Seller counters above list price?

[Anonymous]

We submitted a clean list price offer (no seller credits) on a house in a popular area that has been on the market about a week. There are no other offers on the house. The seller countered at $30k above list price! We are flabbergasted. Has anyone ever seen anything like this before?

[Anonymous]

They don't want you to buy their house. Maybe they don't want to sell their house anymore, maybe they think they priced their house too low, maybe they are holding out for better offers. All you can do is respond. Did your realtor ask why?

[Anonymous]

Did they price it low hoping for a bidding war? I recall something similar happening to friends of mine trying to buy in San Francisco back in the frothy days. Their list price offer was rejected.

[Anonymous]

Our realtor thinks they thought this price would start a bidding war. But it didn't, and in this area that is a sure sign it's overpriced. In any case, we have no intention of paying above list. Why would someone else offer more now that it is not a competitive offer situation? It clearly is worth at most list price.

Maybe they don't really want to sell (or don't want to sell to us, not sure why though).

[Anonymous]

I would counter back with $30,000 below list price. Seriously.

[Anonymous]

Anonymous wrote:I would counter back with $30,000 below list price. Seriously.

Only if you have no desire to actually get the house, and just want to give seller the middle finger. Lowering your offer is just creating animosity.

I'd get your agent to seek an explanation. Then, assuming the explanation does not change your mind, counter at the same list price with a time limit on accepting your offer. Steel yourself to walk away if necessary.

Alternatively, think about whether there are any non-monetary asks you can make (closing date? Seller fixes something? Appliances you want to convey?) in exchange for raising your offer slightly. That way, seller gets the satisfaction of thinking she "won" by forcing your offer up, but you end up just as happy.

Sounds very frustrating.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I would counter back with $30,000 below list price. Seriously.

Only if you have no desire to actually get the house, and just want to give seller the middle finger. Lowering your offer is just creating animosity.

I'd get your agent to seek an explanation. Then, assuming the explanation does not change your mind, counter at the same list price with a time limit on accepting your offer. Steel yourself to walk away if necessary.

Alternatively, think about whether there are any non-monetary asks you can make (closing date? Seller fixes something? Appliances you want to convey?) in exchange for raising your offer slightly. That way, seller gets the satisfaction of thinking she "won" by forcing your offer up, but you end up just as happy.

Sounds very frustrating.

I disagree with this. I would definitely counter with a price lower than list at this point. You have all the leverage since the seller probably owes a commission to his/her agent by virtue of receiving an offer at list price that s/he rejected. So, if you walk, they still have to pay their agent 5 or 6%.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I would counter back with $30,000 below list price. Seriously.

Only if you have no desire to actually get the house, and just want to give seller the middle finger. Lowering your offer is just creating animosity.

I'd get your agent to seek an explanation. Then, assuming the explanation does not change your mind, counter at the same list price with a time limit on accepting your offer. Steel yourself to walk away if necessary.

Alternatively, think about whether there are any non-monetary asks you can make (closing date? Seller fixes something? Appliances you want to convey?) in exchange for raising your offer slightly. That way, seller gets the satisfaction of thinking she "won" by forcing your offer up, but you end up just as happy.

Sounds very frustrating.

This is what I'd do. Or if you really want the house, counter at $1,000 more than asking.

This just happened to my cousin- they made a clean offer at asking and the owner countered above asking. My cousin just walked away. Obviously some sellers are getting greedy in this market. If no one offers above asking the first week, they're not getting a bidding war and should be glad to accept a full offer price.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I would counter back with $30,000 below list price. Seriously.

Only if you have no desire to actually get the house, and just want to give seller the middle finger. Lowering your offer is just creating animosity.

I'd get your agent to seek an explanation. Then, assuming the explanation does not change your mind, counter at the same list price with a time limit on accepting your offer. Steel yourself to walk away if necessary.

Alternatively, think about whether there are any non-monetary asks you can make (closing date? Seller fixes something? Appliances you want to convey?) in exchange for raising your offer slightly. That way, seller gets the satisfaction of thinking she "won" by forcing your offer up, but you end up just as happy.

Sounds very frustrating.

I disagree with this. I would definitely counter with a price lower than list at this point. You have all the leverage since the seller probably owes a commission to his/her agent by virtue of receiving an offer at list price that s/he rejected. So, if you walk, they still have to pay their agent 5 or 6%.

Is it true that they would owe their agent commission if they reject our offer? My inclination is just to walk - we don't feel that strongly about the house and we are very put off by this. I don't enjoy the idea of dealing with these sellers any further.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I would counter back with $30,000 below list price. Seriously.

Only if you have no desire to actually get the house, and just want to give seller the middle finger. Lowering your offer is just creating animosity.

I'd get your agent to seek an explanation. Then, assuming the explanation does not change your mind, counter at the same list price with a time limit on accepting your offer. Steel yourself to walk away if necessary.

Alternatively, think about whether there are any non-monetary asks you can make (closing date? Seller fixes something? Appliances you want to convey?) in exchange for raising your offer slightly. That way, seller gets the satisfaction of thinking she "won" by forcing your offer up, but you end up just as happy.

Sounds very frustrating.

I disagree with this. I would definitely counter with a price lower than list at this point. You have all the leverage since the seller probably owes a commission to his/her agent by virtue of receiving an offer at list price that s/he rejected. So, if you walk, they still have to pay their agent 5 or 6%.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I would counter back with $30,000 below list price. Seriously.

Only if you have no desire to actually get the house, and just want to give seller the middle finger. Lowering your offer is just creating animosity.

I'd get your agent to seek an explanation. Then, assuming the explanation does not change your mind, counter at the same list price with a time limit on accepting your offer. Steel yourself to walk away if necessary.

Alternatively, think about whether there are any non-monetary asks you can make (closing date? Seller fixes something? Appliances you want to convey?) in exchange for raising your offer slightly. That way, seller gets the satisfaction of thinking she "won" by forcing your offer up, but you end up just as happy.

Sounds very frustrating.

I disagree with this. I would definitely counter with a price lower than list at this point. You have all the leverage since the seller probably owes a commission to his/her agent by virtue of receiving an offer at list price that s/he rejected. So, if you walk, they still have to pay their agent 5 or 6%.

Probably not. This is only true if the offer has no contingencies and OP probably needed a mortgage.

OP, unless this is the house of your dreams and you cannot live without it, I would walk. Looks like you entered a headache.

[Anonymous]

If above list is the fair price who cares if you are paying above list.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I would counter back with $30,000 below list price. Seriously.

Only if you have no desire to actually get the house, and just want to give seller the middle finger. Lowering your offer is just creating animosity.

I'd get your agent to seek an explanation. Then, assuming the explanation does not change your mind, counter at the same list price with a time limit on accepting your offer. Steel yourself to walk away if necessary.

Alternatively, think about whether there are any non-monetary asks you can make (closing date? Seller fixes something? Appliances you want to convey?) in exchange for raising your offer slightly. That way, seller gets the satisfaction of thinking she "won" by forcing your offer up, but you end up just as happy.

Sounds very frustrating.

I disagree with this. I would definitely counter with a price lower than list at this point. You have all the leverage since the seller probably owes a commission to his/her agent by virtue of receiving an offer at list price that s/he rejected. So, if you walk, they still have to pay their agent 5 or 6%.

Probably not. This is only true if the offer has no contingencies and OP probably needed a mortgage.

OP, unless this is the house of your dreams and you cannot live without it, I would walk. Looks like you entered a headache.

Yes, our offer had a financing contingency. By clean I just meant it netted the sellers their full asking price.

We will probably walk away. It is not the house of our dreams.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I would counter back with $30,000 below list price. Seriously.

Only if you have no desire to actually get the house, and just want to give seller the middle finger. Lowering your offer is just creating animosity.

I'd get your agent to seek an explanation. Then, assuming the explanation does not change your mind, counter at the same list price with a time limit on accepting your offer. Steel yourself to walk away if necessary.

Alternatively, think about whether there are any non-monetary asks you can make (closing date? Seller fixes something? Appliances you want to convey?) in exchange for raising your offer slightly. That way, seller gets the satisfaction of thinking she "won" by forcing your offer up, but you end up just as happy.

Sounds very frustrating.

I disagree with this. I would definitely counter with a price lower than list at this point. You have all the leverage since the seller probably owes a commission to his/her agent by virtue of receiving an offer at list price that s/he rejected. So, if you walk, they still have to pay their agent 5 or 6%.

Probably not. This is only true if the offer has no contingencies and OP probably needed a mortgage.

OP, unless this is the house of your dreams and you cannot live without it, I would walk. Looks like you entered a headache.

I took the description of the offer being "clean" to mean no contingencies. OP's need for a mortgage wouldn't affect the "willing and able" clause. It would all depend on the contract language, of course.

[Anonymous]

Hah, think the sellers are annoying now, wait until inspection contingency negotiation.

Walk away now.