YIPEEE Got an offer today!!!

stretchadApril 1, 2009

And it's NOT an april fools joke.

The offer is for 93.1% of list or if you factor in the closing costs they want us to pay, the offer is really for 90.4% of the list price.

I countered with 99% of list plus closing costs, or 97% of the list price w/out closing. Agreed to everything else in the contract. Hoping we settle somewhere around 95-97% to minimize the amount I'll have to bring to closing (my counter offer means we bring ~20k! *GULP*)

The offer was bit low, but I am so thrilled just to have an offer on the table!!!

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cordovamom

Congrats !! Good for you for trying to work with the offer. Hopefully you'll find some middle ground you both can agree on. Good luck !!

    Bookmark   April 1, 2009 at 10:24PM
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lucy

In today's market. I would NOT be fooling around nitpicking a couple of percentage points. I might have countered re closing costs, but that's all. I think you are either very brave, very out of date with the market, or very (won't say this one at all :-).

    Bookmark   April 1, 2009 at 10:51PM
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chrisk327

I think thats a little off base Lucy.

for 1, we don't know how active the market is where she is and price compared to other houses. Maybe she was well priced for her area?

its not like she's arguing over a few thousand dollars, 20K is significant, at least to me.

What if the offer was 80% of list? should she just take that too without any back and forth?

    Bookmark   April 2, 2009 at 3:48PM
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lucy

No, not unless it was worth it to her for whatever reasons there were, but 80 is not 90, and it just strikes me that 90 is excellent today. Of course I don't know the history, and if I'm wrong, I'm wrong, but I've also seen some postings (not just in this forum) from people who seem somehow to be unaware about the current market, and it's awfully easy to get greedy when close to closing a deal, so I thought I'd just play devil's advocate and throw in a reminder.

    Bookmark   April 2, 2009 at 5:06PM
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stretchad

90 is not excellent in our area. Most homes sell between 95-100% of the list price. Our home was very well-priced to begin with. The least expensive on the street and among comparables.

Anywho - they countered back at 97% of list, so we accepted the offer! It's sold. Now we just have to get through the inspection, and ensure their financing comes through. Other than that, we would close on May 15th!

    Bookmark   April 2, 2009 at 9:00PM
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theroselvr

Good luck!
I was nervous last year to post about ours. I don't think I ever really made a post until it was over but I mentioned it in other posts.. I didn't want to jinx it; and a few days before closing it almost fell through.

It's going to be a long 5-6 weeks for you I will say that.
I hope you have no surprises like we did.

Not going to say congrats till you post to say the check has cleared. lol

    Bookmark   April 3, 2009 at 6:51PM
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janjan212

Congratulations! We recently sold after 8 months We only got the one offer so I know how exciting just having someone finally decide of all the choices out there, they are interested in your home. In a different time I might have been offended with the offer we received. We had already reduced the price by 11% and their offer came in another 11 percent below our reduced price. We didnt HAVE to sell and frankly financially we couldn't accept the original offer anyway so a counter offer to us was a no-brainer.

My agent had told us months before an offer was on the table that most people were just flat out accepting any reasonable offer they get since they are few and far between. We countered and recountered till we reached a point where they came up to our self imposed bottom line but they still got a good deal. It was 94% of the current asking price. We were happy to be done. Our agent also felt confident we could probably make up some of our "loss" selling on the uying end.

We are buying our new home at 90% of the CURRENT list price and 77% of the original list price. They were listed for 8 months as well.

    Bookmark   April 8, 2009 at 10:17PM
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