Counter-offer situation..WWYD?

This house, based on recent comps, is already a good 15 to 20 grand overpriced (although it is a lovely home)

The asking price was X amount.

I put in an offer for 20 grand less (to start the offer process)

The seller counter-offered 2 grand LESS than the asking price.

I counter-offered 15 grand less.

Now we shall see...I will go up a bit more, but WWYD?

Is it weird the first counter-offer was only 2 grand less?

What do you think?

Message edited 5/4/2010 10:27:26 PM.

Re: Counter-offer situation..WWYD?

I think they want close to their asking... did your realtor present your comps?

Re: Counter-offer situation..WWYD?

I agree. they probably can't afford to get much less then asking price or are not willing to accpet less. Its still worth neg. with them though

Re: Counter-offer situation..WWYD?

All sellers want to get the maximum they can, and they realize that you probably didn't make your maximum offer to start. They are just trying to squeeze you for the most they can get. You need to decide what your maximum purchase price is, keep it business and don't over pay too much. If the purchase price is way off market price, the appraisal will come in low and could be a problem for mortgage purposes. Good Luck!

Re: Counter-offer situation..WWYD?

sounds like they are not very flexible. don't over pay for this house, stick to your budget.

Re: Counter-offer situation..WWYD?

They don't seem too interested in negotiating. Keep looking esp if you feel the house is overpriced!!!