I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**

We saw THE house on Friday. Put in an offer on the spot. The owners wanted to think about it, since it had only been on the market for 6 days at the time, and the first open house is scheduled for tomorrow. Our REA called them again today, and they affirmed that they weren't going to counter until next week, after seeing how things went at the open house.

I want this house. We've seen 60-70 others and I just know. The listing price is the same price that we were going to pay for the disaster last week, so... we went all in. We offered full asking price.

Are we crazy???? This house is mint, nice-sized, and in a prime spot in a beautiful neighborhood. The asking price is actually reasonable. Like, not 7% above reasonable where you expect to negotiate it down - it's already there. It's going to go for within 5K of listing price, so why not just lay all our cards on the table and be done with it. Right? So why do I feel so nauseated????

I need to go pour myself a drink. Or eight.

Message edited 11/8/2009 5:02:22 PM.

Re: I think I'm going to throw up

i think you made the right move. you would have ended up there anyway if tey negotiated with you on this. in my opinion they would be silly to pass up getting what they were asking and waiting for another offer like that to come in.

fingers crossed for you

Re: I think I'm going to throw up

i would have done the same if i REALLY , REALLY wanted it.
it's one of those things that if you didn't do, you'd be kicking yourself forever. (which is not worth it when it comes to "big" things in life...and purchasing a home is a big deal)


good luck!!!

Re: I think I'm going to throw up

Thank you. I'm so nervous that I'm going to be kicking myself over this. Every buyer feels like they want a good "deal," and paying asking price doesn't sound like a deal. But the asking price was really, truly fair market value. And I was going to pay the same exact price for another house we put an offer in on last week. That house needed a little work, and this one needs nothing (cosmetically at least).

You're right, had we negotiated, the best we would have done would be 5K less than asking (IF we even got the house), and I can live with paying $21 a month more for the privilege of living there.

I'm just crunching the numbers now to make sure we can really afford this... I did it 100 times already, but now that it's really real I am freaking out.

Re: I think I'm going to throw up

It sounds to me like you did the right thing, but it may be that they priced it right at market hoping for a bidding war. If you were willing to pay the listing price and it's that great a house you may find that if someone sees it at the open house and is aware that there is an offer in at full list they may come back with an offer that is $5000 over listing, or may offer some other incentive, ie: cash deal. I would do whatever you can to sweeten the deal. Can you close on the date they want, are you already pre-approved for a mortgage, etc. If you are pre-approved and don't have to sell another place before you can close then it may be more attractive than someone that offers a bit more money but is contingent on selling their current home first.

Re: I think I'm going to throw up

I think you did the right thing.

If you LOVE the house and were willing to pay that for another, why not?

Better to give your best offer then risk losing it.

GOOD LUCK!

Re: I think I'm going to throw up

Thank you! Still waiting. The open house is today.

Re: I think I'm going to throw up

Similar thing happened to us.

We saw a house on the 1st day of the open house (the house had been on the market for 5 days prior)

The open house was packed, I mean cars up and down the block to get in. We walked in and fell in love. It was in the perfect location for us and the house didnt even need one room to be painted, it was basically in perfect condition.

Anyway, it was listed very reasonably because the owners needed to sell fast. My dh is a realtor and a mortgage broker thankfully and he knew what we needed to do.

The next day, we offered $10 above asking price. We found out that there were 6 offers already and the owners were waiting a few more days because more offers were supposed to be coming in and then they were going to look at all the offers.

Well low and behold, 2 days later we got a call that the house was ours. We believe that $10 was enough to make us the front runner, because most people will not offer asking price or above even if it is a reasonable house.

We felt comfortable with that price but actually got it for $15,000 less than what we offered becuase it appraised for less so the owners had to lower the price if they wanted to sell.

It really sounds like you have a good shot and you were 100% right for offering the full amount. This wait is horrifying and I hope it is not too long for you guys. Good luck and keep us updated

Re: I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**

UPDATE:

They talked to my RE Agent before the open house and told her they wouldn't accept our offer. We offered full asking price, 20% down, are pre-approved for a mortgage, and can close whenever is convenient to them because we're just renting month-to-month.

So what are they looking for? Obviously they're hoping to get an offer above asking price. So we just have to sit back and wait, and hope that since today was such a gorgeous day people were out enjoying the weather and not at the open house! And in the meantime, we keep looking....

Re: I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**

I'm sorry to hear that. It sounds very odd to me. Did you RE find out what their deal is?

Re: I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**

Sorry to hear that...keep looking and everytime you put an offer in keep looking cause you never know if an offer will get accepted. Houses that are priced to sell are getting above asking. We even offered above asking on one house and didnt get it. It takes time and you will find the right place.....I know its hard but try not to get too attached to houses cause house hunting is an emotional roller-coaster and can really take a toll on you.

Re: I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**

Im sorry. I hate real estate for this reason Maybe they aren't ready to sell or like you said want more money

I hope they come back to you!

Re: I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**

Posted by DavaDay

We saw THE house on Friday. Put in an offer on the spot. The owners wanted to think about it, since it had only been on the market for 6 days at the time, and the first open house is scheduled for tomorrow. Our REA called them again today, and they affirmed that they weren't going to counter until next week, after seeing how things went at the open house.

I want this house. We've seen 60-70 others and I just know. The listing price is the same price that we were going to pay for the disaster last week, so... we went all in. We offered full asking price.

Are we crazy???? This house is mint, nice-sized, and in a prime spot in a beautiful neighborhood. The asking price is actually reasonable. Like, not 7% above reasonable where you expect to negotiate it down - it's already there. It's going to go for within 5K of listing price, so why not just lay all our cards on the table and be done with it. Right? So why do I feel so nauseated????

I need to go pour myself a drink. Or eight.

Message edited 11/8/2009 7:58:11 PM.

Re: I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**

Yes, same house. We offered 20K less on Friday night, and when they didn't counter, we said, "alright, fine, we want it and the price is right so we'll pay you full asking price." That was yesterday. We heard back this morning that they didn't want that either - they wanted to wait until after the open house to start any discussion.

The thing is, this house is not underpriced. It's probably worth about 5K-10K less than we bid. But we really want it, we're tired of looking, and it's in our very favorite neighborhood where no other houses are for sale right now. So we'll suck it up and pay the 5K more. We just have to wait and see if any other couples are thinking the way we are, and are willing to pay even more than that...

Re: I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**

i can't believe it! see... people in their first week of being on the market are totally clueless. i am sure their realtor is saying "accept the offer!"

people can be so clueless.

for you guys!

Re: I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**

Well, this same exact thing happened to us when we were selling my husbands condo. We put it on the market and before it even hit MLS we got a full price offer. We told the woman that she had to wait for the open house. After that we received another all cash offer only slightly below asking. Ultimately we went with the full price offer but we needed a little time to think about it. I think we accepted within a few days. Hopefully you will hear back from them soon but they are probably thinking if they got a full price offer so quickly that they probably priced it too low, and so they just need a little time to realize that they just got lucky that you were in the right place at the right time. You kwim?

Re: I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**

Re: I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**

I cannot believe in today's market that a home owner would not accept a full asking price from a buyer.

You have to ask yourself what is going through their minds. Do they still think it is 2005 and they are going to get another full asking price or a price over asking?? That is crazy

My wife and I bought our house back in 2005 in the bubble and we paid $10k over, but that was the normal thing back then....

I really hope the sellers come to their senses and accept your offer.....Dont they know the first offer is usually the highest offer....ugh.

What town are you looking in?

Scott

Re: I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**

Move on. You'll find another house and these people will lose out.
They will wind up having to take an offer months from now a lot lower than yours, after they drop the price a few times.
You don't want to deal with these kind of people anyway, they would probably make the whole process a nightmare.
I know it is frustrating, but the right house is out there for you.

Re: I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**

I can't believe this. Give it the week and see what happens. And keep looking.

I don't get what kind of game they're trying to play...its like if they wanted more, why didn't they just ask more.

Re: I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**

These people are idiots. They are getting full asking price on their house and they don't take it?

If they are waiting for a higher offer, they are mistakenly in the wrong housing market.

Re: I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**

I have to ask is your loan a FHA, Vet Loan? If not they are stupid.

Re: I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**

Have to concur with the others- when we tried to sell our house, I read in more than one place that the first offer is usually the best offer. They are foolish if they think they are going to get something better.

Re: I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**

That is completely idiotic!!!

They either want to see what else they can get from the open house, they are getting greedy or they hope to get a bidding war.

If someone offered me full price on a house in this market, I would pack my $hit on the spot. 6 days is amazing. They don't have to keep showing the house, etc...

You might still have a chance. But start looking at other houses.

Re: I think I'm going to throw up **UPDATE: THEY DIDN'T TAKE OUR OFFER**