How do you think this will end up? It's a Real Estate Offer, on our House.?

Question

We're asking $875,000. Their first offer was $800,000. We countered with $865,000. Their next offer was $810,000. We countered with $855,000 (an important note: our agent "forgot" to give them this offer, she left them hanging for 2 weeks!). So ... when she finally presented our $855,000 offer, their counter offer was $812,000 (they were probably annoyed by the wait, even though it wasn't OUR fault, I doubt our agent admitted HER error, and they think that we're jerks). LUCKILY FOR HER, WE HAVEN'T LOST THEM! What do we do now??? We were going to land in a happy place, now she's caused a riff in the water. We don't know where to go??? Just continue on, like their last offer was $820? And go with $845? Any thoughts?

Answer 1

Keep it in mind that it's buyer market now.  Also the housing trend is sliding fast and that's understandable your buyer offering you a price very cautiously.  If you don't really want to lost the deal, accept the offer. Keep countering each other you're just give your buyer chance to look around for another alternative.

Answer 2

They are playing games.

I would refuse to play and submit a final counter offer, take it or leave it.

Sells with people playing games like this rarely close, they are losers and will mess this up before it finishes.

Answer 3

You are asking us to be like Karnak the Magnificent. We don't know the location or details.

My guess is they will go no more than $815,000.

Answer 4

These buyers are low-balling you and I don't think they're going anywhere near where you want to go

Your realtor just committed malpractice, breach of ethics, etc.

You need to think about how low you are willing to go, because these guys aren't going to go very high, and lots of people don't like protracted negotiations and counter, counter, counter-offers, although to others it is a game.  I'm not so sure you were going to land in a happy place.  Just look at the difference in their increases and your decreases. . .and they are thinking they have you hooked and you're desperate. . . .

There are no rules, you can act like their last offer was $820. . .but they may be at limit of their credit.  Are they pre-approved?  Do you have any info on their ability to buy, to get jumbo mortgage?  Has your realtor given you CURRENT market analysis--are home prices in your area still falling or stable?

OK, they have been in the picture since February when they offered $750--these guys are bottom fishers.  They want your house, but only at what they conceive as a bargain price.  Did your listing contract exclude them from commission?

Answer 5

Your Realtor sucks.

First of all, she obviously hasn't pulled any comparables to help you make this decision, and if I was representing your buyer, they are making offers only coming up $2,000 and you COME DOWN $10K each time?

Heck, I would tell them to keep going.

It all depends on how much you want to make...you didn't say how long you have lived in the house, what your payoff is, how much the Realtor is charging, local fees that may be involved, if they are asking for closing costs, etc.

ALL OF THAT is important when deciding.

But your Realtor doesn't have a clue as to what she is doing.

Answer 6

When you set your price at 875K, what were you really aiming to get? What do you need to get out of the property in order to walk away in a good position? How low are you willing to go to make the sale? That should be your guiding principle.

Answer 7

depends on your market and how badly you want to let it go. In some markets you're lucky to even get an offer, let alone having them not walk away with a counter.  I got two offers, coutered right down the middle, and lost both buyers.  ended up 1 week later going to the second offerer and just accepting it outright.

I most markets you can't get greedy.  If your market is as bad as the rest of the country I would accept the $812k if you don't have to bring any money to closing.

Answer 8

If their last offer was 812K  meaning they only went up 2K over their last offer, it would suggest that the buyer probably will not go higher then 815K and will probably not offer 820K by the way they have increased the previous offer

Without knowing all the facts, just what you have posted i would not assume the buyer will offer anything higher then 820K if you can get them that high, and based upon the previous offers they are not going to go from 812K to 820K anytime soon