What should my counter counteroffer be?

Question

I made an offer yesterday on a new construction house that has been on the marked for over 1 year. Its listed at 284,900. When it was first on the market over a year ago it was listed for over 300kl. I low-balled an offer at 270k and they countered with 280k. The realtor told me the seller stated that this would be the BOTTOM LINE.... Do I dare to make another offer, maybe take the 280 and ask the seller pay closing costs or do I make another offer???

Thanks

Answer 1

Ask for the closing costs and do not raise  your offer.

Make it contingent on a home inspection. Even though it's new contruction some builders take a lot of shortcuts and the house has been sitting empty for awhile.

Inspections on new contruction are not that uncommon. If the builder says no to the inspection then walk away. They're hiding something

Answer 2

Man some people need to stick to thier guns here.  I think its funny they told you thier final offer was 280,000.  Man counter back with 270,000 and have a few reasons why you think it should be that low.  Don't let them bully you into thinking that 280,00 is the bottom line.  If not walk a way you're not obligated to buy at thier price.

Be agressive and hold your ground.  One thing I've learned in negioating is give your offer and dont say a word cause the first person who speaks loses.

Answer 3

get A realtor and do some research on the area. get some negotiations ammo.

Answer 4

I'd go with an offer of $275,000 AND seller to pay your closing cost .....

In today's market ... Most sellers can't afford to be too picky ....

Answer 5

I like the closing cost offer.  What ever the responce you get to that offer,   take it, don't expect any more even if he says he won't help with closing.

Answer 6

What is the house worth?  What someone is willing to pay for it.  

So, is it worth $280K to you?  20% down is $56K, 6.5% rate plus insurance and 1.25% tax rate bring your payment to just under $1600/mo.  The final purchase price will have the greatest effect on the down and the property taxes.

Taking his counter offer secures you've got a deal.  Countering back with the closing cost business will probably lower your cost to buy by about $5K, but adds some risk to getting the property.

How bad do you want it?  The answer to this question will give you the answer to your own.

Answer 7

Definitely make another counter offer.  Remember you can always go back up.  If they want to get rid of it, and they do cause they are paying interest on borrowed money the longer they take to sell it, they will come down in price some more.  Give them the choice, $275k or $280k with $5k paid toward closing costs.

Answer 8

If you make an offer and they don't accept it, THE DEAL IS DEAD.

Know that before you counter and don't accept.

However, you can always create a new offer.

PS:  Your Realtor is stupid for not asking for closing costs to START with.

Builders are ALWAYS willing to pay closing costs (or didn't your Realtor tell you that....oops! )  This is Real Estate School 101...the builder didn't give you anything...all they did was subtract what they would have otherwise paid anyway.