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* Help! - Rejected, but NOT out bidded and now only 4k off from list price. what to do!!!

..ok.

list price was 179,000, we bid 163,000 w/ 3% closing cost, he countered w/ 172,00 and 1,5% and we recountered w/ 168,000 w/ 3% (and if that was countered back we would try same price and 2% or 169 and 3%)

Our counter was rejected (no other offers) and now the new list price is 172,00 (only 4k above our offer) Here is the reason why I don't want to go up the extra 4k. I really don't think it will appraise at the price, the comps don't show the house at that price, but then again there are no recent sales in the area and the houses are not completely cookie cutter so it's hard to to comp the house.

I don't want to do home inspection and appraisal at my cost just to have the guy refuse to come down once the appraisal come in and we are doing FHA so we have to hit the appraisal.

I plan on seeing some more houses this week (just found two on the market today) but they are not as "good" as far as i can tell online as the house I like. I think I will preview a few more houses and then try my offer again in a week.

Is a week too early? We have that 8k dead line...don't want to wait too long.

what do ya''ll think, if it was you what would you do?

image image
Max 4-08-08 and Michael 2-03-91 (19 years olds)
image Both boys were born w/ hirschsprung's disease, you find yourself facing this dx, please feel free to ask me any questions.

Re: * Help! - Rejected, but NOT out bidded and now only 4k off from list price. what to do!!!

  • Do you have a realtor?  Our realtor was really good at giving us advice on the appraisal and what the house was probably worth because we really had no idea about that type of thing.  4K is really nothing, it's like $20 a month more or something.  If it's "THE" house I would go for it.  But I know FHA is specific, we went through it as well.  That's why i was wondering what your realtor had to say.
  • Is 3% what you expect your closing costs to be?  If they might be a little higher, could you ask for all of your closing at a price of $170k?  Maybe he's just having a really hard time emotionally getting past seeing a number in the $160ks.  I don't think it hurts to try the same offer again in a week.  The fact that the credit is going away soon is probably also on his radar so the closer it gets and he doesn't have another offer, he's more likely to accept yours.
  • Yeah, we have a realtor and he was the one who clued me in about how nothing in teh area as sold so the the comps were hard to do when he gave us an idea of what to bid. He says that the listing REA also agrees that the guys  home would not appraise at the 172k, but what can he do th eman is old and does not want to lower the price

    He does not live in the house, has several houses in the tampa bay area, told his listing agent aww I should not even be listing the house, I could just rent it out.. but then he lowered the listing price today to 172k ( guess seeing what kind of bites he could get)

    The old man is like 72 yrs old and I think this was one the house HE lived in and is not just a investment home, and it looks like they put in work around teh house (minus the cheap azz  kitchen - not a problem w/ me)  so he just does not want to sell for lower than what he thinks it's worth...

    who know.. I just can't help feeling like this one is not down and out just yet.

    and like I said I don't want to waste time and money just to have the deal break down just a wk before the 8k credit contract dead line is up... maybe we will like the other hoses I am hoping to see in the next couple of days...

    maybe the market will tank again after the 8k is up... maybe ppl will continue to go down in price.

    awww so close yet soo far away 

     

    image image
    Max 4-08-08 and Michael 2-03-91 (19 years olds)
    image Both boys were born w/ hirschsprung's disease, you find yourself facing this dx, please feel free to ask me any questions.
  • If you want....email me info on the house (and the address) and I can have my hubby use the appraisal tool Bank of America uses for prelimary approvals and I will have it run it through the system for you.  Send it to Kissyfur19 at aol

    If the appraisal was not an issue....are you willing to walk away from the house for 4K....or an extra $10 a month in your payments?   

    If it was the house I couldn't live without...I'd hate to lose it over 4K. 

     

  • Girl, you've got mail!!!! check your junk box, but I made the subject easy to spot and my addy is jlbunnyhoney at hotmail
    image image
    Max 4-08-08 and Michael 2-03-91 (19 years olds)
    image Both boys were born w/ hirschsprung's disease, you find yourself facing this dx, please feel free to ask me any questions.
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