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House Update Offer(s)

January 11th, 2015 at 11:42 pm

So it looks like we might get two offers on the house this week. One person is preparing an offer right now that I am a little meh about. The VA offers we have received have always lowballed us and this one is worse than the last two who never made it official. The other will know if they got their financing tomorrow and then will make an offer that I hope is better than the other one. But if the second one doesn't materialize, we will probably accept the other just to be done with it.

I am getting annoyed with people who don't want to pay their own closing costs. We paid ours and the market was much more favorable to buyers then so we could have probably gotten them to do it, but we felt like it was being cheap to try, especially since they'd come down $20K in asking price. I am starting to think it is just the thing to do for people to get the sellers to pay the closing costs, whether the market validates it or not.

Posted in | 10 Comments »

10 Responses to “House Update Offer(s)”

  1. NJDebbie Says:
    January 12th, 2015 at 12:04 am 1421021071
    1421021071

    That seems to be the new trend and I agree with you. We have always paid our closing fees.

  2. Bluebird Says:
    January 12th, 2015 at 12:35 am 1421022910
    1421022910

    Keeping my fingers crossed for you! I hope both offers are good!

  3. creditcardfree Says:
    January 12th, 2015 at 12:51 am 1421023892
    1421023892

    It does seem the trend, and I'm irritated by it as well!! We have always paid our own closing costs. We used a VA loan this time and we didn't low ball. I think that is unfair to say. I do wish you completion with your home sale.

  4. LuckyRobin Says:
    January 12th, 2015 at 01:00 am 1421024414
    1421024414

    CCF--Well, it might be unfair in all cases, but every time we've had an offer or someone who was thinking about an offer with a VA loan, they have lowballed us and tried to get us to pay closing costs, plus I guess there are other costs that we would have to pay just because it is selling to a veteran. Sorry if I hurt your feelings. I am going based off my experience.

  5. ThriftoRama Says:
    January 12th, 2015 at 01:51 am 1421027509
    1421027509

    I've noticed realtors always tell you to ask them to pay closing costs. I've never asked, but I've always had to pay them for other people. I figured if you couldn't afford closing costs, you can't afford to buy the house.

  6. ThriftoRama Says:
    January 12th, 2015 at 01:52 am 1421027567
    1421027567

    Oh, and the VA loans, as well as the 3 percent down first-time buyer loans, are a nightmare. They have more stringent inspection standards. We had to do weird stuff like scrape down and paint a plumbing stack in our basement. One peeling paint patch and the whole deal is off.

  7. Kiki Says:
    January 12th, 2015 at 04:59 am 1421038773
    1421038773

    The offer I made on the house I'm trying to buy included them paying half the closing costs. And based on my preliminary appraisal actually went 5000 over their asking price so they made a little bit more money than they were anticipating. now we are negotiating on the work that needs to be done before I will settle and by the house. Originally they agreed to do several different pieces of work and now they're offering me a third of the price to actually get it done at close in cash. They originally agreed to do it and now backtracking so we're negotiating all over again.

  8. FS Says:
    January 12th, 2015 at 05:49 am 1421041767
    1421041767

    Sometime, having the property listed for too long make the buyers think they can get away with a lot of demands even in a seller's market. Wish you luck.

  9. ceejay74 Says:
    January 12th, 2015 at 04:11 pm 1421079071
    1421079071

    When the seller has more power it's off the table; when the buyer does it's on. That's what I've concluded anyway. When I bought the condo it was near the peak of the housing bubble, so my realtor didn't even mention the possibilities of lowballing or asking seller to pay closing costs. We were lucky to get the place at the listing price and not get into a bidding war.

    This time around, I lowballed a bit and my seller paid most of the closing costs when I bought, and I fully expect to have to sell for $5K less than what it's listed and pay half the closing costs for my eventual buyer. Just the way the cookie crumbles right now.

  10. FrugalTexan75 Says:
    January 13th, 2015 at 12:00 am 1421107220
    1421107220

    I hope you get better offers than you are expecting!

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