Asked by Burbank Buyer, Burbank, CA • Thu May 7, 2009
I would appreciate any and all advice PLEASE!
I made an offer on a property about 6 months ago. Property had only been on the market for a week. Price was 300k. After agonizing over all the comps and getting CMAs from two different Realtors, it was concluded that the house is actually only worth about 200k (asking price is 300k). My Realtor suggested I offer 190k. I did not want to lowball that badly, so I offered 220k. Sellers countered with 275k. Negotiations ended. I did not want to pay above 220k. The house is a fixer from the 60s in need of total rehab; it is the exact opposite of â€œturnkeyâ€.
About a month later house still had not sold, so I offered 220k again. Sellers countered with 275k. I went up to 225k. Sellers did not budge. They also refuse to pay for any closing costs, etc. (I should also mention that the sellers rent this house out; it is not their primary residence).
Well, now itâ€™s six months later. The house is still for sale at the original price. I would have thou
Real Estate in Burbank
Popular Categories in Burbank
Email me when…
Success! Your email alert settings have been saved. Access all your email alerts in your My Trulia account anytime!