Would you or wouldn't you?
Here's our situation:
We are moving from Mount Vernon, WA to the Finger Lakes area of New York state. Move is somewhat firmly slated for the end of January.
We also don't have any family here (and just one friend that we really trust) to watch over the house for us should we get into a situation where the house hasn't sold by the time we have to move.
We are listed for $239,900, which has been confirmed to be a reasonable price by agents other than ours. Our house was listed the Tuesday of Thanksgiving week. We had a showing the Friday after that resulted in an offer (and another showing the next day, but the couple didn't want to deal with our steep driveway, so no further interest).
Anyway, the offer came in at $228,000. A little low, but workable. We countered back at $234,900, which was about the lowest we thought we could go at the time and not bring any money to the closing table (we owe about $215,000; price was much higher when we bought in 2006). The potential buyer let the offer expire.
We found out today that we will be getting $5K from husband's new company to cover any costs associated with selling the house (covers stuff like brokerage fees, etc), plus almost $6K in "miscellaneous moving expenses" that we don't have to turn in any recepits for, etc. We just get it, no questions. Now that we know we'll have this almost $11K, we realize we can sell the house for less and not really be out any cash. Sure, we'll still have to bring cash to the closing table, but we'll get it back in a couple of months, and we have quite a bit of cash in the bank.
So, I talked to our agent just now, because we have heard that the potential buyer still really really likes our house, she just can't quite get to that $234,900 mark. Her agent told ours she's probably be really excited to see us make a reverse offer at a lower price.
Would you offer back at $230,000?
We think we'd be crazy to not just get it sold and know it's sold and not have to worry about making payments on a house we're not living in. Also, the $5K drop we're considering really isn't all that many mortgage payments.
I guess I'm just looking to see if you'd hold out for another offer (from a different person). We haven't had any other showings, and our agent said that most of what is selling is under $200,000, and is bank-owned.
Oh, and our house is pretty much an entry-level house, (3 br, 2 bath, 1350 sq ft, single level, built in 2003) in our area. It's not a ritzy house, by any means.