I put an offer in on a house on Sat. Agent called me today & said “the owner rejected your offer & did not countersign, we have other interest parties”.
I said I wanted a 2nd look before I revised my offer. On the 2nd inspection, I noticed the concrete stumps were crumbling & the house was sagging a little in the middle.
I figure this is good and bad news. The bad news is I need to spend $15k restumping, the good news is this will scare off any other buyers…or any time spent with other buyers would be a waste as building & pest inspections would cause the deal to fall through.
I said I was leaving my offer as is, and Im wondering if I already offered too much.
Am I crazy? should I run a mile? Or am I in a great negotiating position?
http://www.posigear.8k.com
Positive Geared Share InvestingOriginally posted by crashy:I put an offer in on a house on Sat. Agent called me today & said “the owner rejected your offer & did not countersign, we have other interest parties”.
I said I wanted a 2nd look before I revised my offer. On the 2nd inspection, I noticed the concrete stumps were crumbling & the house was sagging a little in the middle.
I figure this is good and bad news. The bad news is I need to spend $15k restumping, the good news is this will scare off any other buyers…or any time spent with other buyers would be a waste as building & pest inspections would cause the deal to fall through.
I said I was leaving my offer as is, and Im wondering if I already offered too much.
Am I crazy? should I run a mile? Or am I in a great negotiating position?
http://www.posigear.8k.com
Positive Geared Share InvestingIf you had offered too much they would probably have accepted the offer. If you think you have offered too much then simply withdraw the rejected offer.
The old saying “the deal of the century comes along about once a week” should always be in the forefront of your thinking when you look at a good deal.
If you are totally unemotional and have made your offer based purely on the numbers (as you should) then you can either say to the agent “thanks and I’ll take my money elsewhere” – the agents always have “other offers”, or you can simply leave the offer on the table for them to ponder over.
Either way, if the house doesn’t get sold after a couple of weeks I can guarantee you that the agent will ring you to see if you are still interested. THEN you can renegotiate the offer a little more.
Were you thinking of lowering your offer after seeing the concrete stumps?Cheers,
Marc.
[email protected]crashy,
I think many people will run a mile when it comes to structural damage, so this could be a great opportunity to negotiate and purchase a bargain. Just need to make sure you are purchasing a real bargain.We purchased a property with structural damage some years ago and basically picked it up for land value. I have to say though this scenario did cause me personally quite alot of stress, and sleepless nights.
We got rid of the problem which was water running on footing, repaired brickwork, repointed and the place is now worth over $1M.
I agree with LA if the house does not get sold within a couple of weeks u will be getting a phone call, perfect opportunity to re-negotiate and make sure you know exactly what your up for.
(Hard work never killed anyone, buy hey why take a chance)
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