Dealing with an emotional seller
Hi everyone, my wife and I just submitted an offer on a house we love. The listing agent has told us and our agent that the seller is emotionally tied to the house and even has it listed too high- so both the seller and the listing agent agree it is listed for too much. We know the specific reasons but are not going to post them for privacy issues. Anyway our initial offer was obviously below asking price but after scrutinizing the CMA, overall condition of the house and items needing repair we do not feel it was unjustifiable.
I guess our question is how soon should we respond to her counter? She did come down a little bit but one of her reasons for not coming down too much (aside from the strong emotional situation she is going through) is that she did not want to deviate too much from her original list price- which was admittedly too high. The house has been on the market for almost 11 months now and she has only reduced price 1 time.
Should we come back now with another offer or wait a few days? A week? Feel free to contact me privately for more specific info.