Are we being played?
On Monday we looked at and made an offer on a townhouse. It was not yet on the market. We were told two weeks before that the seller had met with her agent, and the asking would be $392k, and that it was updated (built 1960). There are many townhouses of that age, style and similar location in the development, and none have sold in the past year for more than 375k -- that one had new kitchen, BAs, windows, etc. Inventory, however, is low, and we were willing to offer more than the comps would suggest, depending on the actual condition.
When we went to see it, we were told the asking was $410. The AC had broken the week before and would be replaced. The bathrooms were updated, it had a new roof, newer windows, etc., but the kitchen was original and it had some cosmetic problems in other areas.
We offered $395 on the understanding the AC would be replaced. On Wednesday we were told the AC would cost $20k to fix, and they were firm at $410k, and if we didn't take that it would be listed at $427k. 20k seemed high for AC, so we asked to see the estimate.
In the meantime my agent and I quickly got ballpark, generous estimates, both of which came in at 10k max. And it turned out there is were no estimates, just the seller was afraid it would cost that much.
I increased our offer to $400k to try to keep the deal alive (we have been looking for 5 months now, and though we don't need to move, we would like to).
In the late evening, I talked to my agent who said they countered with $400k, but would not replace or repair the AC.
This morning, I was composing our response which said $390k with AC as is, or $390k plus the cost of the new AC, based on at least 2 written estimates, mutually agreed on (I don't always take the lowest bid). While I'm tweaking the wording, I see that the agent has listed the property this morning for $430k (love Redfin!).
I went ahead with the counter-offer as described above. Waiting to hear back.
Am I right in feeling jerked around?