Scenario: Home is listed for one week then pulled from the market

Profile picture for Giantxtc74
After going through the home a couple of times my wife and I prepare to put an offer together for this home.  Only to find out the seller pulled it off the market.  We were informed that the seller would continue to accept offers on the home.  We are working with an agent representing us and he has been speaking with the sellers agent.  We placed an offer on the home and it was rejected.  We were informed that the seller isn't motivated and that they will only consider full asking price.  

I guess I'm just looking for some advice on the matter.  We are considering putting together another offer.  Do you think it's a bad idea to write an offer for the asking price with the seller paying closing costs?  A little background- We love the home and think it is priced pretty competitively.  There are no other similar homes available at the current time.  We are very motivated to move at this time. 
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September 04 2009 - US
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Answers (5)

Profile picture for taylors2000
well from my point of view they probably rejected your offer because they owe more than what you offered.  if the people selling it owes more for the home there not going to take a low offer plus the sellers have to pay the realtors. if you want the house give full price but ask for closing cost.and warranty. also you may want them to pay for inspection as well. hope this helps you out and good luck. 
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September 04 2009
Profile picture for scarrier12
This is a classic supply and demand issue. If there is little supply in the area your looking at, it will most probably be the same when and if you decide to sell. If you like the home and think it's worth it, buy it. Sometimes the seller only accepting the asking price makes the process clean cut! Remember that you're protected by the appraisal and inspections!
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September 04 2009
There are nothing to prevent you from make 2nd offer and 3rd offer.
Now try 'to write an offer for the asking price with the seller paying closing costs'. If it doesn't work then write the 3rd offer with 'Full asking price'.
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September 04 2009
Profile picture for Giantxtc74
Thanks for the response wedawg.  The full price is pretty much at our spending limit so that is what's holding us up right now.  I think some time may do the deal some good.  The home is unoccupied and has been that way for over a year.  
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September 04 2009
Profile picture for wetdawgs
If the seller isn't motivated, and you are motivated buyers, then I'd go full asking price and pay your own closing costs.    Asking a seller to pay closing costs basically is saying you aren't giving them a full priced offer, because what ends up in their pocket  is still less.

If this isn't acceptable to you, then keep looking.  There are lots of houses on the market!

We once wanted to make an offer on a house in a similar situation.  Nothing would motivate the seller!
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September 04 2009
 

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