We just got low balled on our house--WTF *?&!

[Teacher Terry]

WE have had great luck selling things on CL. Everything from home goods, furniture to a car. If we want to give something for free we put it in the front yard with a free sign and it is usually gone by the end of the day.

 

[dallas27]

I love craiglist, but there are people that will think they need to negotiate everything, or will expect me to write a manual for them. I tell them to shove it, and wait for a person who is serious.


Sent from my iPhone using Early Retirement Forum

 

[RobbieB]

I hate getting lo-balled, I'm making a hi-ball right now -

 

[CaliKid]

I hate getting lo-balled, I'm making a hi-ball right now -

Post of the day right there!

 

[jfn111]

I deal mainly in homes $300 grand and under so that's a different world from your sale.
That said, we're definitely in a sellers market here so most homes have multiple offers. When I see a home that's been on the market 20+ days I assume something's wrong with the price or the home.
I put an offer in for a buyer, about an hour ago, for 8% under asking price. The house has been on the market for 28 days and has some issues that would eliminate FHA buyers.
The buyer actually brought up whether or not we would be insulting the seller.
I told her I think they would be happy getting an offer and they can always counter.

 

[pb4uski]

I love craiglist, but there are people that will think they need to negotiate everything, or will expect me to write a manual for them. I tell them to shove it, and wait for a person who is serious.


Sent from my iPhone using Early Retirement Forum

+1 When I put things on craigslist, I price it to sell to get their attention. If they try to low-ball me I just say that I think I have priced it fairly and then I stay quiet.... in most cases the silence causes them to increase their offer.

I'm in the driver's seat... if they don't want to pay a fair price then it goes to charity.

 

[Looking4Ward]

Almost 3 years ago I received an offer on a lakefront home on a very popular lake in Texas. The offer was for 3% below my listing price with a list of things they wanted to convey ranging from the golf cart, lawn tractor, outdoor grills and furniture to most of the (cheap) furniture I had purchased to stage the home since we weren't living in it at the time.

I countered at full listing price and an additional $5K for the items they wanted to convey. They accepted my counter.

I've always considered the selling of a home to also be a bit of a garage sale - it gives me a chance to unload a bunch of cheap and/or used items and replace them with new ones.

Their counter at 15% off with a request to convey isn't unreasonable at all, although I'd be a little more concerned about having to carry the property until the first of next year so I would factor that heavily into my counter.

 

[Dog]

I agree with the other posters. They are doing you a favor by asking for some of the furniture. Unless you plan to take it with you it can be a pain to unload. We sold a few pieces, gave a few to family and donated the rest ( most was high quality furniture too).


Sent from my iPhone using Early Retirement Forum

 

[rayinpenn]

It is a game they can offer anything it's a test to see if you are desperate...
Just laugh and say no thanks ..l


Sent from my iPad using Early Retirement Forumh

 

[MRG]

We just got rid of a bunch of nice furniture and electronics. Figure five cents on the dollar. Maybe slightly scewed as some of the electronics were expensive at that time and now pretty much obsolete. The good quality furniture was more like ten cents. You can sell on Craigslist but your dealing with craigslist. The people who showed did buy.

 

[HadEnuff]

I love craiglist, but there are people that will think they need to negotiate everything, or will expect me to write a manual for them. I tell them to shove it, and wait for a person who is serious.


Sent from my iPhone using Early Retirement Forum

it took me two months to give away a nice desk. Free.

 

[NW-Bound]

Ah, after all this thread hijack, what's another one?

My neighbor up in my high-country place ordered a California King mattress, and they delivered a regular King size by mistake. When they delivered the right size, they did not want the smaller one back.

My neighbor though he would have no problem giving it away, but turned out to be stuck with it for a few months. Up there in the boondocks, there's no Craigslist to advertise for a free spanking new mattress, and of high quality too.

It just happened that my son needed a mattress, so he rented a U-haul trailer to go 300 miles round trip to pick that up. One heck of a good deal, and my neighbors got their bedroom back to normal. Everybody wins.

 

[unno2002]

Welcome to the marketplace. People want to sell. People make offers to buy. Deal with it. We've got a home we've wanted to sell for a long time, it is still " on the market"...

 

[UpAnchor]

I've sold quite a few things on CL with widely varied results. Photography equipment, drop dead simple. Furniture, a real pita. Tried like heck to give away a very high quality, but quite worn, sofa a couple of years ago. I could barely count the "no-shows" on both hands. Finally had enough of that so decided to hang a price on it of $150 and sold it for $100. All on CL. So, yeah. In my experience - and pertinent to the original post - used furniture is a tough one.

 

[Scuba]

My experience is that even in a difficult market, well-priced property will sell. I like to price property a bit lower than what it might be worth and try for multiple offers. Worst case, no multiple offers but at least it sells quickly and carrying costs stop sooner.
Agree with others about selling used furniture. We have sold loads of it over the years in excellent condition. It's much easier to sell cheap stuff than nice stuff. IKEA bookcases, used lower end appliances will sell quickly but high end furniture, if it sells at all, brings in almost nothing.

 

[youbet]

Low priced used furniture is tough to sell or even give away because the task of picking it up isn't possible for most people. And because the furniture isn't worth much, it doesn't make sense to pay someone else to move it.

In the past, I've disassembled furniture into pieces I could handle and put it in the garbage just to get rid of it.......

 

[W2R]

Low priced used furniture is tough to sell or even give away because the task of picking it up isn't possible for most people. And because the furniture isn't worth much, it doesn't make sense to pay someone else to move it.

In the past, I've disassembled furniture into pieces I could handle and put it in the garbage just to get rid of it.......

Our trash collection will pick up large items one day each week. However, I have never put anything out that didn't disappear within an hour or so. I often wonder how the scavengers manage to come up with a truck so fast.

 

[gayl]

People get too emotionally attached to the selling of a HOUSE. Stop looking it like your HOME. If you get an offer that offends you, simply ignore it.




And yeah. That is NOT a sellers market. We have a seller's market here...current average days on market for my neighborhood is about 7 days and selling price for the last 3 houses has been in excess of asking price. *IF* we reasonably believe that we can sell ours at price X, it will be put on the market...immediately. I personally think a RE bubble is coming...at least around here. Rents aren't keeping pace with the great increase in home selling prices and that's a bad sign.

Listed on Friday, open house Saturday, three bids within a hour, settled on one 12% over asking with 21 day close .... closing MONTHS later isnt a sellers market and no way in he!! would I agree to that

 

[Katsmeow]

I know nothing about your house and it may well have a market value that is every penny of what you are asking for. Some people make a lowball offer because they are hoping for a good deal and figure that there is no reason not to try. In that case, from a seller perspective, I don't take that as an insult. It is simply an unacceptable offer if it is too low. Personally I would respond with what I think is reasonable and simply see what happens.

But, I also remember the house that I made a lowball offer on about 10 years ago. It was in a reasonably good market at the time. I looked at a house and liked the location a lot and there were many things I liked about the house. But it seemed priced high. I looked carefully at comparable sales and determined that the house was overpriced. I went through my analysis with my real estate agent to see if I was missing anything. I wasn't. I made an offer and asked my agent to explain to the seller's agent why we were making the offer we were making. It was definitely what the seller might think was a lowball offer -- but what we felt reflected the actual market value of the home. The seller was very insulted by our offer and refused to even counter. So, we moved on.

A month or so later when we were under contract on the house we ultimately bought, the seller's agent came back to our agent and asked if we still had any interest. I think by then the seller's agent had convinced the seller that the price was too high. But, of course, by then we were under contract elsewhere.

The point is that sometimes a "lowball" offer actually reflects the market value of the home. I am not saying that is true in your case, but sometimes it is true.

 

[FIREmenow]

Low priced used furniture is tough to sell or even give away because the task of picking it up isn't possible for most people. And because the furniture isn't worth much, it doesn't make sense to pay someone else to move it.

In the past, I've disassembled furniture into pieces I could handle and put it in the garbage just to get rid of it.......

I'm I long time buyer of all of everyone's unwanted furniture on Craigslist. Have scored some unbelievable deals. Thank you.

 

[Quantum Sufficit]

I'm with Moemg...you built what you say is a 700K house that is "perfect" but have decided to leave..Why? I hope you keep this thread updated so we find out if you sell and at what price.A 100K earnest money payment? Is that what you mean when you say 100K down payment?That would be a walking issue for me.

If you think the market is so strong why are you listing 12 months ahead of moving time?

Life happens. Namely, i hate yardwork!


Sent from my SM-N920V using Early Retirement Forum mobile app

 

[ivinsfan]

Life happens. Namely, i hate yardwork!


Sent from my SM-N920V using Early Retirement Forum mobile app

Really? you can hire a lot of yardwork for the selling fees on a 700K house.6% of 700K is over 40 thousand dollars. Is there a price point where you won't pull the trigger on a sale, I can't tell if you have already purchased home number 2.

 

[dallas27]

This thread is a treatise on nonsensical economics.


Sent from my iPhone using Early Retirement Forum

 

[aja8888]

This thread is a treatise on nonsensical economics.


Sent from my iPhone using Early Retirement Forum

There is also a lot of the details not told by the OP as to why the early sale on a house that was their "dream home". Speculating on unknowns is just a waste of time.

 

[Big_Hitter]

This thread is a treatise on nonsensical economics.


Sent from my iPhone using Early Retirement Forum

about a year ago some cali transplants bought a house in our neighborhood

6 months later it was for sale, so I go in the open house, "hey, what's the dang deal?"

"lady decided she didn't like walking her kid in the foothills so they decided to move down the street 2 miles where it's flat"

so they put it on the market asking 6% more than they paid for it

truth is stranger than fiction