House Offer-non-update

[Pom]

These chucklefucks.

So we've been hearing for DAYS about this offer coming.  They love the house. It's perfect. No complaints about it. 

Realtor says "I know you are going to be upset, but here it is....

a. $35k off list price.  

b.  A June Close. WHAT?  

c.  They want our brand new porch furniture (no) and 2 year old French Door Fridge

d. $4k closing costs.

I think someone has been watching too many House Hunters episodes.

Update Monday night 3/7:

I finally texted the realtor.  The counter was not presented until this evening. They were not reachable because one of the buyers was in the hospital   I responded that it sounds like that have bigger issues than buying a house.  Apparently, he is being released this evening and we should hear something by noon tomorrow.   I told them not to rush, since I felt like a jerk.


 

[Balki.Bartokomous]

I'd still counter with a reasonable offer. They might be crazy or they might be testing you. If they love it, they might accept.

[jerseyjaybird]

I think you're correct on the House Hunters bit.

[WOUNDTIGHT]

Mar 4, 2016 10:35:23 GMT -5 Pom said:

These chucklefucks.

So we've been hearing for DAYS about this offer coming.  They love the house. It's perfect. No complaints about it. 

Realtor says "I know you are going to be upset, but here it is....

a. $35k off list price.  

b.  A June Close. WHAT?  

c.  They want our brand new porch furniture (no) and 2 year old French Door Fridge

d. $4k closing costs.

I think someone has been watching too many House Hunters episodes.


 

Ok, that's fairly rage-inducing.

BUT- deep breaths. Business transaction. Counter offer!!

If 35k is between 5%-8% of the offer price, then I'd say it might be a reasonable offer (depending on the market), which is just a jumping off point to start negotiations (TM Cher Horwitz).

Where I live, leaving the large appliances (fridge, dishwasher, stove, etc.) is standard. I'd be really surprised if the fridge wasn't included with a house I was buying. 

HOWEVER: L-O-FUCKING-L at asking for the new porch furniture!! Hard pass.

A 90 day close is a fairly long close, I'd counter back with 30 and plan on settling at 60.

For the closing costs: I'd offer what they want, but also readjust your price (i.e. if you were willing to sell for $390k, then just offer the $4k close but now the home will cost them $394k.)  

Good luck!

[lys]

It is business - not personal.
35K - off -- well, depends on the asking price and the market --- most importantly the market. What are the current comps?
June close? We purchased our current home with a delayed 3 month closing (seller's request - moving out of state) which we did. Then we sold our house and did a rent back from new owner for the remainder waiting period.
It does not hurt to ask for the moon in a negotiation.
Appliances go with the house in our area.
Window treatments and anothing attached to the home goes with unless stated in the listing.
Sell them the outdoor furniture at cost - and then buy a replacement.
closing costs - we have not seen seller paying closing costs in this area for several years.

How quickly do you want your house sold and how is the market for selling? Many house viewings? Etc.

Breathe -- this too shall pass.
You are in an enviable position with your current change of location and the deal on your new home with employer paying for many costs. Be willing to work with buyers to the extent you feel is reasonable.

[hamster]

I'd probably give them the fridge given that you've moved so far away and it's just one more thing to haul. No way to the patio furniture! (Though our buyers requested our POS dog house, rain chain, and curtains, which they all got).

[Pom]

Oh we are countering, but I have no idea if they will walk. I think they will try to negotiate us to death...see first offer. Maybe we should say final on this counter, we are still deciding.

A house in our neighborhood just sold $3 more per square foot then we are asking. It is not on a water lot (ours is, which are premium lots adding $30k, ours has a 3 year old in ground, gunite pool (no pool there), both are turn key. We've had all painting, staining completed in the fall of 2015, new Trex deck, new screened in porch. If we lowered to their offer, we'd be $18/ square foot under that recent comp.

It is business, but let's be real. We have comps to support our price.

[juliej]

When someone did this to us while we were selling our first house, we counted back at asking, no closing costs, etc. Basically, "We'll entertain serious offers. Try again." They got the picture and ended up getting the house for only about 2% less than asking

[shopgirl07]

How long has your house been on the market?

[moolarkey]

Appliances almost always are included in home sales here although we've seen some where they are listed as appliances not included or appliances available for $xxxx. On the porch furniture, I wouldn't include it but if you are interseted you could counter with porch furniture available for $xxx. If you are willing to come down on the price I'd come down some - 5k or 3% or something.

[Pom]

Mar 4, 2016 11:49:02 GMT -5 shopgirl07 said:

How long has your house been on the market?

15 days.

[Pom]

Mar 4, 2016 12:08:22 GMT -5 @rennido said:

One time my friend completely low-balled someone, they came back with an offer more than the asking price. We just looked at him and said "Told you that was a bad idea"

Lolz. Get out of here with that shit house looker.

How is your market in your area? Buyers or Sellers?

Houses don't sit on the market long. It's not a "hot" market but we are in a neighborhood outside of the metro area. It takes longer but strong market. There is another house for sale out there but it's trashed. We've had other showings...one set didn't want an HOA, one was looking for something $100k less. Others appointments possibly we don't know about. We expect that more serious buyers will be coming around spring break. That's big shopping season according to 3 different REA we spoke to. I don't think this is our last offer. Eta: I think these people really want our house?!? So that offer is a mystery. I do know there was a house they didn't get before ours. I guess we know why. That said apparently they think our house is perfect for them but want us to give it all to them.

[elcjet]

Oh, I love buyers.  

We had a similar experience.....we decided that the mounted televisions and surround sound systems they wanted were fine, they could have them, but we countered them just below list price and explained to them that the house had plenty of activity and it wasn't lost on us that come April, it would sell in a day at the price we wanted and we were prepared to wait for it.

That's actually an offer I would counter.  You already know they want it -- they just want to test you to see if you are desperate.  I'd love to know how the rest of your negotiations go.....they could be your buyer.

[imojoebunny]

It is just business. I would like to buy a house for $35K less than asking, too, but it isn't happening around here. Do they have any valid justification for their price or do they just "feel it"? I would just counter with what your really want, based on rational comps, and maybe include a note about where they can purchase porch furniture, rather than finance it over 30 years

[WOUNDTIGHT]

Mar 4, 2016 11:17:41 GMT -5 Pom said:

Oh we are countering, but I have no idea if they will walk. I think they will try to negotiate us to death...see first offer. Maybe we should say final on this counter, we are still deciding.

A house in our neighborhood just sold $3 more per square foot then we are asking. It is not on a water lot (ours is, which are premium lots adding $30k, ours has a 3 year old in ground, gunite pool (no pool there), both are turn key. We've had all painting, staining completed in the fall of 2015, new Trex deck, new screened in porch. If we lowered to their offer, we'd be $18/ square foot under that recent comp.

It is business, but let's be real. We have comps to support our price.

Wait a second. This sounds like your house is underpriced! And if that's the case, the correct, business-minded response is to go tell them to pound sand.

If your house has the premium lot, new pool, deck, porch, etc. .. why are you priced below the comp?

[Pom]

Mar 4, 2016 13:54:52 GMT -5 WOUNDTIGHT said:

Mar 4, 2016 11:17:41 GMT -5 Pom said:

Oh we are countering, but I have no idea if they will walk. I think they will try to negotiate us to death...see first offer. Maybe we should say final on this counter, we are still deciding.

A house in our neighborhood just sold $3 more per square foot then we are asking. It is not on a water lot (ours is, which are premium lots adding $30k, ours has a 3 year old in ground, gunite pool (no pool there), both are turn key. We've had all painting, staining completed in the fall of 2015, new Trex deck, new screened in porch. If we lowered to their offer, we'd be $18/ square foot under that recent comp.

It is business, but let's be real. We have comps to support our price.

Wait a second. This sounds like your house is underpriced! And if that's the case, the correct, business-minded response is to go tell them to pound sand.

If your house has the premium lot, new pool, deck, porch, etc. .. why are you priced below the comp?

The other house is a little smaller square footage wise and a couple years newer.  We priced where we felt we could easily make appraisal and it would sell.  Pricing higher would make our house one of the highest ever to sell in the area, so we wanted to be competitive.  

[UnderProtest]

We got a low ball offer when we put our house on the market. Our real estate agent was amazing and told us to counter quite aggressively. It worked out in the end. I think their final counter was to match our price but they wanted our porch furniture. You know our 8 year old Walmart rocking chairs. We took it and ran!

Good luck!

[Pom]

Mar 4, 2016 14:27:47 GMT -5 UnderProtest said:

We got a low ball offer when we put our house on the market. Our real estate agent was amazing and told us to counter quite aggressively. It worked out in the end. I think their final counter was to match our price but they wanted our porch furniture. You know our 8 year old Walmart rocking chairs. We took it and ran!

Good luck!

Marvelous! Good for you.  I'll keep the faith then, LOL.

[krisim]

We received a very similar first offer on our home when it had been on the market for less than a week! We countered with nearly our asking price as we were very competitively priced and we never heard back from them. We think that our house was quite a bit above their range and were just low-balling to see if they had a chance.

[cuadrado]

Buyers, man. They can be such assholes.

If you are already under-priced and have only been on the market for 15 days then I would counter with full asking price but give them the closing costs and fridge.

[bostonmichelle]

I would probably counter with asking price, $4k in closing costs, they can have the fridge, and no on the patio furniture. There is a reason they lost another house and that is they are way under bidding.

[thatgirl2478]

Wow, yeah, that's a pretty crappy offer.

I would counter with full price, SOME closing costs and the fridge. Point out that you're already under market price.

[aurora]

Mar 4, 2016 11:17:41 GMT -5 Pom said:

...
It is business, but let's be real. We have comps to support our price.

I don't think people say "it's business" to imply you should give in to whatever the buyer wants, but rather to take emotion out of your counter. It sounds like you have comps to back up your price, which means you have every right to counter at or near asking. Just because they were trying to get a deal doesn't mean you have to agree.

Signed,
Bought last house at $40k below asking, knowing the sellers would only agree if they wanted to sell the house for that price

[AAM2012]

I alway laugh at the "it's business and not personal..." Because I've been on both sides a few times and, unless you are the realtor it always is personal.


If you can't get it done within 3 transactions (I.e an offer, counter and acceptance) it likely won't get done and isn't worth the offer (per our last realtor.)


If you have comps to support your ask then I wouldn't budge much.

[carrotsmakemefat]

I'd either
1. Counter back closer to asking (if not right below) 60 day close, and give them the furniture. All or half of closing costs
2. Give them the option for more off, but 30 day close, and no extras/furniture. No closing

If they don't get it and walk then it seems like you'll get another buyer quickly. (Knock on wood)

[awick14]

As your house hasn't been on the market long, and it is below market value I would counter at a full price offer, give them the stove (edit: by stove I mean fridge) and do a 60day close.

FWIW we offered $50k less then offering, listed for $340k, we offered $290k, we ended up buying it for $305k. BUT it had been on the market for over a year without a single offer. We walked away from the house at first because price didn't meet the value of the property. (In our minds) Our Realestate agent told us to make an offer if we liked the place, so we did to humor her more then anything. (We liked the place but didn't think they would come down that much in price.) It was worth it to us.

[4speedy]

When I sold my house, I got an offer like that.  Waaaaaaaay under asking, long escrow period and asked for all kinds "extras."  I countered with $1k under asking, 30 day closing and nothing else.  They took it.  My feeling is that if they are asking for your porch furniture, they are already picturing their lives in your home.  They are hooked.  And if they bothered to look at your house in the first place, then it must be at least near their price range.  Their realtor must think they can afford closer to list price or why would she bother showing it.

in my case, they people who bought my house made an asshole first offer and they in fact, did turn out to be assholes.  At least the husband was.  I was selling my home that was mine before marriage and the husband treated my like I was just some poor dumb woman who didn't know any better.  He made a lot of unreasonable requests, like "give me 12 months worth of heating bills and I need them by the end of the day," when I was out of town on a business trip and in meetings all day.  I laughed.  What was he gonna do?  Walk away from the deal and leave me with the earnest money if he didn't get my bills that day.

 So when I returned, I gladly gave home 12 months worth of bills.  Didn't tell him the house had been empty for 6 months before I listed it because DH and I had toyed with the idea of renting it out.  My 1912 bungalow was a heat sink and the thermostat had been set on 58 degrees all winter so the heat bills were less than half of their normally outrageous amount.  I'm sure that came as a shock to him when they moved in and actually wanted to be warm in the winter.  But I gave him exactly what he wanted.  There were requests like this every couple of days.

so what I'm saying is, you can probably get pretty close to what you want out of this deal but be prepared for lots of unreasonable requests because they are showing you who they are.

[scout8]

Don't get emotional about it. Often buyers are just testing the sellers to start. Make a small counter to try to keep things going because people don't like to negotiate against themselves. It will either come together or it won't. If it does, great. If it doesn't, you haven't lost anything. Keep showing it in the meantime and hope for another offer. That's the best when you get to tell low offer buyer that they are now in a multiple offer situation.

[dirtyred]

Or you could just decline the offer and not counter.  That would also send a message, and they might come back with a more reasonable offer.  If they're serious, they'll reconsider and start off at a more reasonable place.

When I sold my house, there were offers that I just flat turned down.  A couple of people reoffered; others who were just looking for a bargain didn't.

[kme]

At first I was like "hey that's not all that bad. Just counter." But after reading f/u's you def have the upper hand in the negotiation.

They know this is a great property which is why they're asking for a 3 month close. It has recent updates and undervalued which makes it a great deal.

Make them remember it's only been on the market for 15 days and you're willing to wait. Since it's already under market, I would counter full price. Give them the fridge (very common that all appliances come with) and their closing costs. I personally would do a 3 month close but that depends on you situation. Furniture? You'll up the price or they can buy outright.