Don't you hate it when...

[Indy_Guy_77]

People just don't understand that they're asking too much for their house?

The house we're very interested in is listed at $165k

The "comps" in the area place this house at somewhere between $153k - $158k. So we offered $155k.

They purchased the home for $30k less than they're asking... And have NOT done $30k worth of "get your money back" type of upgrades in the 5 years they've lived there.

And yet, they're hardly budging from their asking price. They came down a whopping $1500 on their first counter-offer. Nice.

*sigh*

Maybe in 5 months when their house is still for sale, they'll deal.

But, it's their home and it's their right to ask for it what they want.

-J-

 

[Lucas156]

Maybe they need to go on one of those shows where the host does a bunch of different things to get the house sold. One of those being making the seller realize they have to come down on the price if they want to get it sold! lol

 

[jennybird]

So give em the price they want. Then when you have the inspection done, tell them they have to fix every last thing that shows up on the inspection report. If they want top dollar for their house, their house better be in top dollar shape!

 

[Indy_Guy_77]

Maybe I should have a few of our resident realtors give their realtor a phone call and 'splain to them that they are, indeed, asking too much for this house.

Especially in today's market.

Becoming emotionally attached to a home, whether buying OR selling ain't ne'er a good thing!

Kind of like having to sell a firearm to make ends meet, only you're down to your last few favorites. You ask 40% more than it's worth just so you can tell your spouse "Honey, I TRIED to sell it, but no takers!"

-J-

 

[RelicHound]

So give em the price they want. Then when you have the inspection done, tell them they have to fix every last thing that shows up on the inspection report. If they want top dollar for their house, their house better be in top dollar shape!

agreed!

 

[Lucas156]

So give em the price they want. Then when you have the inspection done, tell them they have to fix every last thing that shows up on the inspection report. If they want top dollar for their house, their house better be in top dollar shape!

I like the way you think!

 

[pjcalla]

Don't give up. We had 9 offer/counter offers before we settled on a price, dependent upon inspection. After inspection, there were a few more. Very long process since the son of the lady we purchased from lived in Washington State, and the offers had to go through him. Whatever you do, ask for a warranty purchased by the seller. It only cost about $300 or so for the home we bought, but in the first year, we had our furnace go out. Saved us about $1,000 or so.

If you cannot come closer, ask for furniture, appliances, etc. that you may want to be left. Everything is negotiable.

Be patient. You don't want to over pay in this market.

 

[greyhound47]

People just don't understand that they're asking too much for their house?

The house we're very interested in is listed at $165k

The "comps" in the area place this house at somewhere between $153k - $158k. So we offered $155k.

They purchased the home for $30k less than they're asking... And have NOT done $30k worth of "get your money back" type of upgrades in the 5 years they've lived there.

And yet, they're hardly budging from their asking price. They came down a whopping $1500 on their first counter-offer. Nice.

*sigh*

Maybe in 5 months when their house is still for sale, they'll deal.

But, it's their home and it's their right to ask for it what they want.

-J-

I am sure you are trying to be fair when you say that the "comps" are in a lower price range. However, last time I sold a house I heard this A LOT, even from our own realtor! When I looked at what they were comp'ing I saw that I had crwon moulding, ceramic tile, recessed lighting, new carpet, wood floors (like new), new neutral paint, etc, the comps did not even come close.

My house sold in three weeks for $1500 less than asking price when the comps I was told to MATCH were $10k less. Comps are deceiving. Remember, all COMP means is comparable number of bathrooms, bedroom, square footage, etc. It does not take into account the overall wear, livability, style, or condition of the house!

It does not look like you are THAT far away from each other on price. Anyway, they would be fools to accept your first offer. don't take it personally, make your statements and offer again!

Good luck with this!

 

[Jack Ryan]

People just don't understand that they're asking too much for their house?

The house we're very interested in is listed at $165k

The "comps" in the area place this house at somewhere between $153k - $158k. So we offered $155k.

They purchased the home for $30k less than they're asking... And have NOT done $30k worth of "get your money back" type of upgrades in the 5 years they've lived there.

And yet, they're hardly budging from their asking price. They came down a whopping $1500 on their first counter-offer. Nice.

*sigh*

Maybe in 5 months when their house is still for sale, they'll deal.

But, it's their home and it's their right to ask for it what they want.

-J-

How much do you think a sheet of plywood or sheet rock cost 5 years ago? A house is nothing but a pile of building materials and a little labor.

Look at what lead, powder, brass cost just 5 months ago. Welcome to Brazil your money shrinks so fast you can feel your pocket get lighter.

 

[chasekerion4]

People just don't understand that they're asking too much for their house?

The house we're very interested in is listed at $165k

The "comps" in the area place this house at somewhere between $153k - $158k. So we offered $155k.

They purchased the home for $30k less than they're asking... And have NOT done $30k worth of "get your money back" type of upgrades in the 5 years they've lived there.

And yet, they're hardly budging from their asking price. They came down a whopping $1500 on their first counter-offer. Nice.

*sigh*

Maybe in 5 months when their house is still for sale, they'll deal.

But, it's their home and it's their right to ask for it what they want.

-J-

I see this from both sides. Mainly because housing here is dirt cheap compared to FL, but nevertheless....

If they countered with only 1500, counter again with 500 and to stop wasting your time. If they're asking more than they should be, and likely they are if we're talking about a cookie cutter subdivision (where all houses are generally in the same price range), then you're the only offer they have.

People never seem to understand that it really sucks ass paying 2 mortgages while only living in one, and the way the banks are right now, they very well COULD be stuck with only being able to have one mortgage, thus they can't buy another house until this one sells.

There are hundreds of repos (foreclosures) available around Indy. We've got one here that is brand new, $640K in it, and I bet you the bank will unload it for the high 3's. I think the realtor is listing it for $440.

There's oodles of houses out there, and in this market, you'd be insane to pay asking price on ANY house. I'd bet you can find a nice house where the seller will eat $20K just to stop the bleeding.

J, what I'm getting at is this; unless you MUST have THIS particular house, tell them to stop wasting your time. Give them a final counter, with a note that each day they wait to accept, the offer decreases by $500, as you're an "eager buyer" ready to buy a house.

 

[Disposable Heart]

We live in a decent neighborhood here. But, we have had TONS of house flippers, most of which dont know what they are doing. The house next to me, busted by two different tennents for drug MANUFACTURE and possession, was a flipped house. Lots of folks used to be into that stuff, then dont understand that a house is a **** poor investment to make quick cash.

I think you are right, theyll make a deal, only after it costs them three to four times what they paid to maintain an empty property and house!

 

[NEWMAN]

I'll sell you y house in BR.

 

[Indy_Guy_77]

Yeah... Their 2nd counter, they didn't come down a cent.

None. Zero. Zip. Nada.

This is a 1970-built house that has the ORIGINAL KITCHEN in it (minus appliances). Lime-green wooden laminate counter tops, anyone?

We rejected the counter and are going to look for other homes.

It's not worth messing with!

Just hope the owner/s aren't a member here. LOL

As far as a bank-owned home, we're not opposed to it. But we're quite picky on what type of place we want to live in...established neighborhood, non cookie-cutter, at least 1/3 acre yard, two "living rooms", things like that. And not anywhere in Marion County. I've looked through all the gov't program websites for repos, nothing anywhere CLOSE to what we're looking for. I've also looked through several websites are supposed to list multiple bank's owned properties. Same thing.

Also, we don't have the extra capital to buy a home AND re-do it. MOST repo's are in terrible condition. Plus, I don't have the know-how to do things myself. Oh well.

-J-

 

[theweakerbrother]

Some people are just nuts. My dad has been going back and forth on a house in Columbus for a while until recently. I think they were asking around 200,000 for it... not worth it as it sat for several months. He offered them 140,000 and they sold it without even counter offering him for 142,000 to another person. It is all part of the game, I guess!