My wife and I saw a house Sunday in a very popular neighborhood in Huntersville, NC and liked it a lot. It was listed as 1,581 sq ft and they were asking $205,000, making it $5/sq ft more expensive than the highest similar comps in the past 12 months as well as one of the oldest (built in 1989). Highest similar sale in this subdivision was listed and sold for $209,000, it was only about 70 sq ft bigger but equally updated, built in 1995 and almost double the lot size.
Based on all this we offered $200,000 with appliances (2 year old SS refrigerator and front load washer and dryer), 28 day closing and conventional loan with 20% down. Monday morning their agent calls ours and said they received multiple offers but ours was "most favorable" to them and rather than asking for highest and best they countered at $210,000. We countered again with $200,000 and no appliances around 11 am. Didn't hear anything back until 6:30 pm when their agent sent ours an updated floor plan done by her appraiser today that listed the house at 1754 sqft up from 1581. They also said they had 6 offers and are asking for highest and best by noon Tuesday but said our conventional 80% LTV leaves us "heavily favored". On the disclosure they checked "no representation" for problems with the foundation, floors, windows, int and ext walls, garage, patio etc and put "unknown" under type of water pipe material and the exterior is the original wood on sheathing siding. All these factors have got me very worried about offering now. We love the house and area and it's way below our max budget but the way things transpired today make me think we're offering too high and they're just baiting us for more money or something. If our original offer was most favorable why did they counter above list price then open it back up to highest and best after re-measuring the sqft? And the disclosure makes me think they don't want to check for rotting siding and wall sheathing because they'll probably find a problem.
Sorry for the wall of text, just looking for advice or suggestions on what we should do. Offers are due by noon Tuesday so should we pull our offer, stick with the original $200,000 with appliances or offer their counter of $210,000 with appliances? Thanks
Submitted April 21, 2015 at 12:03PM by mer-mer-mer-mer-mer http://ift.tt/1yKYIxm RealEstate
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