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MissESL MissESL is offline
 
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No Counter?
Old 09-19-2019, 12:59 PM
  #1

So, some may remember that I began searching for a house about 6 months ago. You all gave excellent advice, and so...I need more!

I made an offer on a house in the early part of Summer. Unfortunately, it didn’t work out. I’ve been searching faithfully and finally found one I love. It’s a nice house in a nice neighborhood. The price was not outlandish, and I asked $9,000 below asking price. My realtor did not think that was unreasonable, and both of us were hoping/expecting to land somewhere in the middle after negotiation. It’s common to pad your house price, so it’s kind of expected. The house is officially listed and I’ve seen it twice.

He did not counter. He said the sign wasn’t in the yard yet, and they’re going to Texas for a week, so he doesn’t know what he wants to do. The realtor said basically with “no counter” he is saying he wants to stay at his list price and expects me to come up.

I expected to come up, and was willing to come up about $5,000 over the negotiation process...but I also expected him to come down a little in the process, too?

I don’t even know what to think about this. I don’t know if I want to make a higher offer considering he did not counter at all. It also feels like fighting dirty, and I won’t do that.

Please give me your view on this.
Thank you so much!


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Old 09-19-2019, 01:11 PM
  #2

No counter just means the seller is saying no to your offer. He thinks it's too early to accept a below asking offer and is willing to wait for a better one.

If you really like it you can give a new full price offer or you can wait and see if it sits for awhile and then come back with a lower offer.
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Old 09-19-2019, 02:05 PM
  #3

Pooh Bear is right. Thereís no script for how this goes. Both parties are free to offer, counteroffer, decline, wait for better offers, etc. You were hoping you would be able to meet in the middle. Thatís all, just a hope. The seller is not playing dirty, not doing anything wrong. When I sold my house, I had several offers. I waited and got my asking price.

Donít give up. If this doesnít work out, keep trying. But try not to have your expectations too high. Your house is out there! Good luck!
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Old 09-19-2019, 03:28 PM
  #4

Fighting dirty?

There is no required negotiation in house sales. The seller has no obligation to reduce the price. If I was the seller and the house just went on the market, I'm not sure I would negotiate either. Other circumstances would even make me less likely to negotiate such as having a house paid off so holding costs would not be as high if I had to buy/rent another and still hold the house that is for sale.
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Old 09-19-2019, 05:14 PM
  #5

Quote:
Pooh Bear is right. Thereís no script for how this goes. Both parties are free to offer, counteroffer, decline, wait for better offers, etc. You were hoping you would be able to meet in the middle. Thatís all, just a hope. The seller is not playing dirty, not doing anything wrong. When I sold my house, I had several offers. I waited and got my asking price.
Completely agree with the PPs. It's not playing dirty, it's giving you feedback on what the seller is feeling. Think of this from their perspective- they asked a price and they are probably hoping to get it, and you gave a lower price and they've barely even put the house on the market. They probably want to see what else gets offered. Of course they want the best price they can get, just like you do. They may not feel the inflated the original price.

Good luck! Buying and selling houses is SO stressful and full of unknowns. If you love the house, you might want to give another offer and bring your price up. Or find another house. It's disappointing not to get a counter, but it happens and now you know a bit more about where the seller is sitting.


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Old 09-19-2019, 05:38 PM
  #6

I'm sure this depends on the area, but around here it's extremely common to offer above asking, or asking at minimum because the market is really tight. I got away with offering below asking because my place ended up being on the market for a long time for various reasons, but that's really rare.

Six months seems like a really long time to be looking to me- I looked for about 3 months and was getting very frustrated! Only you know your situation though- if you're not in a hurry and are okay with missing out on this house, I'd keep looking and possibly put in another offer if the house ends up staying on the market for awhile.

If you're in love with this house, I'd offer the asking price since you said it was reasonable and you've already been looking for so long. Maybe ask your realtor what she thinks about offering a higher price that's not asking.

I put in an offer on another place earlier in the summer and was insistent that I couldn't go above asking, even though my realtor told me it was likely priced a little low. I didn't get it and out of curiosity looked up what it sold for- only $1500 more than I'd offered. I'm happy with my place that I got, but if that had been my dream home- it's pretty crazy to not get it over a measly $1500 (in the grand scheme of things when you think about how much you're spending!)

Another way to think about it is that my lender told me you'll pay about $50 per month in your mortgage payment for every $10,000 of loan. I had an original price point that I wanted and found that the difference in quality between houses that were 10-20K more was SIGNIFICANT, so for me it was worth it. So for the $9K you'd be paying a little less than $50 more per month- is the house worth that to you?
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Old 09-19-2019, 06:20 PM
  #7

Not exactly the same scenario, but when my mom sold her house, the first offer was quick and low. She simply refused it, without making a counter offer. A couple weeks later, she happily accepted an offer above the listing price.

If you are still interested, you can make another offer. If not, keep looking. The ball is in your court.
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Old 09-19-2019, 06:45 PM
  #8

No counter is just the seller saying no. He likely wants you to come up to his list price. You can trying going up another $5000 and see if he responds. If you’re interested, there is no harm in making another offer. In my area, most houses go for at or above list price, so an offer below would likely be a no go.
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Old 09-19-2019, 07:59 PM
  #9

Just adding on that in my area, there are often bidding wars and you almost never see an offer before asking accepted. People price knowing the price will be driving way up. I think it's slowed down a bit, thankfully for those who want to buy, but it's still not where people are taking much below asking (if anything). It sounds like your area is different, as you said "It's common to pad your house price, so it's kind of expected." I don't think that statement is universally true at all. We sure didn't pad our house price when we sold a house a few years back.
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Old 09-19-2019, 08:42 PM
  #10

Quote:
It also feels like fighting dirty, and I won’t do that.
Remember that home buying/selling is just business. Don't make it personal. He wants to get a particular price for the house. You want to give a particular price for the house. They don't match and you both move on. That's not dirty. That's business.

A neighbor became irate when someone offered her $150k less than asking and she basically wrote him off because she felt he was insulting her and bad mouthed him to anyone who would listen (e.g., me and DH ).

She ended up selling the house many months later for $50k less than what the first guy had offered her. He was the one who was right about how much the house was worth.

EDIT: I just realized my example is probably a bad one because you feel like the homeseller is more like my neighbor. I just meant, it didn't make sense for my neighbor to get so upset about an offer on a house. It wasn't a personal insult to her, just like not countering your offer isn't a personal insult to you.


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Old 09-19-2019, 09:21 PM
  #11

btw (yes, I know this is my third post in this thread )--

when I read your title and hovered over and saw the first line or so, I was thinking you were considering buying a house with no (kitchen/bathroom) counters I was going to recommend against that
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Old 09-19-2019, 09:30 PM
  #12

Quote:
when I read your title and hovered over and saw the first line or so, I was thinking you were considering buying a house with no (kitchen/bathroom) counters I was going to recommend against that
I thought the same thing but was going to say it would be fine because you could put in what you like without the bother of removing the old
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Old 09-20-2019, 02:25 AM
  #13

I also thought a kitchen with no counter, haha !

My 100 year old house didn't have one when we bought it 30 years ago, but now it has lots
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Thank You
Old 09-20-2019, 03:22 AM
  #14

I appreciate the feedback. I love the house, but the list price is at the top of my budget...AND in our area, the house is not a hot commodity. Itís a buyerís market right now in our little rural town. Houses never really go close to asking.

I actually found a house I loved near the beginning of my search. However, the sellerís final offer was actually dirty business. Seriously like...uncivilized I would explain but donít want to do to much detail, except to say it still hasnít sold and my agent said he had three other offers after mine. Anyway, that experience is probably coloring my view, because that upset me so much that I really stopped looking for awhile.

After sleeping on it, Iím going to just sit on it for awhile. The guy comes back from Texas in a week. Maybe he will have offers or maybe he will not and be willing to talk again. Iím willing to go up some, but I donít want to go in at my highest, because then I have nothing left to offer him if he counters above what I can do.

Thank you all for being so logical and calming me down. I really appreciate it. Your advice and experience is priceless to me!
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Old 09-20-2019, 08:02 AM
  #15

Quote:
when I read your title and hovered over and saw the first line or so, I was thinking you were considering buying a house with no (kitchen/bathroom) counters I was going to recommend against that
Me too! I hoped she had pictures of a counterless house because I couldn't imagine.
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I just read the last post
Old 09-20-2019, 09:19 AM
  #16

and realized I was not alone in thinking it was about kitchen counters and I was ready to give suggestions on how to get counter space into a kitchen.

As to the real reason for the post, when we were selling our home an offer went forward or was declined not just because of the offer on the price, but on the other items in a contract like whether they were offering to buy on the condition that they sell their present home, the other finance items as who pays the closing costs, etc. Buying a house is just so complex.
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Old 09-20-2019, 03:05 PM
  #17

I also thought it was a post about the house having no counter space when I read the title/hovered over the first line . Glad I'm not alone!
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Whoops
Old 09-20-2019, 03:16 PM
  #18

Whoops! I didnít mean to be confusing. Iím thinking that no counters might make it much harder to sell a house.

In my offer, I asked only for the chest freezer to be removed. And that they consider removing the broken play area...just consider, it was not a condition of sale.

Iím thinking going back in a week - he said he will not consider offers while on vacation - and going up $3,000. Maybe he will be ready to consider it. We will see!
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Old 09-20-2019, 03:34 PM
  #19

I would not assume the asking price is padded. We just bought and sold. We offered full asking right away. The house was priced well . We priced our house lower to avoid having two mortgages. We wanted out ASAP. We got multiple offers and some were over asking.

A house is worth what someone is willing to pay. Comps help to determine prices, but really it's hard to put a value on a house.

Not all buyers and sellers are looking to play games.

What are you willing to pay for the house? What is it worth to you? Offer that and walk away if that doesn't work.
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Old 09-21-2019, 12:36 PM
  #20

Would offer what you are willing to pay and if you absolutely can not go higher say ďBest and final offerĒ . That way if he agrees then fine, but if he wants more, than he knows to not counter offer and to just tell you no.
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