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empowered2008 | Quick!! What should I counter offer they buyer? My house is on sale for $600k, they are asking $560.? |
Additional Details
Thank you everyone for your quick response. I live in Southern California. There is one other house on my community that is $599 with my same square footage. We have been in the market since last August. $580 counter sounds good to me. Although my husband really wants $600k. The clients want our new appliances and are open to a counteroffer.
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buteaux34
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Without knowing the information that the other person already said is needed to make a better guess. I would say counteroffer with whatever you are happy to get for your house! If you are happy and content with 560K then offer 580k and if they say no then take the 560k. However, if you really want 600K then only sell it for 600k ... Might take a little longer though. |
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Nancy
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The potential buyers offer you exactly 90% of your list price. That is not a bad initial offer at all and it is definitely a good offer for a home that has been sitting on the market for over 9 months.
If you counter $580, that will be exactly 95% of your list price.
My guess is that they probably expect you to counter at where you plan to. If your husband wants to reject the offer and wait for a higher one (assuming it will come), then you should consider that strongly. Money is the biggest source of problems in a marriage and you don't want to have an issue with hubby over a measley 10%. If he is willing to wait several more months then who knows if you should but you should think seriously about his opinion. |
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frankie b
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All the advice above me is great. Keep in mind you stated the house has been for sale since last August (almost a yr).
Sounds to me the home is over priced to begin with and that's why it sat for so long. I would negotiate the best deal I could with them, then sell. I would say where they came in they probably will come up to 575k.
Good luck,
RE Agent,
Remax |
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romanticlover926
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Well? Your house has been on the market for a while. Do you want lo lose this buyer? That's always a worry. I would speak to your husband and meet in the middle at $590,000. What's the worse that can happen? They counter-offer. First, you need to find out how REALLY badly they want your house. Do you have any other buyers interested in tyour home? If not, be very cautious on bringin the price TOO HIGH. There are MANY other options out there right now, especially in Southern CA. Really think about this because it's been on the market for a while and if you make the wrong decision, it could make your house stay on the market for even more months. Good Luck!!! (piece of advice: Don't sell too low because that brings the value of your house and everyone else around you DOWN. That's what's happening right now. Everyone's selling TOO LOW. You need to find a balance.) |
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Spock (rhp)
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I recall data from the Board of Realtors to the effect that the average discount from the asking price at which the average house actually sells was/used to be 7%. 7% times 600k is 42k, so maybe your offer was made by someone who read the same report.
Still, real estate is about specifics, not general averages. Is there a buyer out there who will pay more than 560K?? Likely yes.
Can you afford to wait until that buyer shows up? It might be months. [The current stock of existing homes being offered for sale relative to actual sales is enough to last 8.4 months.]
And that's on top of the other factors ... did you price near the top of what you might expect? Did your agent talk you down to a lower figure?
Next question -- what financing will the buyer be getting? Some varieties require you as the seller to carry certain costs that you might otherwise think 'should' be paid by the buyer.
What other terms are being offered/asked for? [You are to pay for what?? warranty, termite report, closing costs, loan closing fees, what?? what's that next thing??]
***
Lesson: you want to think out what price you will accept in advance of listing and what your negotiating range will be. Also you need to be specific ... XYZ dollars cash to us, net of all costs except my loan payoffs and my agent fees.
GL |
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katie c
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take any offer you can in this market and run!!!!! |
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mefrancis
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What is your Realtor advising you to do? |
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Joe shmoe
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I think $595k is what I would suggest. |
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Cave Canem
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Well...what are the comps? Is your house priced correctly? What did it appraise for? What's the area like? What's the market like in your area? 40K is a pretty big difference... |
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jvazjr07
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What city are you in? It is a buyers market but dont give away your home. I would conteroffer 580. Stand firm by the lowest you may want to go. Unless...you are desperate to sell. |
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