Thursday, October 13, 2011

Playing Ball, but Bunted

Heard back from the seller of the property we put an offer in on.  The good news is that they're playing ball!

The bad news is that they're playing small ball - they're not swinging for the stands; they bunted.

Here's the scoop:  3/2/2 house is listed at $99,900 and we submitted an offer at $85,000.  The counteroffer that came back was at $98,000, but that they also would not be providing a home warranty (cost was $495) that they advertised, since we're investors.  So, they really lowered their price by $1,400.

My agent advised a couple things - banks will usually not come down much on price during the first 30 days that it is listed, regardless of whether the offer is all cash (this one is).  So, he recommended going back at $90,000.  I didn't want to go up $5k for a $1.4k drop in price, so instead, we countered with $86,500.

We'll see what happens!

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