Skip to main content

Input needed on negotiation tactic

MOD's please delete if not allowed, as I'm new here looking for some help.

​

Need help or input on a negotiating tactic I have in mind

Summary:

  1. Listed house and got an above ask
  2. Septic inspection failed and reported - so a black mark on the listing/property now if we relist
  3. Contingencies: buyers waived all contingencies other than an addendum for Septic (which was just an addendum to mention they could be onsite during inspection) -- Kicker: their earnest converted to us and is deposited
  4. Our thinking and counter offer ("negotiation tactic") to anything they come back with after their inspection is:
  • Wondering if they are trying to back-out due to market conditions or to try to use issue as leverage (thinking they'll get their earnest back - we don't meet the buyer ever so we don't know if they understand this point)
  • Completely new septic shouldn't cost more than lets say $40k
  • Offer: Some negligible amount off original offer + Cash for our portion into escrow (portion TBD)

​

Sorry for the long-winded write-up, just want to get any information out.

Is this concept viable? Open to feedback or other tactics. Extra bonus if you also have thoughts on how to market it (if we choose to not fix) if relisting.

​

EDIT: grammar, removed some detail

​

submitted by /u/TravelingNomader
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/us6ngp/input_needed_on_negotiation_tactic/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more