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UPDATED:We finally got an offer after 10 months!!
It was definitly a ridiculously low offer and we told them that we are not countering but when they are serious to put in another offer. But I am still happy we had an offer and I feel like we are heading somewhere.
We also have this guy that has looked at our home 3 times and he is confused between our home and a home that is the same as ours and 3 blocks from us. If we get a very heavy rain or like when we had all that ice melt at once we do get some water in the basement in one part from corner of the foundation (where the floor and wall meet) and he freaked out. It doesnt flood just puddles and my DH was honest with him about what it was and what happens. We knew this problem when we bought the house. We also told him we would fix it. Their is no mold and is a very dry basement which I think says a lot for long island so I hope this doesnt scare him off.
UPDATE:
So the guy is willing to go up to $475 and DH is unsure about the offer because he thinks something better will come along. I am going nuts here this buyer is the perfect buyer. Has 20% to put down nothing to sell and has excellent FICO score. I hope my DH comes to senses while he is driving home and thinks about the comps our agent sent him today.
Message edited 4/2/2007 4:34:45 PM.
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Posted 4/2/07 8:45 AM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
MrsBlueSash
Love my sailor
Member since 6/05 5793 total posts
Name:
Christian
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Re: We finally got an offer after 10 months!!
I've seen 3 homes sell in the last few weeks in our neighborhood. I hope this spring season brings a buyer for you! (The right buyer, not a lowballer.)
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| Posted 4/2/07 8:48 AM |
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MrsPornStar
Partners in crime
Member since 10/05 14656 total posts
Name:
Mama
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Re: We finally got an offer after 10 months!!
Spring is here and so many people are looking now. I hope that you get more offers.
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| Posted 4/2/07 8:48 AM |
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Re: We finally got an offer after 10 months!!
That's encouraging, hopefully you get a buyer soon!
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| Posted 4/2/07 8:59 AM |
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mtnmama
Member since 5/06 4794 total posts
Name:
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Message edited 6/9/2009 4:05:03 PM.
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| Posted 4/2/07 9:04 AM |
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PotofLuck06
Our Baby Boy Is Here!!!
Member since 11/06 13241 total posts
Name:
Betsy
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Re: We finally got an offer after 10 months!!
Posted by hmpena
Spring is here and so many people are looking now. I hope that you get more offers.
I couldn't have said it better! Good luck!
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| Posted 4/2/07 9:05 AM |
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Porrruss
Nya nya nya
Member since 5/05 11618 total posts
Name:
Amy
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Re: We finally got an offer after 10 months!!
Seles- have you tried waterproofing the basement? It sounds like you have an unfinished basement like me. We had the same problem last June when Maryland had a week straight of downpours. Once the rain stopped, DH sealed the basement himself. Granted- it was quite a task- and he was high for awhile (fumes- ) even though he wore a mask, but it worked..... no more puddles.
I hear you about the low-ball offer- we had a woman who strung us along for weeks, then put in an offer that was insulting. And YES- we priced our home EXTREMELY fair. In fact, we stood to make no money at the price we had it at. We told her the same thing you did.
Weeks later we had a buyer who put in a low, but workable offer, and we settled in the middle (2,000 less than our asking price). We close on April 10
Good luck to you- hopefully this spring will be an upturn in the market....
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| Posted 4/2/07 9:43 AM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: We finally got an offer after 10 months!!
Posted by PotofLuck06
Posted by hmpena
Spring is here and so many people are looking now. I hope that you get more offers.
I couldn't have said it better! Good luck!
I agree.
p.s. why wouldn't you counter the offer you got?
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| Posted 4/2/07 10:59 AM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: We finally got an offer after 10 months!!
I'm confused - why didn't you just give a counter offer?
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| Posted 4/2/07 11:09 AM |
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JennCo
My greatest joy is my baby boy
Member since 1/07 2772 total posts
Name:
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Re: We finally got an offer after 10 months!!
Very exciting! I hope this spring season brings you lots of intereted buyers - and offers!
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| Posted 4/2/07 11:15 AM |
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Re: We finally got an offer after 10 months!!
Posted by cpanyc
Just to play devil's advocate here, but 10 months is a long time, could it be the "low-ball" offer wasn't so ridiculous?
I am honestly curious about the comparison of houses. Like have houses your size and in your area been selling for less? Have none been selling and their list prices are the same as yours?
We have been listed 10 months and this is our 2nd broker. Our first broker did nothing for us at all down to not putting remarks on the condition of the house and we basically wasted 6 months. We were also orginally priced high but I think we very fair now. We are asking $489 for a split level home in Farmingdale. The only thing left to do on our home is paint the basement and put a floor down also. My DH had planned on to finish sheetrocking and taping it anyway. The outside could use some updated siding but the house is mostly brick and to only side the siding part wouldn't be much at all
The offer we received was $447. We all felt like they were trying to play games.
The confused guy did make a bid this morning and we countered so hopefully he accepts !!
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| Posted 4/2/07 11:27 AM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: We finally got an offer after 10 months!!
actually if its priced at 489K and they offered 447K, I would have countered. You never know. If you counted with 480K, then so on, its annoying, but I wouldn't just throw the offer away
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| Posted 4/2/07 11:30 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: We finally got an offer after 10 months!!
I don't think an offer of $447 is terrible- I would counter - it's not that low compared to your asking price
and it's probably where I would start also
good luck!
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| Posted 4/2/07 11:30 AM |
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Re: We finally got an offer after 10 months!!
When we priced it this time we left room to negotiate but not that much room.
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| Posted 4/2/07 11:37 AM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: We finally got an offer after 10 months!!
Posted by Seles81
When we priced it this time we left room to negotiate but not that much room.
but that's why you counter. A lot of folks always start their first offer low in hopes of countering.
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| Posted 4/2/07 11:38 AM |
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Re: We finally got an offer after 10 months!!
Posted by kerrycec03
Posted by Seles81
When we priced it this time we left room to negotiate but not that much room.
but that's why you counter. A lot of folks always start their first offer low in hopes of countering.
If our absoulte lowest number is $480 then what do you think we should have countered at?
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| Posted 4/2/07 11:45 AM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: We finally got an offer after 10 months!!
Posted by kerrycec03
actually if its priced at 489K and they offered 447K, I would have countered. You never know. If you counted with 480K, then so on, its annoying, but I wouldn't just throw the offer away
I agree. I don't think an offer of 447K is insulting at all. If they had offered 350, yes I can see where the insulting part would come in. But you never know where these people were willing to go and now you just lost a potential buyer, some people just want to be able to negotiate.
I know in my situation, I made a low offer and the seller came back with that insulted business and said he wanted full asking price, so we said forget it. But we would have come up to 8K under his asking price - but he never gave us the chance by not countering. Honestly, in today's market you can't blow offers off like that.
I hope your other buyer works out though.
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| Posted 4/2/07 11:52 AM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: We finally got an offer after 10 months!!
Posted by Seles81
Posted by kerrycec03
Posted by Seles81
When we priced it this time we left room to negotiate but not that much room.
but that's why you counter. A lot of folks always start their first offer low in hopes of countering.
If our absoulte lowest number is $480 then what do you think we should have countered at?
yes, you should always counter. Like Sweettooth said, you just lost a potential buyer. You don't know their situation. Lets just say this happend:
you-489K
them-447K
you-485K
them-460K
you-482K
them-470K
finally maybe agree around 475-480K.
Its not worth it in this market to loose buyers because you didn't counter.
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| Posted 4/2/07 11:55 AM |
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lilacwine
only love...
Member since 5/05 2034 total posts
Name:
<3
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Re: We finally got an offer after 10 months!!
$447 is within 90% of your asking price. It's a strong offer.
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| Posted 4/2/07 12:02 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: We finally got an offer after 10 months!!
Posted by lilacwine
$447 is within 90% of your asking price. It's a strong offer.
I completely agree.
To be honest, most buyers are going to offer you 10% less than your asking price to start with.
We're withdrawing our offer on the home we picked out b/c we were unhappy with our engineer's report... However, our first offer was almost 10% less than the asking price, but the final offer / agreement was much closer to the asking price.
And you always counter, even if you only come down a little -- at least give them the chance to take a higher price. You could have said $485k or you could have said $480, but that's our absolute final offer, take it or leave it. Either way, I would have countered. They could have easily been willing to go up to $480.
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| Posted 4/2/07 12:16 PM |
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ODonnell
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Member since 9/05 5983 total posts
Name:
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Re: We finally got an offer after 10 months!!
Posted by lilacwine
$447 is within 90% of your asking price. It's a strong offer.
I agree. $447 is more than 10% less than your asking price.
If $480 is the lowest you will accept, I would basically say that to the buyer.
Message edited 4/2/2007 12:21:30 PM.
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| Posted 4/2/07 12:17 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: We finally got an offer after 10 months!!
Posted by ODonnell
Posted by lilacwine
$447 is within 90% of your asking price. It's a strong offer.
I agree. $447 is more than 10% less than your offer.
If $480 is the lowest you will accept, I would basically say that to the buyer.
Exactly. If it's taken 10 months to get your first offer, then I would not wait for someone to come with a first offer within $10K of your asking price.
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| Posted 4/2/07 12:19 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: We finally got an offer after 10 months!!
not a bad first offer at all
i think i would have countered at $485 and tried to get them to go up through negotiations
re: the basement - tell your dh to go to Lowes or HD and buy what they call "Hydrolic Cement" - this will put a dead stop to any leaks coming in. but be forewarned: THIS STUFF DRIES IN SECONDS, so you should only mix a little at a time and apply it gradually. HTH
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| Posted 4/2/07 12:21 PM |
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Re: We finally got an offer after 10 months!!
Maybe it is just me then because I would never offer that much off a house and I dont care how much I loved it.
When we bought our house we played the countering game but we started at $15K less.
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| Posted 4/2/07 12:24 PM |
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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
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Re: We finally got an offer after 10 months!!
i agree with the other posters -- I would've countered...even if it was only a little less.
The first house DH and I looked at was asking $399 and our first offer was $350. We settled at $360 (though we later backed out due to the engineer's report.)
Though to be fair, we really didn't lowball on the house we ended up buying. We offered $15K less than asking and settled at $5K below.
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| Posted 4/2/07 12:40 PM |
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