Reply to Trying to get over the over priced house we just bought

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[quote=Anonymous][quote=Anonymous]Really stupid to not ask for closing credit. Don't know how you can spin it to anything else.[/quote]

Eh, you can't make this statement.  Even during the down market, it was hard to get closing help, because sellers get squeamish about the appraisal.  If there are multiple bids, frankly, a seller is more inclined to go with a lower overall offer price than a higher offer price that includes seller-paid closing, because at the end of the day, it reduces risk.

So no, it's not stupid to not ask for closing credit.  It all depends on the list price, comps, the market, whether there are multiple bids.

I lost a bid on a house a year and a half ago (yeah, during winter when it was still a BUYER'S market) because I asked for closing help.  There was 1 other bidder who offered less than I did but didn't ask for closing help.  The seller went with that person.  I regret asking for closing help, because I could've afforded to pay the closing costs myself, and the house was worth it.  After I found and bought another house, for months I compared the house I bought to the "one that got away."

I'm convinced that no one ends up completely happy in real estate transactions, except maybe the lucky person who bought in the 1990s and sold in 2004/5 and made a crap ton of money and moved to a lower-cost area and was able to buy their dream retirement house for cash.  But outside of that scenario, in this area, it's just bizarre and usually painful, filled with uncertainty and rife for buyer's remorse.  But you have to just do the best you can, then let it go, and live your life.[/quote]

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