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Is walking away from a house because a Seller didn't come down 2% more in price petty?
Posted on 8/24/24 at 4:23 pm
Posted on 8/24/24 at 4:23 pm
How firm are you when negotiating for big ticket items? To me, when I offered "Last & Final" - I cannot counter one more time as it makes me a liar.
Posted on 8/24/24 at 4:25 pm to UncleLester
It all depends on if you want to buy or sell bad enough.
Posted on 8/24/24 at 4:42 pm to UncleLester
Just don't say last and final.
Posted on 8/24/24 at 4:44 pm to UncleLester
Just curious. Are you the buyer or seller?
And no, last and final isn't always.
And no, last and final isn't always.
Posted on 8/24/24 at 4:45 pm to ItzMe1972
2% is not necessarily an immaterial sum of dollars.
Posted on 8/24/24 at 5:23 pm to ItzMe1972
quote:
Just curious. Are you the buyer or seller?
Potential Buyer. I like the potential house a lot but don't want to make buying a home emotional.
Three very fair comps in subdivision helped me come up with what I thought was a win/win number for both sides. I'm probably already 1% more than I should really be already.
Getting chirped by others close to me that I would be silly to walk over 2%.
Posted on 8/24/24 at 5:23 pm to UncleLester
I like to make deals, preferably big deals
Posted on 8/24/24 at 5:26 pm to UncleLester
quote:
Getting chirped by others close to me that I would be silly to walk over 2%.
frick them, it’s not their money. But, it’s probably not worth buying a place you don’t want when you could have a place you really like for an extra 2%. It’s all a sliding scale. Dream house and everything is exactly how and where you want it, I’d pay the extra. If it’s just meh, then nah.
Posted on 8/24/24 at 5:26 pm to UncleLester
Let’s say it’s $600k house.
2% is $12K.
If it’s a house/area you really like will you have regrets if you don’t buy it 5 years out.
If seller thinking interest decrease when it comes home prices may go up as more buyers might come into market so maybe holding isn’t terrible.
2% is $12K.
If it’s a house/area you really like will you have regrets if you don’t buy it 5 years out.
If seller thinking interest decrease when it comes home prices may go up as more buyers might come into market so maybe holding isn’t terrible.
Posted on 8/24/24 at 5:28 pm to UncleLester
Petty if you are screwing yourself by passing on a house that you really wanted just because you felt like you "lost" a battle.
But if the 2% is overextending yourself, then it is smart to walk away, not petty.
But if the 2% is overextending yourself, then it is smart to walk away, not petty.
Posted on 8/24/24 at 5:32 pm to nugget
quote:
But, it’s probably not worth buying a place you don’t want when you could have a place you really like for an extra 2%.
My initial budget would allow me to be comfortable spending an extra 25% more on a home. That is what I originally penciled and had my search criteria for.
This wouldn't be my forever home but it is definitely an upgrade. So, to give up some concessions from my wish list... I want to feel I got it at a price that was fair market value.
Posted on 8/24/24 at 5:32 pm to UncleLester
How common are houses that meet your “specs?” If you’re picky, then you need to be a little flexible. If there are houses that check your boxes being listed often, 2% is not immaterial.
Posted on 8/24/24 at 5:39 pm to turkish
quote:
How common are houses that meet your “specs?”
We always get a good bit of results on searches. We're not asking for anything unique like an indoor pool or a full size basketball court in the backyard.
I have offered on three different houses on past 40 days (this being the third). I would have been very content with any of the three for the right price.
My offers were declined on the first two and I didn't counter. One is on the market still (hasn't budged on price at all) and another sold last week but I won't see the final price until it closes to know how far off I was with my offer.
Posted on 8/24/24 at 5:41 pm to UncleLester
quote:
To me, when I offered "Last & Final" - I cannot counter one more time as it makes me a liar.
What if the home inspection reveals it needs a $12K AC unit. Are you sticking with your Last & Final offer? Are you a liar if you ask for $12K reduction in price?
Posted on 8/24/24 at 5:50 pm to weadjust
quote:
What if the home inspection reveals it needs a $12K AC unit. Are you sticking with your Last & Final offer? Are you a liar if you ask for $12K reduction in price?
I perceive my last & final as the most that I am willing to pay as the buyer.
Posted on 8/24/24 at 6:14 pm to UncleLester
$15,000 goes a long way towards renovations for the next house choice.
Posted on 8/24/24 at 7:23 pm to Roy Curado
quote:
2% is a big chunk.
He could also be paying another 2-3% for the buyers agent commission
Posted on 8/24/24 at 11:11 pm to weadjust
It’s just a gamble. If interest rates drop like they expect next month, sellers will likely get more for their houses. If I had been looking for a couple months and found a house I really loved, I probably wouldn’t miss it over 2%. I know this is the money board but not every decision has to be about money.
Posted on 8/24/24 at 11:58 pm to UncleLester
quote:
I want to feel I got it at a price that was fair market value.
This is where you are going wrong. Fair value is just a feeling, not a real thing. Everyone's fair value is different and changes weekly based off market dynamics.
If it is what you want, spend the extra 2% and get it. Time is money, and you are wasting it.
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