My house has been listed since October 2024, and I'm under a one year contract. My price is currently 40 K lower than my original listing price. My realtor was convinced I could aim high with my price but in reality, my house is more updated than my neighborhood but I have a smaller square footage than my neighborhood comps. My realtor, his broker and I think our current price is spot on, based on recent sale comps.
I am currently listed at a price that is lower than what I paid for the house. After fees and closing costs of course, I'll be losing about 70k on the house. If I don't go any lower, I can afford to buy my next house.
In that time I've gotten two offers, both accepted under the current listing price. Both offers went to inspection, which showed no red flag issues with the home. Both times, the buyers countered their original offer during the inspection period. The first buyer wanted $11,000 in closing cost assistance, and $6000 back at closing for a larger breaker box (not necessary, inspection noted the 150 amp breaker was adequate). I countered with an additional 2k reduction and they backed out of the deal.
The second buyer originally offered 10 K under listing, but countered to request additional 2500 in closing cost assistance as well as cosmetic changes, like changing out ceiling fans, changing the aesthetic on the outside flood lights, (both requiring receipts from an electrician) replacing the mesh from a retractable screen (we had a puppy and she pushed it out in one corner), and changing cabinet pulls.
In my eyes, for the second offer, 10k in reduction more than covers the aesthetic choices and screen repair they would like to make for the house. I denied the request and sale fell through.
I'm a cash buyer on my next house, so if I reduce my price again, I will flat out be unable to afford to move. Can I just.... not accept any more lower offers? I don't want to be in breach of contract with my realtor but also not in a position to be going any lower in price or my family will essentially wind up homeless.
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source https://www.reddit.com/r/RealEstate/comments/1l3wtmh/removing_house_from_mls_or_just_stick_to_my_price/
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