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Tabitha
Member since 2/07 2029 total posts
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OFFER price questions!
Has anyone lowered their offer after hearing the inspection report? If so, by how much, and what was the seller's reaction?
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Posted 2/10/07 11:43 AM  |
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Prudential Douglas Elliman Real Estate
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ali120206
2 Boys
Member since 7/06 17792 total posts
Name:
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Re: OFFER price questions!
Posted by Tabitha
Has anyone lowered their offer after hearing the inspection report? If so, by how much, and what was the seller's reaction?
We tried but, the owner wasn't willing to budge. We're working with a FSBO though and still getting a good deal so we decided that it was worth it.
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| Posted 2/10/07 11:47 AM |
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Tabitha
Member since 2/07 2029 total posts
Name:
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Re: OFFER price questions!
did the house need any money put into it after the inspection?
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| Posted 2/10/07 11:55 AM |
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ali120206
2 Boys
Member since 7/06 17792 total posts
Name:
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Re: OFFER price questions!
Posted by Tabitha
did the house need any money put into it after the inspection?
Yes, it is going to. The structure itself is sound but, there is mold in the basement and some termite damage in the garage.
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| Posted 2/10/07 12:20 PM |
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csorisi
My 2 LOVES
Member since 11/05 1984 total posts
Name:
Corinne
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Re: OFFER price questions!
Yes-after hearing the inspector's comments we negotiated with the seller. We found out that things were not as they were disclosed to us and we had bid based on what we were originally told. We said we wanted them to lower the price $10,000. They agreed to lowering it $5000 and upgrading the electric to 200amps. It ended up that they lowered the price $7,000.
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| Posted 2/10/07 12:23 PM |
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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
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Re: OFFER price questions!
We ended up walking away from the house, but the seller was willing to drop the price after the inspection came back. But then we decided to just drop it all together, without even starting negioations again.
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| Posted 2/10/07 3:52 PM |
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cjik
Welcome 2010!
Member since 2/06 8879 total posts
Name:
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Re: OFFER price questions!
We thought about it, but did not for a few reasons. The owners supposedly have another offer that was slightly higher than ours (though they had accepted ours first and kept it). Whether or not this is true, we'll never know, though enough people have mentioned it individually for us to think it is true.
The owner had an estimate done on the work that was needed previously, but had opted not to do it. We had a contractor come in and give us a quote on the job, and he gave us a similar quote. So between the two figures, we're pretty confident in the amount we'll need to spend, which isn't much.
The house needs very little immediate work other than this one issue, and since we loved the house, loved the neighborhood, we decided to leave our offer alone. We also need to move soon, so that is another incentive.
It depends how much needs to be done, how much you like the house, and what it's worth to you I think. If the owners don't have a higher offer than yours, you may want to try it though. Good luck!
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| Posted 2/12/07 8:33 AM |
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