Counter-Counter-Counter-Final-Offer

[squad]

So I made a counter-counter offer which was much fairer then my original. I came up about 5.5%, which was vaguely in the middle (toward my side). I expected them to counter-counter-counter/final about 1.3% higher, which I would be willing to take

Comments

[eile]

*crosses fingers*

I hope it all works out. Very exciting.

If people can make major purchases right now, now is the time.

[draxius]

The questions in my mind revolve around the taxes as well as what the reasons for the closing deadline were.

If you take the house a month later, and the taxes are significant, you may be able to come close on breaking even for dropping a month or so of tax in your name. In which case, the 1.3% you're concerned with may translate to anywhere from 0.3-0.8%, which could be advantageous to you.

In contrast, unless you're willing to go for a long rate lock-in, your rate will likely be higher the later you close as mortgage rates can only stay at record lows for so long...

If they're still early in their mortgage and are trying to get it taken care of, you may save them a grand or so in interest by buying a month early... and save them the extra taxes besides... so it might be in there best interests to take the early closing but credit you for the early buy-out just to get the deal done...

Hmm. Lots of variables. My inclination would likely be to go for it, but I'd need to know more if it was my own money. ;)

[hope4jessica]

For that area I would say it is a good deal... If you like the house. Otherwise just figure out if you could afford to keep the house with one salary for a bit just in case...

[aakin]

So your initial offer was 13.5% below their list, and your final settlement price would be 12% below their list?

Well done.

Also, remember that any flaws that the inspector/engineer finds can be used to negotiate the price down by the estimated repair cost. This would be a negotiation with the initial price set as the value you negotiated here, so you can drive the final agreed on value even lower once the inspection happens.

[squad]

Will dig some up soon!