buying a house and the bidding got a wee bit emotional this weekend.

[GasX]

About 2 weeks ago, my wife and I put in an offer for this house. It was supposedly a "closed bid" situation and the only feedback we got was "No" (they went with another offer). Friday night, the realtor called me to say their deal fell through and that they countered. We offered to "split the difference" on Saturday and yesterday heard back from their realtor that their offer had now gone UP by $10K.

My immediate repsonse was to tell them our offer just dropped by $10K (that'll show 'em...). When my realtor passed that on, the seller's agent bitched that we were supposed to go up and not down.

gee, what is good for the goose is good for the gander, right?

We left it that our "split the difference" offer is good for 5 days.

Fingers crossed...

edit:They accepted our offer!

We asked them to throw in a light fixture and a homeowner's warrantee (sold by the realtors) in our original "split the difference" bid. They came back agreeing to our number but said no to the two throw away items (that ploy always works...)

Next up: have the inspection and see what else becomes negotiable...

 

[Cook1]

Very nice looking house.

 

[blackdogdeek]

good luck.:beer:

is that glen ridge? i'm not sure how the bidding goes in glen ridge but in neighboring montclair it is ridiculous. houses will go for $100K above asking in the midst of bidding wars so it's really a seller's market.

 

[Megatomic]

Originally posted by: Mwilding
My immediate repsonse was to tell them our offer just dropped by $10K (that'll show 'em...). When my realtor passed that on, the seller's agent bitched that we were supposed to go up and not down.

gee, what is good for the goose is good for the gander, right?

LoL! I love that, made me chuckle here at work.

That'll teach 'em to be greedy bastards. :evil:

 

[Spikesoldier]

what city? and how much did you offer for that place?

 

[GasX]

Originally posted by: Spikesoldier
what city? and how much did you offer for that place?

It's in Glen Ridge, NJ
Asking price is $699,900

 

[WhiteKnight]

Is that Glen Ridge? I heard Ridgewood Ave. and I went looking through the pics and spotted a gas lamp in the background so I imagine that it is indeed GR. Good luck on the bid. I grew up in GR (first 18 years of my life) and I absolutely loved it. I'd love to move back there some day. My parents and sisters are still there too. Do you have kids? The school system is outstanding.

 

[3chordcharlie]

Well done - once they sign back your offer, with changes you're under no obligation honour it as you originally submitted it.

Since their bidding war has obviously devolved into a one-bidder affair, I think it was a good move (if slightly risky) to let them know you are at least as much in control as they are.

 

[Azraele]

Nice house, but the price. :Q

 

[ThePresence]

LOL, nice counter-offer.
Beautiful house btw.

 

[ThePresence]

Originally posted by: Mwilding

Originally posted by: Spikesoldier
what city? and how much did you offer for that place?

It's in Glen Ridge, NJ
Asking price is $699,900

:shocked:
I'd need like a 300 year mortgage.

 

[Yossarian]

Joe's is a great restaurant in Redondo Beach with a big "Eat at Joe's" sign outside.

 

[WhiteKnight]

Originally posted by: Azraele
Nice house, but the price. :Q

I think that's actually a great price for the area and street. There are multimillion dollar houses within blocks of that one.

 

[GasX]

Originally posted by: WhiteKnight

Originally posted by: Azraele
Nice house, but the price. :Q

I think that's actually a great price for the area and street. There are multimillion dollar houses within blocks of that one.

I think the price MAY be on the lowish side compared to other properties in that price range we have looked at. However, the other properties were all in neighboring Montclair where the taxes are significantly lower. The increased tax bit has a BIG effect on people's purchasing power and the price is consequently affected.

 

[nakedfrog]

The woodwork on the 1st floor is really similar to what I've got in my house.
$10k for what... just because the other party offered them that much?

 

[DrumminBoy]

beautiful house :thumbsup:

 

[Shelly21]

Originally posted by: Azraele
Nice house, but the price. :Q

Yeah, if you live around here, you can buy an "estate" for that price.

 

[GasX]

Originally posted by: nakedfrog
The woodwork on the 1st floor is really similar to what I've got in my house.
$10k for what... just because the other party offered them that much?

I have no idea. The countered our original offer and then when we offered to split the difference, they countered by going up - I still don't get it....

The upside is that we have every indication that they are motivated sellers...

 

[LordSnailz]

At least you're getting a good size house for that price ... here in the bay area we have the same prices but we get half the land and half the house ...

 

[Ogg]

:beer:

 

[waggy]

I love the woodwork. My farmhouse has that but someone PAINTED over it. i had planned on sanding it down and redoing it. But never had the time.

what is the footage on the house? it looks huge.

 

[spidey07]

heh, emotions shouldn't be involved in negotiations. I woulda reacted the same what...

"WHAT!!! You raise your offer? Well screw you and take this, and I call."

Good luck!

 

[DBL]

I understand the need to show them up a bit, but in reality, it's a sellers market and if you feel that the price is a bit below market value, then 10k is not worth making a big deal over. I would feel inclined to keep the process as civil as possible and pay the extra 10k to score the house. I mean, you are talking about and extra $50 per month?

 

[Mayfriday0529]

Beautiful house, hope you get it and fix it up in the inside better, current owners make it look so dull inside.

 

[welst10]

You're confusing. When you say "their offer gone up 10K", you meant their asking price went up 10K, right. Were you the only one placing bid?