Shouldn’t Real Estate Sellers Take Less If We Make A Reasonable Offer?
Question: We recently sold our house in one state at a loss and now want to buy in another state. We made an offer on a home that was about 5 percent below the asking price. Our offer was rejected. What can we do to make the owners more reasonable?
Answer: Who says the owners aren’t reasonable? They have established a market price for their home. If they can get that price within a time frame acceptable to them, then they have logically priced their home. If the price cannot be obtained, either they will lower the price or the property will be withdrawn from the market.
That your experience in a different market made selling at a loss acceptable does not mean the same logic applies in other markets, or that your choice should in any way impact other owners in other markets. Perhaps it would make sense to re-structure your offer — maybe raise your price, seek better terms or both.
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