I offered $145K on a 3 BR 2 BATH Coalinga, ca, built in 1949, new roof 2010. Asking price was $153K. Realtor. Counter offered $156K. What should I do

Newer roof 2010. Rural area, prison industry, oil fields, upcoming medical Marijuana plant approved. One new hotel being built. New apartment building built 6 mos. Ago. Small town of 12K. 50 miles to shopping.Homes stay on market and empty 2 or more years often times. This home, at 241 Lincoln St. 93210, is 3 BR, 2 BR, detached 2 car garage an RV parking, hardwood floors, lots of storage, large kitchen and laundry room. Last sold for $145K but owner, my next door neighbor said he wants to break even at $150K due to divorce and wife not paying her part of mortgage while she's staying there with 2 toddlers. House is half block from community college, grocery store and restaurants. I don't want to pay more than value and get stuck not being able to sell
(0) | asked by: Lorraine Halonski | share | 2 hours ago | Report
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answer by Rich Reed    |   Visit My Website   |   Contact Me
Hi, Lorraine, do you have your own Realtor representing you? Your Realtor should be able to explain how offers and counter-offers work. Sometimes it's not really about the numbers, but emotions, too. The Seller may have countered higher than list because there are other offers, or just to make a point. Your Realtor should be able to find out which is the case. If you aren't using your own Realtor, the Seller's Realtor may be acting as your Realtor in a dual agent capacity. If she is, she owes you equal fiduciary duty. You could ask her to explain the counter offer and ask her for a CMA and the comps used to arrive at that price. Hope this helps!
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