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Message
Real estate gurus - offer on my house
Posted on 6/20/20 at 7:00 pm
Posted on 6/20/20 at 7:00 pm
Been on market 6 months, I've dropped the price from $240k to $230k and buyers made offer of $220k with me paying $6k towards closing... What's a good counter?
I'm thinking $227k and $3.5k towards closing
I'm thinking $227k and $3.5k towards closing
3
Posted on 6/20/20 at 7:03 pm to cubsfan5150
All depends on how desperate you are to sell. I’d do $225, $3k.
Do you have an agent? What is their suggestion?
Do you have an agent? What is their suggestion?
This post was edited on 6/20/20 at 7:05 pm
Posted on 6/20/20 at 7:05 pm to TJG210
His suggestion was $226k and full closing
Posted on 6/20/20 at 7:10 pm to cubsfan5150
What is your situation? Into another mortgage already? Going to rent for 6-12 months?
Do what makes you comfortable if you are in a position to wait it out.
Do what makes you comfortable if you are in a position to wait it out.
Posted on 6/20/20 at 7:20 pm to cubsfan5150
Probably still contingent on inspection and appraisal.
I like your offer, they can always refuse or counter.
I like your offer, they can always refuse or counter.
Posted on 6/20/20 at 7:29 pm to cubsfan5150
quote:
His suggestion was $226k and full closing
I’m an agent and I’d honestly not give full closing, unless the buyer absolutely needs it (which he should know). If you give him full closing now, negotiating the inspection will
be much more tenuous.
Unless your house is pristine, I’m sure they’ll come back looking for $1-2k depending on issues that may come up.
This post was edited on 6/20/20 at 7:31 pm
Posted on 6/20/20 at 7:51 pm to TJG210
As an agent, what sounds like a good counter?
House is in a nice area, good schools.
Just saw your prior post
House is in a nice area, good schools.
Just saw your prior post
This post was edited on 6/20/20 at 7:54 pm
Posted on 6/20/20 at 8:09 pm to cubsfan5150
It’s hard to blindly tell you what to counter back. This is why you use a good agent. They should run you comparable sales in the last couple months and backup your counter to the other agent with numbers.
Posted on 6/21/20 at 8:11 pm to LSU1018
Bump for update
Posted on 6/22/20 at 12:31 pm to TJG210
I countered back with what was in my OP... they came back at $225K and $6K for closing... I couldn't lose the deal over a $3K or so, so I took it.
Paying two house payments sucks on a military salary.
With a little digging, they likely knew the crunch that I'm in. I'll still pocket 5 digits after the sale if all goes through and be debt free, so I'm good with it.
Paying two house payments sucks on a military salary.
With a little digging, they likely knew the crunch that I'm in. I'll still pocket 5 digits after the sale if all goes through and be debt free, so I'm good with it.
Posted on 6/22/20 at 2:03 pm to cubsfan5150
Good deal man, hope everything goes well with inspections and y’all can close fast.
Posted on 6/22/20 at 2:17 pm to TJG210
Thanks man
Posted on 6/22/20 at 6:10 pm to cubsfan5150
Posted on 6/22/20 at 6:22 pm to cubsfan5150
We'll likely be selling in the near future, which will be a first for us, so I'm trying to get some insight into the thinking that goes on as a seller. Can someone explain to me how that when dealing with transactions on the order of $200k-300k, going back and forth over a few thousand dollars matters very much?
Agree that it varies by person and situation, but is there typically a line in the sand where it doesn't matter very much in the grand scheme of things?
Agree that it varies by person and situation, but is there typically a line in the sand where it doesn't matter very much in the grand scheme of things?
Posted on 6/22/20 at 7:35 pm to meeple
Because it’s still a few thousand dollars in absolute value that is either gained or loss. It being 1-2% of the deal value doesn’t reduce the value of the $2,000.
This post was edited on 6/22/20 at 7:48 pm
Posted on 6/22/20 at 7:41 pm to lynxcat
also most people sell a house to buy a house. Every dollar not realized is a dollar encumbered by 15 to 30 years of mortgage interest. It’s a big deal
Posted on 6/22/20 at 7:49 pm to cgrand
quote:
also most people sell a house to buy a house. Every dollar not realized is a dollar encumbered by 15 to 30 years of mortgage interest. It’s a big deal
Yep, $2,000 PV may be worth $8K+ in FV over 30 years.
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