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 months ago | Report
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answer by Jay Goyal    |   Visit My Website   |   Contact Me
There are several factors to be considered. How long the property is in market, how many offers seller has, how much is the demand for this kind of homes, how many similar listing are available? Conditions of negotiation depends mainly on demand and supply. Generally commanding person controls the string
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answer by Lisa Wright-Clegg    |   Contact Me
Lorraine, If the seller said he wants to break even at $150,000 he maybe firm but I understand not wanting to over pay. I would counter back his $156,000, the CA market is pretty good and if not in your area it will still increase I believe. Maybe counter back and see about meeting Him between the $145,000 and $150,000 , counter at $147,500, in your offer did you ask for a Home warranty and did you ask for seller to pay it? If the offer asks the seller to pay for that maybe wave that so that should save him another $400. Good Luck
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answer by Tyrone Graham    |   Visit My Website   |   Contact Me
Hi Lorraine, you should always counter offer to you get close to the price that you fill comfortable with. Ask your realtor to work with you so that you can get the price on the property that you can afford.
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answer by Terri Boysaw    |   Visit My Website   |   Contact Me
Hi Lorraine, my response would be almost the same as the previous answer to your question. However, you should seek your own agent at this point, and I am available to help you understand this process at (310) 480-0261. Call me right away for options.
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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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2 months ago  |   Report   |   share
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