Saturday, January 30, 2016

The Game or The Dance

We received our first offer on the rent house, which was rather insulting. The low ball offer was 40% below market value, we paid their closing cost, $500 home warranty, plus another $350 towards a new survey. Of course, we countered with very little give to see if they wanted to make a serious offer.


We counter with -$900 off list, no closing cost, $500 repair allowance, and to either pay for half of new survey or accept our old one when we bought the house.

They counter with 5K below our asking price, still want us to pay their closing costs, and move the $500 warranty into the repair allowance category. This was supposedly their best and last offer. As far as I'm concerned, they can keep fishing or take our last counter-counter offer. If they take the deal, they will walk into the house with at least 5-6 thousand of our equity.

We just lowered our list price by $2000, and will meet their "demands". Saying demands, makes it sound like a hostage situation....

The market will be getting warmer with spring right around the corner, and we have no problems waiting for another buyer, but would like to sale the house and be done with it.  I have no problems making the house into a permanent rental property, even though we'd like the equity out of it and less responsibility. We also aren't gonna give the house away either. I really hate this part of the process.

Keep Right On Prepping - K

8 comments:

  1. Re: hostage situation, try not to be the hostage. Let them play that part!!

    ReplyDelete
    Replies
    1. LOL! Thanks, I needed a laugh and perspective.

      Delete
  2. Good luck!
    God bless and stay safe.

    ReplyDelete
  3. Selling a house is never fun and often stressful. I hope you get a decent buyer.

    ReplyDelete
    Replies
    1. If not these people, then spring is just around the corner with more buyers getting out to house hunt.

      Delete
  4. Stand your ground. They think your desperate, if they counter again do the reverse and go back to your ordinal asking price.

    We have an offer to pay off our mobile home 2 1/2 years early, not sure what to do? cash strapped as on fixed income. I guess we wait.

    Good luck

    ReplyDelete
    Replies
    1. True, they see that the house has been on the market for 6 months,but don't realize I can turn it into a rent house and make $800/month with our low mortgage. We just don't want the hassle of dealing with renters, and would like to use our equity.

      Delete