I have a question for you ladies. As many of you know we are trying to buy a house. They were originally asking over $100,000 and then dropped to 99,500 which is where we come in. We offered them $80,000 and they of course did not accept it, which I didn't figure they would. However, they countered with $90,900 which is pretty much where I thought they might end up. Now my question is should I counter their counter?

I was considering calling the realtor, who is super nice, and seeing if she thought they would come down a few more thousand or cover closing costs. The reason I just wanted to talk to the realtor casually is because I wanted to see if I could get a feel for the sellers. I have been talking with everyone and getting mixed responses. My mom says they expect us to come back with another offer but then my co worker was saying she would be afraid to have them walk away from the deal. We can not have them walk away. We love this house and need to move quickly. Dh says he doesn't think they can afford to cover closing costs which is why I thought maybe they'd come down a little more on the price maybe rather than closing costs.

If we can get them under 90,000 I would be thrilled and this house really has a lot of potential. Its brand new, never been lived in. They were building it to sell is my understanding and then the husband hurt his back so they had to stop working on it. Everything is done up to the drywall so the only things left are really cosmetic stuff that I love doing and this way I get to pick my own stuff. It also has 10 acres with it and is in the school district we want.

Anyway, sorry this got long I just wanted to get some other opinions on what we should do at this point.

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Proud mommy to adorable Kinsley

MY BLOG!

I would counter one more time. Since they came down so much from the original price it seems as though they really want it to sell. It couldn't hurt. All they can do is say no.

Good luck with it. It sounds like a really great deal..

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~Jodi~

I would give it a try!! or at least ask for the price they offered with x amount in closing costs included. All they can say is no or possibly YES!

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~Happiness is a large family~

Personally, I would accept their offer. It seems like a nice compromise. I would worry about another buyer coming in and losing the house.

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I think what I would do is counter back $90,900 and $3,000 for Closing and MISC charges. I HTH but if you are afraid of loosing the house over $3000 is it really worth it???

I would also accept their offer. It sounds like it has everything you want and if you lose it over a few thousand bucks you are going to be so sad. They came down ten percent, which is a lot. Look at a mortgage calculator and you will see that the difference in what you will pay on a, say, $85,000 house and a $90,000 house is miniscule. That doesn't even factor in what you will be putting down on the house so your mortgage will be less than that.

I would accept and if anything, ask them to cover closings. but it sounds like youre getting quite a deal already. i know this is stressful, i did the same thing in 2005 while i was pregnant. good luck

I would also accept the offer and see if they would cover the closing costs. It's worth a shot. What a deal in my opinion!! Maybe my family should move there! 10 acres!! I'm jealous!!

You should know that closing costs are not covered by the seller, it is just a paperwork term.
You will be buying the house for the amount you agree on, for example, for $90,000, the mortgage company will tell you how much the closing costs will be, once they tell you, say they will be $5,000. the $5,000 will be added up to the house price, so the seller will sell the house at $95,000, and the $5,000 is really tagged onto your mortgage. I hope that makes sense. So they really shouldnt have any problem.

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We buy things we dont need,
with money we dont have,
in order to impress people
we dont like?
(Ramsey, D)

What I think MandaRenee and everyone else is talking about doing is having the seller pay for (or offset the difference, if you prefer) closing costs. Therefore if the closing costs are $5,000 then the seller would "really" be selling for $85,000. If they sell for $90,000, they give the buyer $5K at closing.

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