Reply to Seller counters above list price?

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Reply to "Seller counters above list price?"

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[quote=Anonymous][quote=Anonymous]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%.[/quote]

A few weeks ago, I saw a home I liked and offered list price with standard contingencies (e.g., the offer was subject to inspection and appraisal for mortgage approval (I am pre-approved and had a significant down-payment)).  It was one of the snowy weekends, and I guess foot traffic was light.  My offer was rejected allegedly due to the contingencies and without any counter offer.  The sellers agent suggested, however, that the house was intentionally priced "low" and to create a bidding war, and suggested a higher bid from me.  I walked away from that home, and I see that it sold for $10K more the next weekend.

Long story short, the OP has no leverage.  That house will sell in the near future.  The OP has shown that the market will at least support the list price.  The seller is willing to wait for a higher offer, and is not worried about paying the agent.  [/quote]

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