Got our 1st offer....at 90%

16 years ago

House on market 4 months. Priced at $149,900. Nice house, very well kept, really good neighborhood in our town. Of course sales slow in this area like many places. But our price range, houses are moving a wee bit faster.

Got our first offer yesterday, at beginning was about 85%, $125K actually, and they wanted 3K towards closing. Ouch, that stung a little. We countered at $145K, with 3K closing. Had a long talk with DH. Since we have already bought another house and moved, but no mortgage on new one, we are still spending around $700 monthly on old one.

They came back with $135K. We told our agent we are very strongly considering taking it, but with no closing. That would put us at accepting 90%. She thinks they will go for that. We have to make a decision today.

In this market, we are a little scared NOT to, yet worry that we are jumping too fast at the first offer to come along. I know it's a gamble in the end.

I guess we just see so many houses around here sitting for months on end, some for a year without selling.

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Comments (12)

qdognj
16 years ago
This is very easy, TAKE THE OFFER!!!!!!
I sense a touch of greed, but don't let it sway your decision
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susanka
16 years ago
My view, at 90% don't let it go!
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dgo1223
Original Author
16 years ago
That's exactly what I wanted to hear. :) Maybe I'm a tad too emotionally attached to that house and just don't realize it. Until now. DH has said yes since last night, me too actually, I just kept having that niggling little bit of second guessing myself.
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hobokenkitchen
16 years ago
Wow - you've been on the market 4 months and you've only just got your first offer, and now you think you'll be jumping too fast if you take it??

For heaven's sake, just take it. Sigh.
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terezosa / terriks
16 years ago
In this market, we are a little scared NOT to, yet worry that we are jumping too fast at the first offer to come along. I know it's a gamble in the end.

If the offer had come after 4 days, I could see your concern, but you have been on the market 4 MONTHS. You should consider yourself lucky to have an offer to work with.
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dgo1223
Original Author
16 years ago
We accepted the offer of 135K, with us paying no closing. Closing on 21st. So that will be a relief to have it done with; a nice Christmas gift to be out from under it all.

All in all, we are fortunate, only 4 months on the market in these rough times.
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acey
16 years ago
Boy that is GREAT!!!! And a quick closing too!!!! Indeed nice to be out from under....that is SUCH a relief!!!!
Always best to try to work out the first offer you get! And you did!!!!!Congrats!!!
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susanka
16 years ago
Congratulations! You're very lucky. Hope you love your new home.
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siobhanny5
16 years ago
Congratulations! That's wonderful. Merry Christmas indeed!
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dgo1223
Original Author
16 years ago
Now, if we wait for them to get thru home inspection, and all the other red tape that goes along with buying a home, I'll be ok., pessimist that I am. I know a dozen things could go wrong. But we have taken very good care of the house and made many improvements, but I guess there are always unseen issues....

He is a Dr., lives out of town, I believe, and needs to close quickly to get to work here. At least that was the impression I got. The house is less than a mile from the hospital and all the medical facilites here, so I guess that was part of the attraction. Lucky for us. :)
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newjerseybt
16 years ago
Congratulations! ....and please do not get seller's remorse!

My neighbors, who were also selling at the time, and one realtor (4 Star) told me I sold too cheap. Their homes are currently at 800+DOM and climbing while my home sale proceeds are MAKING money for me.
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dgo1223
Original Author
16 years ago
Once I make a decision, I usually don't look back. :) At least 2 of my neighbors houses have been on the market over a year. Another recently finally sold next door after sitting way over that.

Our proceeds will also be earning interest.

Selling at 90% now is better than nothing.

800+ DOM?!?! I can't begin to imagine!
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Got our 1st offer....at 90%

Comments (12)

qdognj

susanka

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Got our 1st offer....at 90%

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