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Old 06-21-2009, 03:58 PM   #61
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Maurice - You bet I did! I could do it with feeling because selling the house starts a whole cascade of things I wouldn't necessarily mind delaying a little longer.....like packing, moving, and finding a new place to live in another state. It all started to become real when the offer came in.

Our back neighbors' youngest daughter had her first birthday party yesterday (she was just born!) which was a good excuse for all the adults to sit around in lawn chairs and eat and drink beer. Both sets of grandparents, mom and dad and his two brothers and their wives and kids (5 little girls running around) and the neighbors hanging out in the back yard enjoying a nice sunny day. The evening was a high school graduation party at the neighbor across the street. Wonderful day. I'm going to miss watching the 1-year old and 3-year old grow up.
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Old 06-21-2009, 04:52 PM   #62
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Sounds idyllic, Buckeye.
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Old 06-21-2009, 05:07 PM   #63
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But the weather sucks for 6-7 months out of the year! We have decided we are moving back to our old neighborhood in FL so we are going back to something familiar. Lots of things will have changed in 5 years but a lot will still be the same and we have some good friends there. It took about 3 years to feel like this was home so we'll get a headstart on the new place.
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Old 06-21-2009, 05:36 PM   #64
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If cold weather is gth driving factor, I could stay in a warm climate for a long time for the difference in what this buyer is offering. Heck, I'll bet you can spend several months in FL for 10 or 15 grand. I would be inclined to vacation this year in warm FL and wait and see what the market does.
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Old 06-21-2009, 05:55 PM   #65
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Rustic - Your suggestion is exactly our plan. We want to get on with the next phase of our life living in FL but we will suck up another OH winter if necessary and be FL snowbirds. We already have several FL friends who are offering up accomodations for extended visits during the winter if the sale doesn't happen this year. We have lots of options which is nice. We must have projected a little too much desperation to the current prospective buyers!
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Old 06-21-2009, 06:20 PM   #66
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We sold our house in Texas about a month ago. When we first listed the house, we received an offer about 25% under our listing price that also included a contingency that we'd need to replace the roof. The potential buyer said they had a roofer drive by and look at the house (built in 1993) and he told them it needed a new roof, what a surprise, lol. After talking with our realtor, we decided not to counter what we didn't think was a serious offer. We were pretty comfortable that our listing price was fair in the current conditions and had decided that we'd accept an offer within 10% of the listing price as long as there weren't any unusual contingencies.

About 6 weeks after the original offer, this buyer came back with an offer right at 10% off the listing price with the only contingency being to close within 25 days. Given the house was empty, we were fine with the condition, accepted the offer and the house closed as planned.

In our case, not countering worked out for us- we just felt we were so far apart that it was better to say no thanks.

Good luck with your sale!
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Old 06-21-2009, 06:42 PM   #67
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We have decided we are moving back to our old neighborhood in FL ...

This brings back memories, my family moved from Ohio to Florida when I was 9 years old.
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Old 06-21-2009, 08:03 PM   #68
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All of this discussion is very interesting and informative. It just brings to mind a sad story. My som just "bought" house in Naples. Hasn't owned one for five years and was anxious to take advantage of the rebate for "first time home buyers". He is a former Marine and was getting VA financing through a mortgage broker. He got preapproved and the sales price was based around this mortgage. Both my son and the sellers signed the contract and everything looked like a go. Closing was set for July 15th. Last weekend the mortgage broker committed suicide. Nobody can find out anything about the whereabouts of the mortgage. My son is in tizzy. Told him not to worry, that if the real estate agents want their commission, they'll be finding the papersork.
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Old 06-21-2009, 09:55 PM   #69
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All of this discussion is very interesting and informative. It just brings to mind a sad story. My som just "bought" house in Naples. Hasn't owned one for five years and was anxious to take advantage of the rebate for "first time home buyers". He is a former Marine and was getting VA financing through a mortgage broker. He got preapproved and the sales price was based around this mortgage. Both my son and the sellers signed the contract and everything looked like a go. Closing was set for July 15th. Last weekend the mortgage broker committed suicide. Nobody can find out anything about the whereabouts of the mortgage. My son is in tizzy. Told him not to worry, that if the real estate agents want their commission, they'll be finding the papersork.
Closing on a house is always stressful, but this takes the cake! How sad for the mortgage broker's family, and what a predicament for your son. I hope his mortgage paperwork is found and that he gets his house.
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Old 06-21-2009, 10:23 PM   #70
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davemartin88 - If the prospective buyers do decide to counter and it's not acceptable, we will do what you did and not respond, at least not in writing. I'll probably call the BIL agent and let him know (in my nicest voice, of course) it looks like we are just too far apart to get the deal done but thanks anyway.
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Old 06-22-2009, 05:14 PM   #71
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Did you get a response from the counter offer?
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Old 06-22-2009, 06:58 PM   #72
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Definately counter but offer to carry the diffference in paper. This will keep them from going back to "daddy" for more cash and give you a first position (very safe).
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Old 06-22-2009, 07:31 PM   #73
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Did you get a response from the counter offer?
Buckeye, I'm curious too!
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Old 06-22-2009, 07:32 PM   #74
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No response from the prospective buyers. I would love to be a fly on the wall in those family discussions. OTOH, they may be totally done with the deal and over it as they really believe their offer was fair and we are unreasonable.

Tryan - That's a a very interesting idea. We would definitely do that especially since returns are so pathetic everywhere else. If I don't hear from them after a couple of days, do I call to propose something like that? I could see the dad getting bent out of shape if we proposed a solution to bridge the gap because they couldn't afford to pay a "reasonable" price.
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Old 06-22-2009, 08:02 PM   #75
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You did a fair and reasonable counter it seems to me. They may be just letting you stew for a while.
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Old 06-22-2009, 08:05 PM   #76
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Didn't you give them until the end of the weekend to respond to your offer? If you haven't heard from them yet, I'd assume they didn't take your offer and they are done with it... that your counter expired.

Unless you hear back from them at some point....

I hope they reconsider..it sounds like they want the house and you want to sell.
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Old 06-22-2009, 08:29 PM   #77
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I hope they reconsider..it sounds like they want the house and you want to sell.
It sounds more like Buckeye's husband would like sell and Buckeye would like to have Florida winter weather in Ohio.

If I was shopping in this market I know I'd be making most offers 20% below the asking price. When I bought my house, they were asking $800K I offer $650K cash and we settled on $690K. They almost rejected my offer but my broker convinced them a cash offer was serious. And this was when the HI market was still booming.
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Old 06-22-2009, 08:33 PM   #78
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KB - The BIL realtor did call at about 3 pm on Sunday to tell me they had not decided on a counter amount or if they were even going to counter. If they were really done with the deal, I'm not sure why he would bother to call. His call leads me to believe they are still considering a purchase but who knows.

Martha - The only stewing we are doing is due to curiosity. Is this gamesmanship, are they done with the deal, what might their counter amount be? I wanna know! My style is much more to sit down with the kids and see what we could work out. During the showing, someone in the family said the kids wanted to be settled in a new home before the start of the new school year which is about the 3rd week in August around her. We are going to have to get the show on the road if they want us out and them in by early August.
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Old 06-22-2009, 08:34 PM   #79
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Sometimes the other party will come back after a counter-offer expires. It's like playing chicken.

For example, when I bought my present house, my first offer was initiated the day the house hit the MLS. They countered, and my realtor and I counter-countered. We gave the sellers the weekend to respond to this counter-counter but they didn't respond. My realtor said the house wasn't worth a penny over what I offered and that although he would submit a higher offer, he wouldn't advise it. So there I sat, in "buyer's hell" so to speak. They didn't respond and the offer expired. I was sad but went back out looking at other houses, glumly.

But a week and a half later, they returned meekly with a request by their agent to ask if I would please please please submit the same counter-counter again, puleeeze? Seems they had no other offer, but just had a hard time coming down to what I wanted to pay. I guess they were hoping that I would submit a much higher offer if they ignored that counter-counter, but it backfired on them.
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Old 06-22-2009, 08:42 PM   #80
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clifp - You are so perceptive! I'm trying to be a good wife and help get us to FL as soon as possible but I know we will not have a house as nice as this one when we get there. Luckily, DH didn't think the $232,000 was acceptable. In fact, I think I'm willing to let the house go for less than he is even though he is much more motivated to move.
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