Zillow Advice: Home Selling - I got a lowball offer - opinions please.

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Thu, 10 Jul 2008 14:13:00 GMT

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We were stuck at 330,000 ...

Thu, 10 Jul 2008 05:54:00 GMT

We were stuck at 330,000 and they were at I think 315,00 for awhile. They had to sell their old house I guess and it got sold so they had to have a place to move into and were more earnest in their dealings. At that time, we haggled some over a week or two and ended up at 325,000. They wanted a few things from the house that we'll be taking so we were haggling over that too. But they became more flexible once they sold their house. As far as timing with offers and counter offers, I never rushed anything and let everything take a few days each way - nothing to make it appear I was desperate but I kinda was and wanted to sell. At one point, I was gonna take the 315000 and run but I held back and then they sold their house and negotiations went better after that.

FL, AZ and NV seem like good places to look.

congrats rpachigo, at least ...

Thu, 10 Jul 2008 00:23:00 GMT

congrats rpachigo, at least you broke even. florida and arizona are nice places for half off condos right about now.

Just curious. How did you ...

Wed, 09 Jul 2008 22:36:00 GMT

Just curious. How did you end up at $325K? They said no to your last counter-offer, and then you went back to them and said you'll take the $325K? Did you do that as soon as they said no to your last counter-offer, or did you wait awhile before going back to them? I might have a similar situation, and I'm worried about the possibility that the buyer will then LOWER their last offer (which I have heard some people tell buyers to do in this type of circumstance).......but I really don't want to take their last offer; however, if a better offer doesn't come along, I may want to go back to them and agree on it........I do know that they are in love with the home (but they have drawn a line in the sand at a number that is much too low, MUCH lower than any recent comps have gone for.......)

Thanks for all the helpful ...

Wed, 09 Jul 2008 22:15:00 GMT

Thanks for all the helpful advice from everyone.

Whoo-hoo - did I call it ...

Wed, 09 Jul 2008 20:23:00 GMT

Whoo-hoo - did I call it or what? I said around $325K! Good luck with a smooth closing and finding a half off condo!

Under contract at $325,000. ...

Wed, 09 Jul 2008 20:22:00 GMT

Under contract at $325,000. Set to close by the end of the month. I'll keep everyone updated. Now where do I go to buy a half off condo?

rpachigo: we lost our "buyers" ...

Thu, 05 Jun 2008 16:40:00 GMT

rpachigo: we lost our "buyers" over about $50K (low ball offer-sort of), I wish I had your offer, and was only $10K away. I would take it if I were you! You are lucky! Hopefully they will agree. Good Luck.

I'm still here. They ...

Thu, 05 Jun 2008 08:55:00 GMT

I'm still here. They went up to 325,000 and we countered at 335,000. We're waiting to hear from them now. That was yesterday. To whoever mentioned paying a point, that sounds interesting. I'll mention that to my realtor and see what she says. Also, at one point, they wanted to do a lease to own or even owner financing because I had mentioned that awhile ago. I'm staying away from that route now since we seem pretty close. We'll see. I've already owner financed a medical building that I sold (6.75%) but with the house I don't know if I really want to go that route.

If I were the buyer I would ...

Tue, 03 Jun 2008 13:43:00 GMT

If I were the buyer I would have walked after two back & forths you only lower your price $10k total.

Too many houses out there to start playing tug-o-war with a seller that's trying to snatch up every last dollar.

Not to mention you own the place outright.