Seller counters above list price?

[Anonymous]

I thought turning down a full-price offer without good reason was illegal because of anti-discrimination laws--- much less boosting the price. I wonder if these sellers may be unwittingly on thin ice here, legally speaking.

[Anonymous]

I can't remember our situation exactly but I think we countered a list price offer. We received a contract the day after our open house and less than a week into listing the house. We had people calling us saying they were interested in submitting contracts so we felt like we had other options. We also listed our house a little low because we needed to sell quickly (we had bought another house). We could have sold it for the list price and been okay but we were hoping for more. This was in North Arlington. The sellers went over ($14k I think) and we had a great closing. Six years later I am still in contact with the buyers who are awesome.

[Anonymous]

Anonymous wrote:I'm with the PP who said to focus on how much you want the house and how much would be willing to pay for it, regardless of original list price or the seller's counter.

I paid asking for a house last year that I know was objectively overpriced. I did it because it was not overpriced for me. I paid what it was worth for me to be sure that we got the house of our dreams, to avoid losing out due to contingencies, etc., and to get it done quickly. We had very specific needs/wants out of a house and this was the first and only one that met those. It was worth it to us. (We are talking about a home under 600K, for reference).

But, if your original offer was what you were willing to pay, stick to your guns.

The rest is distraction.

+1

[Anonymous]

Anonymous wrote:I can't remember our situation exactly but I think we countered a list price offer. We received a contract the day after our open house and less than a week into listing the house. We had people calling us saying they were interested in submitting contracts so we felt like we had other options. We also listed our house a little low because we needed to sell quickly (we had bought another house). We could have sold it for the list price and been okay but we were hoping for more. This was in North Arlington. The sellers went over ($14k I think) and we had a great closing. Six years later I am still in contact with the buyers who are awesome.

Oh and I just remembered that another person put in an offer at list price and we countered and they walked away. That was before we had the open house and was a day after we listed. They obviously did not LOVE the house.

[Anonymous]

Anonymous wrote:Next month it will cost 10% you snooze you lose

And by end of 2015 it will be worth 50% less when Yellen raises rates (as slipped out in her first press conference. )

[Anonymous]

Anonymous wrote:I thought turning down a full-price offer without good reason was illegal because of anti-discrimination laws--- much less boosting the price. I wonder if these sellers may be unwittingly on thin ice here, legally speaking.

It wasn't a straight-up cash offer. There were financial contingencies. The buyer had to get a mortgage, so there would be an appraisal and inspection. If the buyer offered full price with cash and no contingencies, then the seller would be on thin ice if he/she refused or raised the price.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:What % is $30k more? Are we talking a 4% increase on a $750k house? Or are we talking a 1.5% increase on a $2m house? I think that makes a difference.

House is listed for less than 750.

Ah, could it be http://www.mcenearney.com/property/28792404/1108-CROSS-DR-ALEXANDRIA-VA-22302

Good try!But this house you show is under contract.

Why would you guess this house? Curious because I put an offer in and lost. Really disappointed. Loved that house.

Because it was listed under-priced.

How underpriced in your estimation? Really want to move near there and need to prepare for the nexy one in our range. Loved that house. Wish I had known it was so underpriced as to warrant comment here.

[Anonymous]

Anonymous wrote: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?

How did your realtor react?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I thought turning down a full-price offer without good reason was illegal because of anti-discrimination laws--- much less boosting the price. I wonder if these sellers may be unwittingly on thin ice here, legally speaking.

It wasn't a straight-up cash offer. There were financial contingencies. The buyer had to get a mortgage, so there would be an appraisal and inspection. If the buyer offered full price with cash and no contingencies, then the seller would be on thin ice if he/she refused or raised the price.

I don't ge why this myth persists. A seller may refuse to sell even if they get a full price non contingent offer. A seller can't be compelled to sell their house. They can't refuse to sell for a protected reason, but they can refuse to sell for no reason.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What % is $30k more? Are we talking a 4% increase on a $750k house? Or are we talking a 1.5% increase on a $2m house? I think that makes a difference.

House is listed for less than 750.

Ah, could it be http://www.mcenearney.com/property/28792404/1108-CROSS-DR-ALEXANDRIA-VA-22302

Good try!But this house you show is under contract.

Why would you guess this house? Curious because I put an offer in and lost. Really disappointed. Loved that house.

Because it was listed under-priced.

How underpriced in your estimation? Really want to move near there and need to prepare for the nexy one in our range. Loved that house. Wish I had known it was so underpriced as to warrant comment here.

$30,000.00

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What % is $30k more? Are we talking a 4% increase on a $750k house? Or are we talking a 1.5% increase on a $2m house? I think that makes a difference.

House is listed for less than 750.

Ah, could it be http://www.mcenearney.com/property/28792404/1108-CROSS-DR-ALEXANDRIA-VA-22302

Good try!But this house you show is under contract.

Why would you guess this house? Curious because I put an offer in and lost. Really disappointed. Loved that house.

Because it was listed under-priced.

How underpriced in your estimation? Really want to move near there and need to prepare for the nexy one in our range. Loved that house. Wish I had known it was so underpriced as to warrant comment here.

$30,000.00

Really? Why?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought turning down a full-price offer without good reason was illegal because of anti-discrimination laws--- much less boosting the price. I wonder if these sellers may be unwittingly on thin ice here, legally speaking.

It wasn't a straight-up cash offer. There were financial contingencies. The buyer had to get a mortgage, so there would be an appraisal and inspection. If the buyer offered full price with cash and no contingencies, then the seller would be on thin ice if he/she refused or raised the price.

I don't ge why this myth persists. A seller may refuse to sell even if they get a full price non contingent offer. A seller can't be compelled to sell their house. They can't refuse to sell for a protected reason, but they can refuse to sell for no reason.

True, but wouldn't the seller would be obligated to pay the realtor's commission?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought turning down a full-price offer without good reason was illegal because of anti-discrimination laws--- much less boosting the price. I wonder if these sellers may be unwittingly on thin ice here, legally speaking.

It wasn't a straight-up cash offer. There were financial contingencies. The buyer had to get a mortgage, so there would be an appraisal and inspection. If the buyer offered full price with cash and no contingencies, then the seller would be on thin ice if he/she refused or raised the price.

I don't ge why this myth persists. A seller may refuse to sell even if they get a full price non contingent offer. A seller can't be compelled to sell their house. They can't refuse to sell for a protected reason, but they can refuse to sell for no reason.

True, but wouldn't the seller would be obligated to pay the realtor's commission?

Only I the seller signed a bad contract. That clause should be written to say the offer needs to have terms acceptable to the seller.

[Anonymous]

Location:
-Easy commute via I395 to D.C.; bus route-Metro, bike paths
-Close to schools, public or private
-Close to two new food stores, USPS, coffee shops (all walkable) and Pentagon Mall area for shopping
-Chinquapin Recreation within walking distance

House:
-Nice upgrades (kitchen, baths)
-Better than average maintenance: new well picked and done paint, adequate windows for light, HVAC
(minus one visible crack in driveway near door)
-3 BR, 2 1/2 B with nice master bedroom/bath
-Clean bright basement showing obvious care (well lit, clean and supported ducts (could be wrapped to insulate easily), floor and walls w/o cracks, single panel electric, heating unit not aged, but perhaps older hot water heater).
-Roof not visible to assess however

Yard:
Nice low maintenance lot with shrub evergreens but easy to work with landscape and gardening

Great starter home for couple or family with kids home, walkability, nice neighborhood, reasonable taxes, inside Beltway

[Anonymous]

^^ Above for 21:08