Blenheim
Ideal_Rock
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how the heck do I write this?
- Thread starter firebirdgold
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Indie - The strategy that you''re using (i.e., being willing to big X dollars over any competing bid up to Y total dollars) is exactly one that I advised a friend of mine to use on her "dream home." Her realtor talked her out of it (I don''t work in the suburbs so she had someone else doing her deal) and had them put in a flat dollar counter offer in a competative situation like yours. They ended up losing the house over (I''m not kidding) a $500 higher bid they found out later. I''m surprised that the amount that you''re willing to exceed another bid is $2K though; that seems a little high.
Competative situations are always tough, and the hardest thing for a potential buyer to do is to find the number that they are still comfortable paying but also one where they are not OVER paying. And it''s a slippery slope--what''s 12K if you''re already at 8K? Hell, what''s 15? Or even 20 at that point--it IS your dream house after all! (Do you see what I mean? These situations can spiral out of control... )
Your realtor should have comp''d this out sufficiently so that you know that the reasonable level is pay is, and that is the number that you should not go (much) beyond.
Competative situations are always tough, and the hardest thing for a potential buyer to do is to find the number that they are still comfortable paying but also one where they are not OVER paying. And it''s a slippery slope--what''s 12K if you''re already at 8K? Hell, what''s 15? Or even 20 at that point--it IS your dream house after all! (Do you see what I mean? These situations can spiral out of control... )
Your realtor should have comp''d this out sufficiently so that you know that the reasonable level is pay is, and that is the number that you should not go (much) beyond.
gailrmv
Ideal_Rock
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Well I am no expert, but I just sold my house. We had two full price offers come in on the same day and one wrote us a letter. It really made it an easy decision for us. The buyers seemed to have a lot in common with us and it was clear that they had an appreciation for all the work we did on the house. The guy has some professional stuff in common with my husband too which sealed the deal.
So I would say, maybe send that letter still. I would take out the part about the hot tub and maybe shorten the introductory part - just cut to the chase about how you are moving to town, jobs at the university, and love their house. Who knows maybe it will make a difference. Fingers crossed!
So I would say, maybe send that letter still. I would take out the part about the hot tub and maybe shorten the introductory part - just cut to the chase about how you are moving to town, jobs at the university, and love their house. Who knows maybe it will make a difference. Fingers crossed!
Skippy123
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firebirdgold
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Well, I''m starting to come out of nervous wreck mode.
We did not have the highest offer but they still liked our offer better and would prefer to work with us. They are countering with keeping the price at the asking price (our offer) and instead being able to stay in the house after closing rent free.
The idea seriously freaked me and dh out at first but we realized it''s just the same thing as paying a few thousand extra for the house and then them paying us rent back. So our realtor is getting the specifics of what they want right now and will send it to us. He says he has an occupancy form that is very enforcable that will make sure they leave the house in the proper condition. Which is all we really care about since we can''t move there until August anyway. (I''d been leaving cushion of time for remodeling but this house is move-in ready.)
We were hoping not to have them rent but to instead extend the closing or have a flexible closing date but they want the money in hand to shop for a condo. It sounds like this is the only way we''re going to get the house.
Our realtor was pushing for us to sign the paperwork right away and fax it back, but I told him we just couldn''t do that. I''m just not comfortable signing it w/o DH and we need to check the wording and everything else out. If that loses us the house than so be it.
Sooo... Long story short... it sounds like we''re going to get the house but it''s not a done deal yet!
We did not have the highest offer but they still liked our offer better and would prefer to work with us. They are countering with keeping the price at the asking price (our offer) and instead being able to stay in the house after closing rent free.
The idea seriously freaked me and dh out at first but we realized it''s just the same thing as paying a few thousand extra for the house and then them paying us rent back. So our realtor is getting the specifics of what they want right now and will send it to us. He says he has an occupancy form that is very enforcable that will make sure they leave the house in the proper condition. Which is all we really care about since we can''t move there until August anyway. (I''d been leaving cushion of time for remodeling but this house is move-in ready.)
We were hoping not to have them rent but to instead extend the closing or have a flexible closing date but they want the money in hand to shop for a condo. It sounds like this is the only way we''re going to get the house.
Our realtor was pushing for us to sign the paperwork right away and fax it back, but I told him we just couldn''t do that. I''m just not comfortable signing it w/o DH and we need to check the wording and everything else out. If that loses us the house than so be it.
Sooo... Long story short... it sounds like we''re going to get the house but it''s not a done deal yet!
Skippy123
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firebirdgold
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Unfortunately, no. He has a really long commute to work and can not recieve or send faxes from work since he's behind the fence. Even if he could he wouldn't ever have personal stuff sent to work.. especially "I'm buying a home in another state oh did I forget to tell you I'm quitting?" personal stuff!
So just a little bit longer on the finger crossing everybody! It seems to be working!!
Skippy123
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Regular Guy
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We too, when selling our house recently, found it helpful for the transition to be able to close first, and rent back for about 2 weeks, and the people who bought our house did this. We paid market rent for this opportunity, but having the option to do this was helpful to us.
Making the transition work between is a project. Good luck with yours. And, yes, sounds like you''re being appropriately cautious. If you can see your way to doing it, I''d recommend it. Until you get with your partner, make sure your seller knows why you''re waiting (to communicate with your partner) if this will help (why not?).
Good luck!
Making the transition work between is a project. Good luck with yours. And, yes, sounds like you''re being appropriately cautious. If you can see your way to doing it, I''d recommend it. Until you get with your partner, make sure your seller knows why you''re waiting (to communicate with your partner) if this will help (why not?).
Good luck!
Kaleigh
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Indie, how exciting--it sounds like it's all coming together for you!
As for the "close and then rent back" deal, that's actually rather common (except in this case it sounds like the sellers want to stay on and pay zero in rent--or maybe I'm misreading that). The thing that you need to have your attorney write in (if it's not already in the document that your agent has suggested to you) is that $ will be held in escrow so that once the sellers move out you have an opportunity to inspect the property and ensure it was in the same condition as when you wrote the contract. There's nothing worse than a bunch of banged up walls from the movers or something breaking during the rental period and not having any $ held back to take care of it.
And I think you're really wise to wait unitl your DH gets home and you both have a chance to thoughtfully review the documents before you sign them.
As for the "close and then rent back" deal, that's actually rather common (except in this case it sounds like the sellers want to stay on and pay zero in rent--or maybe I'm misreading that). The thing that you need to have your attorney write in (if it's not already in the document that your agent has suggested to you) is that $ will be held in escrow so that once the sellers move out you have an opportunity to inspect the property and ensure it was in the same condition as when you wrote the contract. There's nothing worse than a bunch of banged up walls from the movers or something breaking during the rental period and not having any $ held back to take care of it.
And I think you're really wise to wait unitl your DH gets home and you both have a chance to thoughtfully review the documents before you sign them.
firebirdgold
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Skippy123
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firebirdgold
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firebirdgold
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firebirdgold
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firebirdgold
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firebirdgold
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Regular Guy
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Kaleigh
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widget
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iheartscience
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Blenheim
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Skippy123
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Oh my gosh, I didn''t get it until you explained 2of2things. I am such a dork.Date: 5/2/2007 11:10:57 PM
Author: thing2of2
Hahaha! You''re bad, Regular Guy-don''t pick on poor IndieJones'' faceless MIL!
IndieJones, the house is gorgeous. I mean, all the wood, those big windows, that yard...can you say DREAM HOUSE?!! It looks so contemporary and bright! Wow...Congratulations!
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Engagement Ring Trends 2025: Styles Set to Shine
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