Lowball Offer on House - Page 6

w_gibbs · #51 04-13-2007, 05:09 PM

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Why are you so hung up on a closing credit? Just offer the guy the flat price that you are willing to pay. As you know, you've been counter-offering for over a week. This guy has you right where he wants, as he knows you desperately want the house.

Just to remind you, 9 days ago you said you wanted to max out at $250k. This was before the discussion of the roof. Offer the guy $250k and tell him you are walking if he turns it down.

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My wife is fully aware that I said I wanted to max out at $250,000 and unless something dramatic happens she ain't letting us go above it. My $250,000 was assuming I might have to put a roof on myself, so I am not too worried about that, especially because the estimate came in at about half what I expected.

My only goal at this point is to try and get the offer to look as attractive as possible. I have already offered $250,000 when I asked for the roof. In my mind it seems like a weak offer to go back and just say $250,000 no roof, no closing. Call it fancy play syndrome if you like, but I just think increasing the dollar amount and writing in contingencies makes it look better.

Big TR · #52 04-13-2007, 05:38 PM

Your current net offer is $247,350. I see no way around offering a net of at least $250,000 at this point. $250,000 is exactly the middle between your original offer and his original list price. This guy is smart enough to do basic math, and he obviously does not want to have offers with roofs, closing costs, etc. He wants a hard dollar offer. An attractive offer to this buyer won't have any cute math tricks.

You wanted advice. Offer a flat $250k, tell him it is the middle ground between your original offer and his list price. Walk if he won't move to your number.

w_gibbs · #53 04-13-2007, 06:17 PM

Thanks for the advice BigTR. That sounds like a good idea.

kjander · #54 04-14-2007, 11:46 AM

no matter what you include with an offer it is reduced to the net offer. If you keep throwing around a closing credit for around 8K you will never reach an agreement. If you don't want to offer $250 play for 3 offers with your last counter being so close to his actual amount that he will feel like he is burdoning his realtor to make him right up a new offer.

w_gibbs · #55 04-14-2007, 07:13 PM

[ QUOTE ]
no matter what you include with an offer it is reduced to the net offer. If you keep throwing around a closing credit for around 8K you will never reach an agreement. If you don't want to offer $250 play for 3 offers with your last counter being so close to his actual amount that he will feel like he is burdoning his realtor to make him right up a new offer.

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I agree. I am not trying to dupe him into seeing the $257,500 and thinking it's a great deal despite the 3% credit. I just don't want to reduce the dollar figure. My dollar figure increased dramatically when I asked for a $10,000 roof. This was a way to not drop it back down.

UPDATE: I went ahead and countered at $257,500 and 3% closing credit.

kjander · #56 04-14-2007, 10:10 PM

ehh I don't particularily like that offer. I really think you are screwing yourself by asking the closing credit. I doubt he is going to come down 8K and accept you offer. I was under the impression that you aren't going above 250.

I would went 248. No matter what his counter is say 250 firm and final if you truley are ready to walk over 250.

w_gibbs · #57 04-14-2007, 10:44 PM

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ehh I don't particularily like that offer. I really think you are screwing yourself by asking the closing credit. I doubt he is going to come down 8K and accept you offer. I was under the impression that you aren't going above 250.

I would went 248. No matter what his counter is say 250 firm and final if you truley are ready to walk over 250.

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I was at $247,350 on the previous offer. I wanted to get near $250,000 now and I am hoping he will start negotiating the 3% down from this point. I have realized the guy is not a [censored] nor desperate. I can maybe convince my wife to raise our upper limit by $2000, so I will try to get him close to $255,000 and then make a final offer at $252,000 and leave it with him to decide.

kjander · #58 04-15-2007, 12:31 AM

Sounds like you got a good plan. Any chance your wife is going to support the 2K increase? Is she not nearly as in love with the house as you? I would make sure the seller is aware that our wife doesn't want the house. it might strike fear in him if he knows you will leave.

w_gibbs · #59 04-15-2007, 10:24 AM

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Sounds like you got a good plan. Any chance your wife is going to support the 2K increase? Is she not nearly as in love with the house as you? I would make sure the seller is aware that our wife doesn't want the house. it might strike fear in him if he knows you will leave.

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Not sure if she will budge. There was another house she liked more but the operating costs were attrocious on it and it was way overpriced and had little resale value. I like this house I am negotiating because:

1) Location
2) It's nice
3) Best resale potential
4) Best chance to get it below market value
5) Lowest relative operating costs

kjander · #60 04-15-2007, 12:26 PM

Glad to see you are researching all that info. In Minnesota where I liveI have heard of people getting steals on houses only to find themselves with a $700 Gas bill during the winter. I'm surprised with all the research you have done your wife won't budge. I hope you can convinbce her before the market heats up in the early summer.