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Old 04-04-2005, 10:14 AM  
Hoover Hoover is offline
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House Crap (Again)

Ok, so I made an offer on Friday. I think I made a mistake by giving them 72 Hours to get back to me.

How long should you give them, 24 hours?

Anyway, I don't know what to think. If it was too low they would have rejected right away correct? This sucks.

Any advise out there?
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Old 04-04-2005, 10:16 AM   #2
|Zach| |Zach| is offline
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Old 04-04-2005, 10:16 AM   #3
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My advice is to sit tight. They want to sell the house, and you're the only buyer. You hold all the cards.
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Old 04-04-2005, 10:17 AM   #4
Simplex3 Simplex3 is offline
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Sit back and chill. It's all you can do. Some people correctly view their home as an asset to be negotiated, some people expect you to pay for their sentimental value. Nothing you can do but grab a brew and ride it out.
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Old 04-04-2005, 10:18 AM   #5
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Quote:
Originally Posted by Rain Man
My advice is to sit tight. They want to sell the house, and you're the only buyer. You hold all the cards.
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Old 04-04-2005, 10:19 AM   #6
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You should take it out on the little old ladies in the mail room.

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Old 04-04-2005, 10:19 AM   #7
Iowanian Iowanian is offline
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I gave my offer friday at 11:30, the offer sheet gave them until 1pm saturday..........They had countered by 12:30, I countered with a "take it or have a nice life" and at 1:30, owned the house....papers signed by 4, pending closing.

The Wife emailed earlier, and a co-worker of hers had put an offer for $4k more and had been rejected 3 weeks earlier.

Its all timing...they were nearing the end of the contract with the realtor, packing 2 mortgages in a month.......they had the realtor call me to see if we were going to make an offer, I waited 3 days and Blam!

If the owner makes that "uhh" sound when signing....you got a good deal.

I cut to the bone on my offer on their house because they needed to sell it.....I don't HAVE to sell mine, so I won't budge far from my asking price.
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Old 04-04-2005, 10:25 AM   #8
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I'm just pissed I gave them 72 hours.

I know I hold the cards, I don't have to buy crap. But If they were going to counter, I thought I'd have it by now.
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Old 04-04-2005, 10:25 AM   #9
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72 hours is plenty of time to send a couple of your boys over to their place to help them 'make up their minds'.
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Old 04-04-2005, 10:45 AM   #10
Iowanian Iowanian is offline
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I'm guessing its one of 3 things.
1. They're out of town and haven't seen it until maybe this morning
2. They're trying to sweat you, and will come back with a counter closer to asking
3. They are disagreeing over accepting/countering your offer(if more than 1)
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Old 04-04-2005, 11:10 AM   #11
Hoover Hoover is offline
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Quote:
Originally Posted by Iowanian
I'm guessing its one of 3 things.
1. They're out of town and haven't seen it until maybe this morning
2. They're trying to sweat you, and will come back with a counter closer to asking
3. They are disagreeing over accepting/countering your offer(if more than 1)
They were in town this weekend. (got to love small towns)

In our offer my wife included their wicker porch furnature, and the two pieces that they had in their new house was in the back of their pickup today. I think that could be a good sign.

I'll be thrilled if they take my offer.
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Old 04-04-2005, 01:57 PM   #12
Hoover Hoover is offline
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Update:

So they sent me a couter offer. Full Asking price, but they would put on new soffitt.

I wrote hell no on the cover sheet and faxed it back.

The realtor just left a voice mail on my cell phone.
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Old 04-04-2005, 02:07 PM   #13
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Quote:
Originally Posted by Hoover
Update:

So they sent me a couter offer. Full Asking price, but they would put on new soffitt.

I wrote hell no on the cover sheet and faxed it back.

The realtor just left a voice mail on my cell phone.

Well, now you know why it's been on the market forever. If they're not going to be reasonable, tell them that they can accept your offer any time, but that you can void it WHEN you find another home that you like better. Then go as silent as a satellite that was designed in metric and look for another house. They want to sell more than you want to buy; I guarantee it, so a couple of weeks of silence will be worth a lot of money unless they're just insane.

I tried to buy an office about a year and a half ago. When we arrived on the scene, the selling Realtor (who was truly an unimpressive individual) said that they'd just had two offers get pulled "because the buyers were being completely unreasonable." We put in an offer on the place, and someone - either the Realtor or the seller - was an idiot, because they did this kind of thing, too - counteroffering with their original asking price, not conceding even on small items that didn't hurt them and would help us, etc. We finally pulled our offer. 18 months later, it's still for sale, and I chuckle whenever I drive by. We ended up with a much better space, and they're still sitting on a large investment that's costing them a ton of money every month.
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Old 04-04-2005, 02:08 PM   #14
Hoover Hoover is offline
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So she just called my office said "I take it you didn't like the counter offer" Umm No. Then she said well they didn't like your offer either, it was to low, then asked if I wanted to make a counter offer, I said I'm not sure and I'll talk to my wife tonight.

I'm going to let them sit on the damn thing for another month and if it sells o-well.
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Old 04-04-2005, 02:32 PM   #15
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The good thing is that since they countered back to you they are legally binded to wait for your decision. They can not negotiate with anyone else until you counter, decline, or the time alloted for your counter has passed. Make them sweat it out until the end then counter back or decline.
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