So we got our first offer...

and it's 10 thousand dollars less than we're asking. We said that we're very firm. I have two other people that are very serious about out co-op...what should I do???

Re: So we got our first offer...

Re: So we got our first offer...

I don't think that 10K is too off from your asking price. Why don't you counter and meet in the middle?

Re: So we got our first offer...

congratulations!!
i'd stay firm in your price.....
that's what we're doing, at least

Re: So we got our first offer...

IMO, like i said to Palebride, i would hold out a little...
We got an offer for 10K less than we wanted and my gut said to wait.....we waited and got our price!

10K is a LOT of money. And if you feel that your condo is worth it....

Spring is on the horzion....the home buyers will be out and about!

Re: So we got our first offer...

I wouldnt ignore their bid. I would counter offer $5000 higher and take it from there.

Wow I agree with Rich again. I better make that Doctors appointment. May be something wrong with me
Scott

Re: So we got our first offer...

it doesnt sound like you are "anxious to sell". did you find a place you will be moving to yet?

if not, i would hold off and tell them again that you are firm... if they like it enough, it might be worth the extra 10k - besides, i think the price for your place (seeing the pics) is priced REALLY good. i wouldnt budge unless i needed to get out or sell immediately.

JMO

Re: So we got our first offer...

Also very important to get a copy of the pre-approval and even if you accept an offer, continue to show. I had 3 - yes 3 - "serious" sales fall through on my co-op. I wound up raising the price each time and getting about 30K more than originally listed...but that was in 2004 when they were selling like hotcakes.

So I would counteroffer, and continue to show -

Re: So we got our first offer...

No, we don't have a house to move into yet...we're still looking.

These people said that they're willing to move as quickly or as slowly as we'd like...it's up to us...which is nice. I e-mailed them this morning and told them that we're staying firm on our original offer. I also wrote that I thought we listed the co-op a bit low in the first place so that's why I'm staying firm.

Re: So we got our first offer...

If your co-op board is very strict like ours was, it might be worth it to try to work out a price if they are the ideal canidates to be approved.

It was nightmare to sell our coop becuase the board was practically impossible to get through, we had plenty of bids, but getting the right people was key.

Re: So we got our first offer...

Our co-op board is not that strict...these people are both hard-workers and have already been pre-approved for several mortages. They live at home with their parents and have been saving.

Re: So we got our first offer...

good luck!
we're staying firm on our current offer - so i know what you're going through!

Re: So we got our first offer...

Stay firm!! BTW love Jareds do LOL

Re: So we got our first offer...

If it's a fair price, I think you can stay firm.

But I would also consider, what if this feel through and you didn't sell for another 3 months? Could you live with that decision?

We lowered our asking price on our condo quite a bit and told people we were firm and we didn't budge until our realtor found someone that bid $5K less, but she said since she would do both ends of the transaction she would lowere her percentage a point and it was only $1K less


good luck, I know its stressful selling!

Re: So we got our first offer...

Re: So we got our first offer...

I don't know what you have to do for the co-op but when we sold our condo we had them fill out a page we made up for an "offical" offer. Then, when we verbally accepted the offer we contacted our attorney, and the buyer contacted hers, so that they could get the contract moving. The buyer also set up an inspection. The lawyers took it from there. Let me know if you want to see our offer page.

Re: So we got our first offer...

Sure I'd love to see your offer page...if you don't mind.

Re: So we got our first offer...

Posted by Stefanie


Okay, so I e-mailed them and said the we're not accepting the offer. They e-mailed us back and want to meet with us to see the apartment again and talk with us.

Re: So we got our first offer...

Well he offered a higher price but we're still not sure...he went up 6 thousand. We still have other people coming to see it, so we're holding off for a while...

Re: So we got our first offer...

Re: So we got our first offer...

Also... in the end with my co-op sale... check out what I did.

I was willing to take anything over 240k. So I listed at 279k.

I had an offer from a senior citizen couple FSBO for 260k.

I had an initial offer through a very trusted realtor for 250k. I didn't list with any agent... but I let a couple of agents show it as an open listing.

I told the realtor about my FSBO offer and after four counter-offers got the agent's client up to 267k. Her commission was 4% so in the end it was about 257k.


I decided to take the agent's deal... which in the end for me was 3k less than the senior citizen's couple. I felt the agent's deal was the "stronger offer"... and the offer I felt would close quicker since the agent had connections with my board... I also felt that the buyer and agent were very serious.

The opportunity to make an extra 3k wasn't worth it to me in the end.

Re: So we got our first offer...

Thank you everyone for your advice...

Re: So we got our first offer...

Re: So we got our first offer...

I know...it's very tempting...maybe we can meet somewhere in the middle...

Re: So we got our first offer...

try to hint around that there are other people interested and perhaps that will give them the push to go up a bit in their offer!

i probably shouldnt' say this - but we paid exactly what our co-op was being sold for when we bought it! we thought it was a fair price and knew it was perfect for us, so we didnt' wantto play any games.

good luck!