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#1
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Evaluate my real estate negotiation in real time!
So we got an offer on our house today. We're asking $349,000, the offer came in at $333,500, BUT they need us to pay $8,500 in closing costs, which effectively makes the offer $325,000.
I would like to get at least $335,000 net, which means countering with at least $343,000. Other considerations: - They are asking for our stove, fridge, washer and dryer, and expressed an interest in our patio furniture. - Our porch needs between $1,000 and $2,000 in repairs. I decided to counter with $345,000 + closing costs of $8500 + all the appliances they're asking for and the patio furniture. An effective offer of $336,500. Seem like a reasonable counter? |
#2
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Re: Evaluate my real estate negotiation in real time!
Where do you live?
Chances are your home is going down in value on a daily basis and time is money..........don't play games over a few dollars. |
#3
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Re: Evaluate my real estate negotiation in real time!
[ QUOTE ]
Where do you live? Chances are your home is going down in value on a daily basis and time is money..........don't play games over a few dollars. [/ QUOTE ] Our home is not going down in value on a daily basis. If we can't get the price we want, we will probably end up renting it out for the year while we're gone instead of selling. |
#4
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Re: Evaluate my real estate negotiation in real time!
Update: They countered with $340,000 and our realtor agreed to kick back $1,000 of the commission. So, $332,500 net.
We accepted. Ship it holla |
#5
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Re: Evaluate my real estate negotiation in real time!
Where is your house located that it is not going down in value?
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#6
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Re: Evaluate my real estate negotiation in real time!
[ QUOTE ]
Where is your house located that it is not going down in value? [/ QUOTE ] Are you suggesting right now that every home in every location is decreasing in value every moment? |
#7
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Re: Evaluate my real estate negotiation in real time!
[ QUOTE ]
our realtor agreed to kick back $1,000 of the commission. [/ QUOTE ] This could be illegal. I'm not entirely certain off the top of my head. But pretty sure. |
#8
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Re: Evaluate my real estate negotiation in real time!
Kickback of a real estate brokers commission to the selling party is NOT illegal at all. Many companies advertise that in fact even as an incentive. Its just him giving you a discount on his fee. Only thing that would be illegal is if you didn't claim it on your taxes. It would be illegal if the broker took/gave kickbacks on items like title insurance and the like.
SteveOMS |
#9
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Re: Evaluate my real estate negotiation in real time!
Its most likely is not a kickback, just a reduction in the commission. Nothing close to illegal about that.
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