I have made an offer on a $340,000 house from Home Steps and they came back with a counter of $1,400 less

David Hollmann
Home Buyer
Rogers, AR

than the asking price. How do I contact somebody directly to discuss why they came back SO HIGH! My realtor is NO help and the local realtor for the seller is not responding to my correspondance. Help!

Answers (3)
Paula Prince
Agent
Rogers, AR

David,

I would like more information. I have successfully negotiated several foreclosures. I always tell my clients that there will be "hoops" to jump through. Did you ask for any closing cost, repairs,termite protection letter, home warranty, etc? In NWA, we value homes partially on price per square foot. Is this home priced below the market in the subdivision? If you have a representation agreement with your realtor, go back to him/her and be realistic about your expectations. It sounds as if Homesteps did not take your offer seriously. "Low ball" offers are a waste of time. Remember Homesteps is negotiating for a fair price not a "steal".
Warmest Regards
Paula

Wed Apr 29 2009, 06:59

What do you mean help??

Your in negotiations! So Negotiate! Geeezz

Sun Mar 29 2009, 21:21
Steven Blackwood
Broker
Little Rock, AR
FIRST ANSWER

http://www.homesteps.com/
You can contact them directly but understand that they have an obligation to the seller to sell the asset at "fair market value". That can sometimes be a hard thing to determine but just because a property is a foreclosure does not mean that it doesn't sell at or close to other homes in the neighborhood.
Depending on what the home is worth, what you offered, what all your offer included, how it was structured, etc. will influence their response.
Many times a buyer on a Home Steps property can benefit from the special promotions and financing opportunities that they extened to the buyers of their properties.
Hang in there - stay focused on the home if it is the one you want. Revisit the offer you made and evaluate what you think the property is worth to you. There are far more variables the purchase of a home than the purchase price. And remember, the house will sell. The longer the home is on the market, the lower the price will get - watch it for 21 days and see what happens :-) but remember...... someone will buy it when the price gets right - whatever that price may be.
Good luck.

Sun Mar 29 2009, 18:34

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