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[benhaus]

i made an offer on a house last night. about $24,000 under the asking price.
he came back with $1,000 under the asking price.

haha.. i love negotiations!

Comments

[idea_boy]

Awesome. Where's the house located?

[benhaus]

Church Hill

[jrunberg]

Good for you, Ben.

If you've done your homework then you're in line to offer what you think it's worth. Simple fact for all who call d-bag: seller doesn't have to sell, buyer doesn't have to buy. No-one's going to blacklist you for what you ask or offer. If he can rent and cover losses, so what. Bet he wants his $$ to invest elsewhere, however.

Market watch update from down south: there are three houses on our block that have been for sale for ALMOST A YEAR. We passed a flip coming back from Phils (mmmmm.... Phils....) what's been on for even longer. That particular one the flipper did good work, but built to the top of the market which doesn't exist anymore. And he's (was) asking 2x anything else on the block. The ones on our block are still asking near-peak prices as at least two are probably upside down.

Ben, stick it out. The LAST thing you want is to buy and watch as you get upside down as the market continues to correct.