House negotiations: final offer

September 9, 2010 at 2:24 pm | Posted in Uncategorized | 1 Comment
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Yesterday we went back and forth with the bank (who is selling the house) with some offers and counteroffers. There were four volleys yesterday, and this afternoon we got their response. It’s getting exciting, because the difference between our offer and their counter is less than 5K. So our realtor suggested we counter and say, “This is our final offer.” Eep! I know it’s a small difference in amounts now and if they decided to be jerks then we’d walk away, but it still makes me nervous to say that it’s final. But I’m sure everything will be fine. And if not, then walking away is okay too. It just makes me nervous!

It's go time.

It's go time.

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  1. This is very interesting to me. I have talked to people that have tried to buy houses from banks and also read several articles on doing it. Most of them lead me to conclude that…banks are able to take the emotion out of the equation (unlike a normal seller usually can’t) and, because of this they usually sit on their properties much longer than the general market. So I will be curious to hear the outcome.
    Something my mom told me when I was young, and didn’t want to hear at the time was, don’t ever feel like you must take a good deal because there will always be a better one come around. For the most part she has been right on this. I know you have looked quite a bit and are pretty well settled that this is what you want, but think of it in the most negative terms. What is the worst case scenario if you say “final offer” and they say no? If it only means maybe having to rent for 6 months, maybe that will give you time to learn about the area better and maybe even find a better deal. It’s your call, but I do want my daughter in law and son to be happy.

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