So we are in a "bidding" war

with the owners of the house we want to buy. We gave them our offer on Friday and they immediately came back with an amount 15,000 more than we bid, with 4000 off what we asked towards closing. We came back in the middle of that they countered, and they came back with $4000 more. So we are only at odds over $4000. We haven't countered back though. DH and I told the realtor we are going to let them wait till Monday now. Their house has been on the market for SEVEN months. If they want to penny pinch, they can just say goodbye to us and let their house sit for another 7 months I sent my realtor an email this morning with a link to a fridge I want saying I would be willing to add $1,000 to our last bid if they will get us the fridge

Re: So we are in a "bidding" war

We had the same situation with the first house we bid on. They were being so stubborn over such a small amount, that we decided that if they were going to be like that over this, they were going to be a pain throughout the house process, so we withdrew our bid.

Fast forward, they never sold their house and we found a much nicer house for less money, so I guess it was meant to be.

Re: So we are in a "bidding" war

Re: So we are in a "bidding" war

Can I offer the "other" side? Having had my home on the market for 7 months, we had finally lowered our home to the lowest price we could possibly go without losing $$$- and well below assessed value.

We had a woman who came to see the house a bunch of times, told our agent she definitely wanted the house, but needed to work out "some things". After a month she low-balled us with a laughable amount. We didn't even counter. Actually- we decided to take the house off the market.

Don't assume JUST because a house has been on the market for seven months that the owner will "take anything". 4,000 is NOTHING when it's built into a mortgage- but 4,000 out of someone's pocket is (which MAY be the case here).

The day we took it off the market- we got another offer from someone who thought they would "wait and see" how low we'd go..... They never thought we'd pull the listing.

If you absolutely love the house- don't lose it over a few thousand dollars......

Re: So we are in a "bidding" war

Re: So we are in a "bidding" war

Why dont you usee if they would meet you in the middle? Instead of going up $4000 - Tell them you will go up $2000.

Scott

Re: So we are in a "bidding" war

Some of these sellers are out of control and way too greedy. I hope the house sits for another 7 months

Re: So we are in a "bidding" war

We had this same situation on the first two houses we bid on. Needless to say, we continued our search and the third was our lucky straw.

Re: So we are in a "bidding" war

Re: So we are in a "bidding" war

Posted by Splooky

Posted by danielleandscott

Why dont you usee if they would meet you in the middle? Instead of going up $4000 - Tell them you will go up $2000.

Scott

We are thinking about doing that.. but there is no fridge, washer or dryer in the house. Most of the same houses in that price range come with all that.

Re: So we are in a "bidding" war

Message edited 3/4/2007 11:20:59 AM.

Re: So we are in a "bidding" war

So, they're kitchen is upgraded but doesn't have a fridge? Makes no sense to me I wouldn't go up at this point, but that's just me.

Re: So we are in a "bidding" war

Posted by mrswask

So, they're kitchen is upgraded but doesn't have a fridge? Makes no sense to me I wouldn't go up at this point, but that's just me.

Re: So we are in a "bidding" war

Is the other house still on the market? I think you need to decide how much the cherrywood cabinets are worth it to you - I'd probably go for the other house!

Re: So we are in a "bidding" war

Message edited 3/4/2007 11:31:36 AM.

Re: So we are in a "bidding" war

stay at your number

Re: So we are in a "bidding" war

Posted by Splooky

Posted by mrswask

Is the other house still on the market? I think you need to decide how much the cherrywood cabinets are worth it to you - I'd probably go for the other house!

The upgrades on this house are $5,000 (They also have an upgraded lighting package for the livingroom which DH loves). I just realized that the pic online of the kitchen doesn't have a fridge either, but the paperwork my realtor had us sign says it has a fridge.
IMAGE

Re: So we are in a "bidding" war

No, this is the one we want.

Re: So we are in a "bidding" war

I think they only have to provide a sink, a stove and a toilet. All other appliances are extra.

Re: So we are in a "bidding" war

Re: So we are in a "bidding" war

Re: So we are in a "bidding" war

I've noticed this a lot lately too - lots of new construction at prices but with no refrigerator It just seems odd to have the space there but no frig

no frig

another w/ no frig

yet another w/ no frig

And still another w/ no frig

I would not come up by $4K but if you love the house counter and raise by about $2K + get a frig.

Re: So we are in a "bidding" war

I am looking at the sellers Disclosure Statement and they did check off that it has a fridge. So technically, they should provide us with one since their Statement says it has one. They didn't check off washer and dryer so they obviously didn't make a "mistake" by checking off fridge.

Re: So we are in a "bidding" war

So do you have comparables for the area? For example- are they so out of line with their pricing that there are other homes in the area with the same specs + all appliances and priced below what they are asking? If so- counter with a lower amount with info that you have comps for the area that support your offering price......

Re: So we are in a "bidding" war

It's hard for me to say if the sellers are being ridiculous or not. It certainly sounds that way, but I agree with the last comment, you need to compare the price with other homes in the area. If they are priced low, then perhaps they need to stick to their price. If they are priced even and have no appliances, then it sounds as if you are right to stick with your number.

Don't assume they are desperate to sell if you love the house just because their place has been on the market for 7 months. Our place has been on the market that long, and while DH and I would love to sell it, we will only go so low on the price. We feel it's priced competitively for the area, and while we're willing to negotiate, we don't want to give it away either. If we don't sell it by summer, we may very well pull it off the market and rent it with the option to buy. This may have nothing to do with your situation, but I'm just saying not every seller is desperate.

Good luck to you, and I hope they meet you half-way, or throw in a fridge at least!