Would you let $5000 come between you and your dream house?

a little background...I have a buyer that i've been working with for quite some time now. there was a house they made an offer on in syosset and lost out on because it took them forever to counter any offers the sellers thru back...they had to discuss everything in length with their parents....mind you they're almost 40...they are not kids.

then i finally found them this GREAT house in plainview, needs no work. granite countertops, new roof, new siding, basement is completely redone, new bathrooms, hardwood floors, CAC, the works. they make an offer....lowwwwwww. so i present it and the seller counters. this was on SATURDAY! buyer is stuck at $430k and the seller wants $435k (this is what he NEEDS to net after paying off everything so he cant budge). the buyers think they're being slick and sticking to their $430k thinking the seller will cave. i think they're just gonna lose the house to another buyer again.

my question to you is, after 4 days of negotiating, would $5k keep you from the house that you say is your "dream house"???? for me, maybe because i do this stuff daily, its not a big deal to me. you wouldnt even feel an additional $5k a month on your mortgage! if you LOVED a house as much as these 2 claim to, would you let this small amount keep you from it or would you just go for it?

Re: Would you let $5000 come between you and your dream house?

hmm, I wouldn't but I would counter at $433K. This way its a happy medium.

Re: Would you let $5000 come between you and your dream house?

If I loved the house and it was perfect for me I would just go up $5k. It doesn't seem like they are really ready to pull the trigger though. I know that we seemed serious a few times for a few homes we saw, but we were terrified. It's a huge amount of moolah in total! Big committment. It sounds like they get close and then get scared.

Re: Would you let $5000 come between you and your dream house?

I wouldnt but I would also be skeptical of a seller not budging over $5k. Presumably, if they dont get another offer right away, they are going to keep incurring expenses on the house, and that $5k is going to be gone before you know it!

Re: Would you let $5000 come between you and your dream house?

Message edited 4/24/2007 11:20:36 AM.

Re: Would you let $5000 come between you and your dream house?

They may have "commitment" issues.

Honestly, $2500 or $5000 is nothing for a house at $435000.

Either that or they are really don't have the money and they are overly stretching themselves. They may have had to talk to the their parents because they are borrowing money from them that they can't qualify for or need a bigger down payment.

Re: Would you let $5000 come between you and your dream house?

After going through the process with our house, it was the same thing. My DH was being stubborn & the difference between our counter & what the seller was willing to come down to, came out to a $5K difference. Needless to say, the house was my dream house, no work & really loved the layout. We ended up meeting in the middle & everyone is happy!

I think this couple is unsure of what they want. If you truly need to think about it or consult with your parents (at 40) they are just not 100% ready!

Re: Would you let $5000 come between you and your dream house?

Nope, I woudnt let $5k get in the way, especially if I liked the house. It really doesnt make a big difference at all when you look at the big picture.

I think they are scared also.

Re: Would you let $5000 come between you and your dream house?

I would probably buy it, but if they seller really wanted to get the deal done maybe they would work with the realtor about the comission. For our house we came up 5K but the realtor also took 5K less in commission.

Re: Would you let $5000 come between you and your dream house?

no way Emily, and that is an amazing price to begin with!!!

I need your help finding something. I'm too lazy to do it myself!!!

FM me when you get a chance.

Re: Would you let $5000 come between you and your dream house?

I wouldn't and I didn't. We actually bought for 5K more (exactly) than we originally said we were going to spend because we loved the house SO much. We didn't want to miss out and end up looking for another 6 months or more.

Re: Would you let $5000 come between you and your dream house?

We were in the same situation a few days ago. The sellers came down to their final number and we had reached our upper limit. We hit a $5,000 stand-still. This was on Friday - we decided to wait it out over the weekend and if we didn't hear from them by Monday, we were going to suck it up and go up the extra five.

We got word on Sunday that the sellers came down to our price.

While we were being stubborn, we loved the house too much to let $5,000 get in the way of it.

Re: Would you let $5000 come between you and your dream house?

No, we actually are going through this now for a larger amount of money. We are going for it!

Re: Would you let $5000 come between you and your dream house?

sounds like they're having issues... i was willing to pay an extra $15,000 to make sure i had my dream house

Re: Would you let $5000 come between you and your dream house?

$5,000 amortized over thirty years at 6.5% is $31.60 more a month.

if they want $30 a month stand in the way of their dream house, they are crazy.

Re: Would you let $5000 come between you and your dream house?

Re: Would you let $5000 come between you and your dream house?

I might - it would depend. Do I qualify for a mortgage that covers that extra $5K, or do I have the extra $$ in cash to put as a downpayment? Everyone's situation is different. If I didn't have the money, then yes I would let $5K get in the way.

Re: Would you let $5000 come between you and your dream house?

Seems like $5k is the magic number.

That what was standing between us and the seller. We were willing to go up another $5K if that is where they countered.

Re: Would you let $5000 come between you and your dream house?

This was our story when we bought our apartment. The seller had a price that she refused to move below, which was $5k more than we wanted to spend. In the end we just went for it because it wasn't worth haggling or losing the place.

Re: Would you let $5000 come between you and your dream house?

Re: Would you let $5000 come between you and your dream house?

Re: Would you let $5000 come between you and your dream house?

no way! unless it was overpriced to begin with, which it sounds like it's not. it seems like they must be stretching themselves already if 5k would be a deal breaker. how frustrating for you!

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Message edited 1/8/2008 10:57:55 AM.

Re: Would you let $5000 come between you and your dream house?

Re: Would you let $5000 come between you and your dream house?

no, when you're talking these kinds of numbers, 5K doesn't really make much of a difference.