There are plenty of good buys out there. Make an offer that you're comfortable with, one that is no more than the real value of the property and, perhaps, somewhat less. Clearly convey that it's your best offer, and it's only available for a limited period of time.
Hope that helps.
If they still refuse to negotiate with you, withdraw the offer (you don't want to leave a live offer in place that they might use as "leverage" against another potential offer). Let them know that you might still be interested, should they change their minds (come to their senses).
If they're still on the market in 30 days (which is sounds as though they will be), you can reevaluate and decide if you want to present your offer anew.
I say stick to your original offer and if it goes away then you will have to hit the streets again.....good luck to you!!!
This little "smoke and mirrors" routine is called - re-listing...
We are having a very vibrant discussion about this exact subject, so make sure you read this:
As you can see .. many realtors use this as a way of concealing information and making their listing a "refresh" by not disclosing the exact DOM (days on the market) ...
Their agenda is simple ... show a false listing and raise or lower the price without much notice - much like the Carfax commercials on TV .... "like new sedan, barely used..." .... as it gets hauled away.
Most consumers fall into the trap .. but for the savvy ones like yourself that have been watching and tracking that market for the last 3 or 6+ months, they catch the masquerade ...
Many states are now trying to ban this scenario, but because of the MLS situation it won't happen tomorrow.
In this particular case, you have a new listing agent ... listing agents depend on the other 213 agents in their area to sell their product, but even they know this house has been on the market for many moons ... you'll hear much chatter, but probably no action.
I would definately stick to my original offer, I would also go in totally approved with bank letter in hand ... I would also show the printouts, the MLS #'s and the pictures from last year ... if need be, I would just go around the current agent and call the owner and negotiate from there .. if nothing else, he'll call you back when he cancels any current contract.
The only person that should ever inhibit you from buying a house, is the owner himself ... certainly not an agent.
Good luck and happy hunting.!
I am assuming that you and your agent have been looking at your new home for some time now. You are ready to purchase but still can keep your persepective on home values in your search. Stick with your agent and your instincts and look at what else has come on the market recently. Countetr the counter offer with your intial offer only if you really want this property and you don't see any other house on the market at this time. Put a short window on the offer and see how the sellers respond. You may chose to have your agent verbally reiterate your intial offer and let the seller's counter offer expire. This puts you in control of your purchase and allows the fredom to look elsewhere.
This is a great time to buy and sellers are finding out that it is a great time to sell as long as both parties are realistic in their results. Again, the comps are the main statistics to take into consideration in your situation. If this house is 6% higher than the market, then, the sellers may have to wait for the market to catch up with them. Besides, the next house you see may be the one that you have been looking for all along.
Good luck in your home search,
Rusty Mason, Coldwell Banker John Moffitt and Associates