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To just shut down negotiating before it even starts
But it did start. It started with your offer. He said no. Then negotiating stopped. Just because you want to negotiate doesn't mean the other person wants to negotiate. A one-way negotiation is still negotiating with a NO as the other person's way of negotiating.
I'm willing to forgot about the seller assist just never really got the chance to offer something else, that is what strange to me.
To just shut down negotiating before it even starts
For some people, and for some cultures, endless negotiation is a sport all on its own. When these people meet "No Nonsense" people, it can be very hard to bridge the gap.
Many Americans are not open to haggling as a pastime.
It didn't sound like a full offer when you asked for closing costs.
I am about to purchase a new home in the Dallas area and there was a house we liked that we put an offer in at 96% and did not ask for any discounts. The sellers agent said they thought it was too low and expected to get full price on the offer. We walked away from that house because there were other homes we were more interested in. That house ended up staying listed for 1 1/2 more weeks before it showed it was under contract so I assume they eventually got their full offer.
Some oweners think that can get full price and they can. It really depends on how desireable the house is given it is listed right and everything. So the person selling that home may feel that they should get 100%.
Also, yes there are some people with unreasonable price points too.
Yeah thanks for your Comments. My original offer was only a starting point. It doesnt mean that i cant offer full price without seller assist. I prefer to close the deal and get the sale. Maybe they want to wait on the market till they get thier number and that their choice. I still think it better to counter with your number then make a deal but that just my opinion.
Location: Formerly Pleasanton Ca, now in Marietta Ga
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One thing others may not know is how crazy the market is here and how much higher homes cost than where they are at. If you are from Texas and a house is $200K, then 4% is asking for $8,000 off.
In Palo Alto it is extremely common for homes to be in the 1-2 million range. If it's 1.5 million the buyer is asking the seller to give up $60,000. That's a lot.
Combine that with the fact that we are seeing many homes sell for 110 to 130% of asking with extremely well qualified buyers, ( cash or 30-50% down payments) and you can see that it's quite possible the buyer is out of his league and not even close. All he can do is submit a new offer and continue to do so until he gets the house or someone else buys it. I would not want to be a buyer in today's market
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Was that your entire offer, or did you have contingencies? Financing? Sale of current house? Home inspections? Unusual move out dates? Repairs or changes? Other demands?
It might not have even been your price offer that got rejected. It might have been something else.
Personally, if I get an offer with seller assist, it looks to me like the buyer can't afford the house and I would expect it to be a real hassle to get it closed.
I just got a full price offer from a couple that had a sales contingency and hadn't even listed their house yet. Gee, no thanks. For all I know, they are now going around complaining because I was so unreasonable and rejected their full price offer. But price isn't everything. So, OP, what else was in your offer?
Yeah thanks for your Comments. My original offer was only a starting point. It doesnt mean that i cant offer full price without seller assist. I prefer to close the deal and get the sale. Maybe they want to wait on the market till they get thier number and that their choice. I still think it better to counter with your number then make a deal but that just my opinion.
What would they have countered with if they were not willing offer anything?
Maybe the seller priced it low, hence why your pseudo-full-price offer was so easy for you to make. However, the seller may have listed it low so they'd have a quick sell. If they want a quick sell, they want assurances that it WILL sell. Asking for seller assist is not a good sign. There are MANY reasons that your loan could be denied.
Regardless of the numbers, some Sellers simply don't like the idea of kicking in money towards the Purchaser's closing costs. If you'd offered 4% under list price--with no closing costs--their reaction might have been different. Who knows?
For some people, and for some cultures, endless negotiation is a sport all on its own. When these people meet "No Nonsense" people, it can be very hard to bridge the gap.
Many Americans are not open to haggling as a pastime.
In the greater boston area, you don't even stand a chance if you offer a cent lower than asking. Everything is going - sometimes 10-15% - above asking. Seems like the strategy in this market is to list it low & get buyers into a bidding war frenzy.
I agree with some of the posters that the healing has just started & the foundations aren't still that strong to keep this recovery going. Having said that going by the trends in boston - which is a mirror for some of the other regions in the country - & the feds no-interest-raise-till-2015 decision is likely to fuel another asset bubble.
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