As an update, we got the offer last evening from the open house local buyer. It was $15,000 above the California buyers and just as good in the terms associated with the deal (dates, mortgage, downpayment, etc.). My agent did get back to the California buyers to give them an opportunity to come up. The wife's response was "I love the house, but husband will not pay that much for it." Call us if the deal falls through.
So we can go back to them, if this deal falls through.
For anyone selling a house in this time of uncertainty, I would give this advice. Price is key. A well priced house will get activity. Length of time on the market no longer carries the stigma is used to, especially if you are active. Since they have so many choices, buyers are just doing their homework and taking their time to find the absolute right house for them. If you are inactive, drop your price. Also...and I can't stress this enough....make your house (inside and out) look the best it can be and better than you competition, so that buyers remember it when they leave.
First they make a "final" offer.
They then make another offer, this time verbal. As they say, a verbal offer is worth the paper it's written on. In other words: It's worthless.
Technically, you have nothing to counter.
Meanwhile, (heh, heh) they need to move by June. That means they've got very, very little time left. That strengthens your position.
Next (heh, heh) the wife loves the property. You want to know a little secret? In about 90% of the purchasing decisions, it's the wife who decides. In this case, hubby is trying to be a master negotiator. And my guess is there's quite a bit of behind-the-scenes friction with the wife wanting the house and hubby trying to get a great deal. She's going to win, not him.
Plus (heh, heh), you have a great open house and may be getting an offer from someone who looked at it yesterday. That's good news.
Discuss all this with your Realtor. What you might consider asking your Realtor about is: Notifying the California couple that you had a very successful open house and you're expecting an offer. You can't even act on their verbal "offer"--it's not an offer. If they're serious, they should make a "best and final" written offer immediately. Oh, and make sure that the California wife is on that call.
However, I did get a call from my realtor just a short time ago saying that another realtor called her and said that an offer is coming in this evening from one of the buyers of yesterdays open house. So we will sit and wait to see what the offer is before answering the California buyer.
What does your agent think?
Good luck to you,
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