Offer - Counter - Counter...
By Lifeadventures on January 09, 2013
Okay, so we found a house on Sunday that we really like. I mean REALLY like. It checks a lot of our boxes. It is on a cul-de-sac, no houses behind it, it has a two car garage with a bump out, a mud room, a den, a loft, a garden tub in the master bath and a double sink, laundry room is upstairs, the list goes on and on. So we decided to make an offer on it, scary and exciting at the same time.
Problem...Of course nothing is ever easy, especially when buying a house. So what is the problem? We looked at the comps. Uh oh....do you see where I am going with this? Their list price is way over what it comps out to be. We figure we will go in with an offer anyways and see where we will get. If we don't try then we will never know.
First offer was made on Sunday night and sent off to their Realtor. They had until Tuesday at noon to respond. We hear nothing back by Monday night. Come Tuesday morning I am assuming that they have decided not to respond to our offer. Lo and behold at 11:00 a.m. our Realtor has an offer for us. They countered! Woo hoo, we have some movement. They went down by $5,000.00, we still have a ways to go but I am excited.
The Husband and I discuss and we decide to counter back, we move up $4,000.00. We sign the offer and send back to our Realtor. He says that he will send it in the early afternoon, they have until Friday at 9:00 a.m. to respond, so the waiting begins.
Our Realtor responds today, he has sent the offer in and their Realtor has received it.
The Problem: The seller's Realtor is having a hard time convincing them that their house is not worth what they have listed it for. Our Realtor responds and tries to explain. Comps are e-mailed and appraisals explained. Not that this Realtor does not know what they are doing but to present to their client.
You see, which many of you may know, if the house is not appraised for what the accepted offer is, then you have a HUGE problem. #1. The bank will not approve your loan and #2. You are not out the money you spent on inspections and an appraisal. Who wants to lose this kind of money? Certainly not me!
So now we sit and wait...and wait some more...
As much as I love the house, I realize that it just might not happen. That is okay because I know that when the time is right, we will find that perfect house for us.
So keep blogging and adventuring my friends and I will keep you updated on the status of our house hunt.
Until next time!
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