Asked by Carol Cornwell Strickland, Cedar Key, FL • Thu May 31, 2012
We fell in love with a small cottage in Cedar Key that was being offered for $195K. The house is small, in need of repair, including asbestos shingles, and has no central air. It is appraised at around $133... it has been on the market for over 2 years without any potential buyers. We offered $125, which was met with "no" and no counter offer. So, we then offered $150. The sellers countered at $175. We then offered $160 (which is in our opinion WAY too much) and the sellers rejected the offer. We are figuring that perhaps they really are not interested in selling the cottage. There are many different sales prices in Cedar Key, but I'd say the average "comp" for a cottage of this type is around $125K as one very similar to it just sold last week for $125K and it is in great shape with central air, etc... We are seriously disappointed and sad that we cannot get the cottage, but we are not willing to go any higher. Can anyone give an opinion or advice about this situation?
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