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I countered an Offer in this Market, was I crazy?

Trying to Sell
Home Seller
Plano, TX

I recently recived and offer for my home. For protection of actual contract I will modifiy the numbers to reflect the true listing in variance. The home is listed at $300000.00 and the offer was made for $286000.00. There was a $4000.00 closing cost request for me as the seller to pay. I countered with $2000.00 for closing, a year warranty, at a price of $295500.00. I owe $273839.40. After a 4.5% comminsion payout to Realtor I'm look at no more than a $3000.00 net. I'm not trying to be greedy, but I want to be fair. The comps in my area for simular home sold for much more, I'm just trying to stay out of the red. I'm I being reasonable?

Answers (8)
Stephanie
Home Seller
Plano, TX

So how did it end up? Did they accept your counter offer?

Wed Oct 1 2008, 09:12
Bill Eckler-Flo...
Agent
Venice, FL

Trying,

No, you are not crazy....

You did what you thought was right so stop second guessing yourself. If your counter is not accepted you can always go back and accept their offer.

Good luck,
The "Eckler Team"

Fri Sep 19 2008, 05:16
Mike Pannell
Agent
Fort Worth, TX

I think yo made a great counter offer, Like somene said below they might come back and ask for the rest of the closing cost again.

Thu Sep 18 2008, 19:45
Josh M. Boggs A...
Agent
San Antonio, TX

From the initial look of it.. you did ok and gave a pretty solid counter, but like it's already been said before... expect to have to come out of more w/ the closing costs and then have a higher sales price.

Best of luck!

Josh

Thu Sep 18 2008, 18:55
Ryan
Agent
Utah

I agree with Naima. The borrowers need the money to close. You should keep the 4K in the deal and change your sales price up. To them its 8-12 bucks a month. Point is they need the 4K to close. You are not greedy but dont take away their closing costs. Otherwise they might not be able to buy it.

16 years mortgage real estate exp

Wed Sep 17 2008, 10:51
Naima Sumner
Agent
Dallas, TX

I am sure that they expected a counter offer. However, I think that if buyers are asking for cash to close, they probably need it. They may have good credit to get a loan but be cash poor. So be prepared for them to come back and insist on the 4K in closing costs.

I don't think you blew it. You gave a decent counter offer and I am sure that you guys will meet somewhere in the middle.

Good luck,

Naima
214-289-8555
naima@sumner-realty.com

Wed Sep 17 2008, 10:45
Trying to Sell
Home Seller
Plano, TX

The home has been on the market 30+ days

Wed Sep 17 2008, 10:05
Naima Sumner
Agent
Dallas, TX
FIRST ANSWER

How long was the home on the market?

Wed Sep 17 2008, 09:54

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