battlemaiden Posted April 26, 2008 Share Posted April 26, 2008 We have the first offer on our home in VA. We just recently had to lower the price because the comps in the neighborhood were dropping. It's a great house in great condition but as most of us realized the market stinks right now. We aren't expecting a profit in this market, but we would like not to lose money either. My realtor didn't leave details in the message and she mentioned it wasn't a particularly good contract, but they are expecting a counter. I confess, this is soooo my dh's department. He loves negotiating....me? Not. so. much. It is typical that our first offer would come in when he is at sea. :glare: I would appreciate any prayers you could offer on my behalf. I would love to let loose of this house, but I don't want to be foolish. Thanks. Jo Quote Link to comment Share on other sites More sharing options...
LibraryLover Posted April 26, 2008 Share Posted April 26, 2008 The buyers of our home offerred us nearly 70k less than we were asking. I was about to take the house off the market, but my realtor pushed us to counter-offer. Which we did. The selling price was was within 5k of our initial asking price. The buyers were hoping, which is fine, but there was no way we could accept something like that. Quote Link to comment Share on other sites More sharing options...
Twinmom Posted April 26, 2008 Share Posted April 26, 2008 Don't be surprised if your first offer is pretty low. First offers usually are! The buyers are as aware of the economy as you are, and are probably fishing to see if you are one of those who are desperate to get out of their home! Don't act desperate! ;) Reject the first offer, counter high (but not TOO high...give a little), and act like your house is worth something. You'll get a better price that way. Even if your first offer goes away on counter, don't freak out! Unless you are really in a desperate situation, remember that people will be doing some fishing in this economy, so it's worth it to hang on just a bit longer to get a decent price if you are able to do so. We countered two offers on our house (first was $50K below asking, the second was $40K below!) and both buyers disappeared. Third offer came in, we negotiated up to within 5K of what we wanted and got it! They were serious about our house, so negotiation could be done. Of course, the house we purchased next we got for 50K off asking price...somebody bit at our first lowball offer! (Don't be that guy unless you have to be!!!) Prayers headed your way, and hang in there! Quote Link to comment Share on other sites More sharing options...
battlemaiden Posted April 26, 2008 Author Share Posted April 26, 2008 Thank you both. I am encouraged. I haven't heard from the realtor- we are six hours behind-- she will probably call me at 3am! We have two more showings tomorrow, so she hopes this will breed a competitive offer from one of the new buyers. Oh please!! Thanks again for your words of experience and wisdom. Jo Quote Link to comment Share on other sites More sharing options...
Denise in IN Posted April 26, 2008 Share Posted April 26, 2008 Praying for wisdom for you and quick sale of your house! Quote Link to comment Share on other sites More sharing options...
Basketmaker Amy Posted April 26, 2008 Share Posted April 26, 2008 Praying here, too! Quote Link to comment Share on other sites More sharing options...
Halftime Hope Posted April 26, 2008 Share Posted April 26, 2008 This is still April, and there are several months of summer still left to sell. Ask your realtor to give you the skinny on timing from her experience. So, while from your perspective, this game may be in ghastly OT already (the bad news), from another perspective, the market should get livelier on into the summer (the good news). Hang in there!:grouphug: Quote Link to comment Share on other sites More sharing options...
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