When to walk away from a offer on a house with picky sellers?
Question by gc_level_17: When to walk away from a offer on a house with picky sellers?
Here’s the situation: My spouse and I are first time home buyers. We’re on a budget. The house we want to buy appeals to flippers (no doubt) see below.
-The house has damaged fascia and seepage in the basement because of gutter problems.
-The detached garage has old wall shingles (possibly asbestos) but it would have to be tested.
-It has a leaking faucet in the basement along with a toilet that drains and refills every 5 minutes. (very loud!)
-These are all simple fixes, but depreciates the value of the house, nonetheless. Everything looks outdated but it’s mainly cosmetic. We are not sure about structural integrity until an inspection is done after an offer is accepted.
-The house has been on the market since July last year
Compared to other houses in this city’s market, they are asking too much money for the condition of the house. So we made a offer 12% below their asking price. They advertised the fridge, stove and dishwasher stay. We are not asking them to pay ANY closing costs.
They countered our offer with $ 1k less than their asking with no fridge and stove.
We verbally countered back at 5% below their asking price and ONLY the dishwasher stays. Still not asking them for closing costs. So, when should we walk away? I’m ready to walk away if they do not take this last offer.
Are these people serious?! It seems like they really don’t want to sell their house. I believe they are being very unrealistic for this market (They need to realize not all 100% of sellers get their asking price in a Buyer’s Market). Considering their home’s condition, they need to budge on price! Thoughts?
I have to add that the only updates they have done is a new bathtub in the main bath but the job is done very unprofessionally and will have to be re-done.
Location is about 3 blocks from the tracks. So, not an ideal location. The square footage is about all that is worth paying a little more for (2k square feet total)
Best answer:
Answer by Daniel
this house must have the one thing that makes a house valuable to you that is LOCATION LOCATION LOCATION if not RUN dont walk there are plenty of houses in similar to better shape you can find with very little effort
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