Home Buying in Tujunga>Question Details

Ro, Home Buyer in Tujunga, La crescenta,...

I placed an offer on a short sales property. The property was listed at $585.000 and I offered 530.000. After

Asked by Ro, Tujunga, La crescenta, ca Wed Jan 30, 2008

a week the seller decreased the selling price by $20.000. Should I decrease my offer by $20.000?

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We agree with Karen. If you really want the home stay where you are.....she is moving in the right direction. What can you do to sweeten the pot? quick closing date? cash deal? increase cash deposit?

I would recommend you not put all of your eggs in one basket...keep looking and when you locate another possibility indicate to the initial seller you are ready to move on and explore other options. Actually, you can make that disclaimer now....

Good luck,
The "Eckler Team"
Venice, Fl 34285
941-408-5363
1 vote Thank Flag Link Thu Jan 31, 2008
Ro,

Do you want the house? Do you believe that a short sale is priced at 10% above what the bank will take? What is the status of your offer? How often is your agent speaking to the listing agent? Perhaps the seller is trying to make your offer look better to the bank by lowering the price, thus lowering the percentage that your offer is off.

If you want the house and you feel (supported by comps provided by your agent) that $530,000 is a good price, I would stick with the original offer. If you don't really want the house, stop wasting everyone's time.

Best of luck,

Karen Miller
(562)756-4144
1 vote Thank Flag Link Wed Jan 30, 2008
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