Can I Get Some O' That Fabulous Dust, Please?

[texaskj]

More dust...................achoooooo!

 

[monarch64]

Gulp. We received a counter-offer today. Remember that this is a FSBO...he wants $3k less than his asking price...we offered MUCH less than that...at least he is willing to deal?

 

[monarch64]

<<<is freaking out and can't sleep!!!!

 

[iLander]

Monarch,

Look up the house on zillow.com. What does it say it's worth there? They use an algorithm that is very similar to what a bank appraiser will figure up, so check that out. Zillow doesn't take into account any upgrades/improvements, though.

I don't think I've ever gotten more than 7-10% off of an asking price on a house, myself. What % off is your offer?

he's being a bit silly at only $3K off, but he is saying you need to come up some. Don't sweat yet.

Is your offer contingent on the house passing inspection?

 

[House Cat]

What are the comps in the area, do they compare to his asking price or to your offer price? Why are you offering so much less than his asking price? Is he dreaming or are you?

Sometimes the private sellers have to suffer for a while before they will come down on their price.


And yes, my house search has been incredibly painful. Six months long, I just put in my 8th offer. Part of the problem is that we're using a VA loan in an area with 60 year old homes that are mostly bank owned. Then there are other issues as well, that I might share on another thread. It has definitely been an emotional rollercoaster ride!

Here is lots of dust that the private seller will see the light!! ***dust***

 

[dragonfly411]

DUST

 

[monarch64]

Monarch,

Look up the house on zillow.com. What does it say it's worth there? They use an algorithm that is very similar to what a bank appraiser will figure up, so check that out. Zillow doesn't take into account any upgrades/improvements, though.

I don't think I've ever gotten more than 7-10% off of an asking price on a house, myself. What % off is your offer?

he's being a bit silly at only $3K off, but he is saying you need to come up some. Don't sweat yet.

Is your offer contingent on the house passing inspection?

This house doesn't show up on zillow, and I've been told that zillow isn't always the most accurate resource (not to say that I think it's total b.s.)...we did find out that the house was purchased by his wife in 1997 for $50k less than his current asking price. The only upgrades they've done have been some minor flooring, i.e. bathroom tile, carpeting on the main floor, and kitchen flooring, as well as an overall interior paint job. Everything else is original, including the roof, heating/cooling, etc.

Comps in the neighborhood are NOT really reflective of his asking price. We are offering about $104/sq. foot if that gives you an idea, and our initial offer was 10% below his asking (which we knew was low). However, (and here is the wrench thrown in) another house we wanted to put an offer on did sell for close to his asking price, but it's an entirely different layout, has tons of upgrades, etc.

We countered this afternoon with a higher offer, but it wasn't much higher than our initial one, plus he is refusing to throw in the washer and dryer (which are older and not anything fabulous--think basic Kenmore) and doesn't want to offer what we're asking for in closing costs.

We'll see what he comes back with tomorrow (he has until Friday but he's been more of a 24 hour guy rather than 2 days)...we are ok with walking away at our final which would be closer to 8% less than his asking. The house is just not worth what he's asking to us, although it's nice and is in a great location.

I don't know if we made the offer contingent on the inspection but am assuming we did.

I really don't think we're dreaming...and I don't necessarily think HE is dreaming. I think he has a number in mind for whatever reason, and so do we, and if we can't meet somewhere that is feasible for both of us we'll walk and wait for something else to come up on the market (hopefully in that neighborhood). It would be disappointing not to end up with this house but not the end of the world, I guess.

 

[monarch64]

DUST

Thanks, DF!

And thank you to everyone else who has commented or sent dust, it's nice to come here and feel like a little good luck is coming our way. You are all fantastic!

 

[House Cat]

Dust on the new counter offer!!!

 

[monarch64]

Thanks again for all of the dust and positive thoughts! You are all amazing!

So, this house is a no. Seller came back with a counter-offer that we weren't happy with and we chose to walk away..we just weren't prepared to spend what he was asking and he refused to compromise on some other points. Ahhh...such is life!

We'll keep looking.

Thank you all so much for your feedback, dust, etc. It meant the absolute world to me. I doubt if I will ever ask for dust again, as I never have done so before, but it was worth a shot! I will keep giving out dust myself and thinking positive thoughts for those in need here. Love to you all!

 

[zoebartlett]

I'm sorry it didn't work out Monnie. There's a better house out there for you, I'm sure.

 

[Haven]

Hang in there, Monnie! DH and I walked away from a couple houses before we found *the* house. Like you, we weren't willing to spend more than what *we* thought a house was worth, and if the sellers weren't willing to come down, we walked.

We actually walked away from our house once, and then the sellers came back to us after some time (I can't remember how long) and that is how we ended up with the house. The same thing happened with another house--we walked and then their realtor contacted me directly (we go to the same synagogue but don't know each other, I thought this was really unprofessional and was unhappy that my synagogue gave her my phone number.) Anyway, she contacted me a couple months after we walked away from that house and said they would now be willing to accept our last offer. We were no longer interested, but it was interesting to see how a little bit of time changes people's minds!

We ended up putting in offers for FOUR homes before we found THE home, and now we say "Thank goodness none of those deals worked out." I bet you will be saying the same thing some day soon!

We bought our house for 87.5% of the asking price. But again, we were very patient, and I think it was a good deal for both sides. They were just asking too much. We paid $289 per square foot, which is less than what the average home here costs.

GOOD LUCK WITH THE CONTINUED HOUSE HUNT!

 

[lulu66]

sorry to hear that an agreement couldn't be reached. but it seems like you have a good attitude & i'm sure the "perfect" house for you all will reveal itself soon!! GOOD LUCK on all your future real estate endeavors!

 

[marcy]

Dust coming your way for finding the perfect house.

 

[swimmer]

Good luck in the continued hunt! You gotta kiss a couple of frogs...

 

[Missy]

Best of luck with your continued search. I am of the mind that if it is meant to be it will be so don't lose hope. That just wasn't the right home for you and your dh.

We are currently in the process of selling one home and buying another and it is for sure stressful. One inspection done with a list of things to now take care of and the inspection on the other house scheduled for next week. Even when you are in contract which we are for both homes so much can still go wrong. So I keep saying to myself if it is meant to be it will work out.

Lots of dust your way Monarch and hang in there! Your dream home is out there!