, but still wanting the house.  in retrospect, we probably paid a little too much considering how much the many unforseen problems that came up soon after closing cost us.


i think it's great that you are feeling like you could walk away from it -- that will keep you from spending more than you can afford or more than the house is worth.



-- Edited by e_doli at 21:00, 2006-09-28

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valenciana


Dooney & Bourke

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that is stupid (the sellers, not you!)...i just read this article TODAY all about how the national median home price is down significantly from where it has been in years.  of course, every market's different, but i totally get how you're feeling.  don't they want to sell their house??? or do they want to sit on it unsold forever?


i should really pick your brain about all this...just because i feel much better knowing that i'm not the only one feeling lost about the whole process...but i feel so unsure i don't know even know what questions to ask!  i'm interested to hear how it all goes though...so please keep us updated!



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Farrah


Marc Jacobs

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Being the devils advocate: We are currently trying to sell the BF's former condo.  It was sold but the buyer's financing was denied so we are going through the selling process, again (which is a complete pain).  You have to understand that 9 tmes out of 10 the seller REALLY wants that place sold, but sometimes the buyer tries to get one over on them based on the advice of their agent.


Example:   My bf has a one bedroom plus den wants to sell his place so badly that he priced it more than $20,000 less than other one bedroom condos without the den in his area are going for which means it is a really good deal.  We got an offer yesterday and they offered $20,000 less than his listing price and a bunch of ridiculous credits (the place is a little over 2 years old and NOTHING is wrong with it), they actually asked for a credit for painting and new carpet, which it needs neither.  He priced it to move for a reason and after the credits these people basically want the place for less than he paid for it which is really frustrating.  So the moral of the story is...not every seller is a jackass and not every buyer is an angel.  I blame the real estate agent's though.  They are the culprits of a lot of this drama.  They suggest asking for unnecessary credits and  they also tell clients that their homes for sale are worth more than they really are.  It is a pain and you will get through it.  Best of luck!!!



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ayo


Coach

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It depends on your market.


In our market things are so crazy that no one is going to even look twice at you if you make and offer below the actual market value of the house.


When we were selling our first house we put our foot down on the price. It was not negotiable and if the buyer did not want to pay the price that was listed they were free to go elsewhere. Of course we could be a little snotty like because we had no shortage of people interested in buying the house.


So that's just to give you an idea of how the sellers are thinking....


Take heart..if this isn't the one...I'm sure there will be another one out there...


 



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Elle


Hermes

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I know, I know - I'm going to be on the other side of this coin as soon as we do buy a house !


There are some things to be done to it.The reason we didn't turn and run is that the house is decent as is and can be lived in, and the repairs can mostly be done by us which will save us money in the long run.


Some things need to be done right away, and others can wait and be done over time, but still!  If the house was move-in ready that'd be a different story, but there are some things and the sellers know that too.


Our first offer was only $5k less than her asking!  Sheesh!  The tides are turning in our market more towards the buyers favor, and on top of that things slow down altogether in the winter.  It's pretty normal here to offer a few thousand less than asking, for repairs or closing costs or whathaveyou.  I think her agent's a bit of a dingaling, too.


We'll know by 1pm today - if she accepts cool.  If she counters again we're out.  If she declines, we'll consider bringing back an offer in a week or two if she still hasn't sold.


Tick, tock, tick, tock ......


 



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To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment ~ {Ralph Waldo Emerson}
Cortney1982


Chanel

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$5k below offering price is just ridiculous not to take it!  Sometimes I doubt whether the agent really gives the seller the offer and are just being greedy for every dime of their commission money. 


When we bought our house we live in now the buyers were so insulted by our first offer they wouldn't counter.  Which is unbelievable considering how long this house had been sitting on the market!  It makes you wonder if they really want to sell in the first place.  I know this lady didn't because it was a divorce and they didn't even bother to clean the place up which would turn away most buyers.



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killa


Dooney & Bourke

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Hey Elle,


I just went through this a couple of weeks ago. My initial offer on the house I bought was $27,000 less than the asking price, which sounds like I really low-balled the seller. HOWEVER, I ended up getting the house for $19,000 less than the asking price. Not bad.


You know, one thing that helped me in countering was finding out what the seller paid for the house when he bought it. That is public information. If the realtor doesn't tell you, you can get the price from the city assessor's office.


It was helpful in my case, especially, because the seller has only lived in the house for a year. I found out he was asking $35,000 more than what he paid for it in a year's time!! CRAZY. On top of that, he hadn't made any improvements in the year he lived there.


Also, did you look up the selling prices for other houses on the same street? That helps, too.


I really think that you should hold off on the house if the seller will not take $5,000 less. You are right ... it is a buyer's market and winter is coming. Make her nervous by sticking to your guns!


Good luck!



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Elle


Hermes

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RE: Phbbbbtttt! to house stuff **UPDATE**
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Um, so it looks like we're buying the house!  She basically accepted our counter offer price (but came back with a new term, so we have to work that out yet) even though we totally didn't expect her to.  Knock on wood, fingers crossed, at this point we're closing toward the end of October !


Thanks for all your thoughts - helps keep my mind of the stress!



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To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment ~ {Ralph Waldo Emerson}
jettie


Kate Spade

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Great news!  I hope it all works out for you.



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NCshopper


Hermes

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Wheeeeeeeeeeeeee!  That's so exciting!  Good for you guys--I'll keep my fingers crossed that things work out. 

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Sibeski


Dooney & Bourke

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Congrats!  Be sure to post pic's!  I love seeing other people's homes!

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