Buying and Selling Homes - Offer/CounterOffer.... Offer? - Page 4

SLAG · 07-07-2006, 08:34 PM

I am In the process of buying my first home.

we think we have found a home, we have put in an offer on the home and the seller has come back with a counter offer... the initial offer we gave was 8k below what she was asking.... she then counter offered for 4k less then asking price..

We want to give another offer of 6k below asking price, and hope she goes for that or 5k below.... either way..

does this sound feasible, how many times should this go back and forth...

any help and info is greatly appreciated....

**Iowanian** · 07-08-2006, 09:51 AM

If you want to know what the right price range is, don't look too heavily on the Assessed value.

What you want to look at, is Comparable sales.

Find houses in the same city, neighborhood and or school district, built within 10 years of this one, similar in square footage, same bedrooms and baths, and "arms lenth transactions".

That should put you on the money, if you can find 2-3 of them within the past year to 6 months.

I'd imagine you could find a website of that county that would have the comparable searches available on their assessor websites.

Mr. Laz · 07-08-2006, 10:03 AM

i wouldn't think another counter offer would hurt

make another offer .... let them think week

if they don't take it then just change your mind and accept their offer.

Mr. Laz · 07-08-2006, 10:43 AM

in fact, i would think by the fact that she "split the difference" would indicate her willingness to negotiate.

the only downside is if someone else comes along and makes a big offer.

so time is a bit of an issue...

to save time, tell your agent to immediately counter offer any offer by splitting the difference. It indicates a non-aggressive, pure negotiating spirit.

"no hard feelings ... just meet me in the middle"

as soon as she stops giving counter offers ...... take it.

tis all good.

SLAG · 07-08-2006, 01:39 PM

Quote:

Originally Posted by Laz

in fact, i would think by the fact that she "split the difference" would indicate her willingness to negotiate.

the only downside is if someone else comes along and makes a big offer.

so time is a bit of an issue...

to save time, tell your agent to immediately counter offer any offer by splitting the difference. It indicates a non-aggressive, pure negotiating spirit.

"no hard feelings ... just meet me in the middle"

as soon as she stops giving counter offers ...... take it.

tis all good.

That weighed hard with me... I thought very hard about doing exactly that... but I did not want to waste any more time...

We have been looking for a long time now and our lease is up Aug.31 so we needed to find a place QUICK.... The house just really fit our family perfect. Good location close to work, close to family, still in the KC area..

I Just accepted her counter offer now... our agent is taking the paper work to the sellers agent now. I'm pretty happy with the decision.

Thanks everyone again for their insight

SLAG · 07-09-2006, 02:47 AM

Here is a Picture of the home

Thanks again

memyselfI · 07-09-2006, 07:05 AM

Quote:

Originally Posted by SLAG02

Here is a Picture of the home

Thanks again

Looks like a wonderful first home. Good luck and Congrats.

**Rain Man** · 07-09-2006, 08:25 AM

That tree has a perfect branch for a tire swing.

And house prices in your area make me envious. The same house in my area would cost well more than double. Oh well, at least you're subsidizing my tax deductions.

Hog Rider · 07-09-2006, 09:14 AM

Quote:

Originally Posted by SLAG02

We want to give another offer of 6k below asking price, and hope she goes for that or 5k below.... either way..

does this sound feasible, how many times should this go back and forth...

any help and info is greatly appreciated....

If you have a good agent, your questions would already have been answered and fully explained. That is her/his job after all.

JP

Mr. Laz · 07-09-2006, 09:29 AM

Quote:

Originally Posted by SLAG02

Here is a Picture of the home

Thanks again

congrats ... i hope it all works out for ya.

StcChief · 07-09-2006, 09:48 AM

Slag looks nice. Hope all inspections etc check out.

**Iowanian** · 07-09-2006, 10:41 AM

He'll sign the papers monday, and get called into the office for hacking at work tuesday.

greg63 · 07-16-2006, 05:20 PM

Hey SLAG, did ya ever finalize the buy?

SLAG · 07-16-2006, 06:07 PM

Quote:

Originally Posted by greg63

Hey SLAG, did ya ever finalize the buy?

Not yet... We are finnishing up the comparing and contrasting the mortgage's should have a decision made by tomorrow on what lender...

the Inspection came back good we are going to take a few things to the seller ask her to fix it or give cash allowance. its a process

teedubya · 07-16-2006, 06:15 PM

We just got approved for $180K loan and FHA loan, due to low debt to income ratio. So we get Prime rate. But Doubt we go over $160... found some killer homes in Lee's Summit.

SLAG · 07-16-2006, 06:22 PM

Quote:

Originally Posted by Ari Chi3fs

We just got approved for $180K loan and FHA loan, due to low debt to income ratio. So we get Prime rate. But Doubt we go over $160... found some killer homes in Lee's Summit.

Nice...

We are getting prime rates... i was surprised because im so young.. but i guess my credit is just barely sufficent...

we did get approved for $150 but are trying to get this house for $139

07-07-2006, 08:34 PM
SLAG Superbowl MVP Join Date: Oct 2005 Location: OOOOOOOOOOOOOLATHE Casino cash: $9910252	Buying and Selling Homes - Offer/CounterOffer.... Offer? I am In the process of buying my first home. we think we have found a home, we have put in an offer on the home and the seller has come back with a counter offer... the initial offer we gave was 8k below what she was asking.... she then counter offered for 4k less then asking price.. We want to give another offer of 6k below asking price, and hope she goes for that or 5k below.... either way.. does this sound feasible, how many times should this go back and forth... any help and info is greatly appreciated....
Posts: 11,177

07-08-2006, 09:51 AM	#46
Iowanian Supporter Join Date: Aug 2000 Location: Utopia Casino cash: $1698454	If you want to know what the right price range is, don't look too heavily on the Assessed value. What you want to look at, is Comparable sales. Find houses in the same city, neighborhood and or school district, built within 10 years of this one, similar in square footage, same bedrooms and baths, and "arms lenth transactions". That should put you on the money, if you can find 2-3 of them within the past year to 6 months. I'd imagine you could find a website of that county that would have the comparable searches available on their assessor websites.
Posts: 62,942

07-08-2006, 10:03 AM	#47
Mr. Laz Don't Tease Me Join Date: Dec 2000 Location: KS Casino cash: $11047037	i wouldn't think another counter offer would hurt make another offer .... let them think week if they don't take it then just change your mind and accept their offer. __________________
Posts: 95,626

07-08-2006, 10:43 AM	#48
Mr. Laz Don't Tease Me Join Date: Dec 2000 Location: KS Casino cash: $11047037	in fact, i would think by the fact that she "split the difference" would indicate her willingness to negotiate. the only downside is if someone else comes along and makes a big offer. so time is a bit of an issue... to save time, tell your agent to immediately counter offer any offer by splitting the difference. It indicates a non-aggressive, pure negotiating spirit. "no hard feelings ... just meet me in the middle" as soon as she stops giving counter offers ...... take it. tis all good. __________________
Posts: 95,626

07-09-2006, 02:47 AM	#50
SLAG Superbowl MVP Join Date: Oct 2005 Location: OOOOOOOOOOOOOLATHE Casino cash: $9910252	Here is a Picture of the home Thanks again __________________ Ad astra per aspera
Posts: 11,177

07-09-2006, 08:25 AM	#52
Rain Man Seize life. Be an ermine. Join Date: Jul 2001 Location: My house Casino cash: $-632449 VARSITY	That tree has a perfect branch for a tire swing. And house prices in your area make me envious. The same house in my area would cost well more than double. Oh well, at least you're subsidizing my tax deductions. __________________ Active fan of the greatest team in NFL history.
Posts: 145,431

07-09-2006, 09:48 AM	#55
StcChief Playing for #1 Draft Pick Join Date: Oct 2003 Location: Just West of Lambs land Casino cash: $10004900	Slag looks nice. Hope all inspections etc check out. __________________ sig test for this screwy schema
Posts: 25,901

07-09-2006, 10:41 AM	#56
Iowanian Supporter Join Date: Aug 2000 Location: Utopia Casino cash: $1698454	He'll sign the papers monday, and get called into the office for hacking at work tuesday.
Posts: 62,942

07-16-2006, 05:20 PM	#57
greg63 Homer go crazy!!! Join Date: Nov 2003 Location: SE Kansas Casino cash: $6453990	Hey SLAG, did ya ever finalize the buy? __________________
Posts: 19,337

07-16-2006, 06:15 PM	#59
teedubya Most Valuable Poster Join Date: Oct 2003 Casino cash: $8993042	We just got approved for $180K loan and FHA loan, due to low debt to income ratio. So we get Prime rate. But Doubt we go over $160... found some killer homes in Lee's Summit.
Posts: 36,832