House #1 First Offer

I received an offer this afternoon from someone who looked at the house earlier today.  The house has only been on the market for 9 days, so this is great news!

I was somewhat expecting the first offer(s) to be lowball offers to open up negotiations, but this offer came in at around 94% of the asking price with me contributing $3,000 towards closing costs.  Tomorrow morning I’m having my agent call the other agents who have shown the property to see if their buyers are interested in placing an offer.  If they are not, I plan on countering this offer at $2,500 more than the buyer’s offer with me still contributing $3,000 towards closing.  However, even if we get the house under contract, I’m not sure what to expect on the appraisal.  The comps in the area are not as good right now because more foreclosures are hitting the market.  I don’t want to lose this buyer either way though, so wish me luck!

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>