We are first time homebuyers (New Jersey) and using a Redfin agent as our buyer’s agent.
A house we liked is listed for $875,000 which is little overpriced according to comps.
We offered $815,000 with 10% down to start the negotiation. The seller didn’t counter, so we put an another offer $830,000 with 10% down (since we love the house)
And we got reply from our agent that:
“The listing agent came back and said their counter was 862k...she may get them to come down to 850k...But instead of going back and forth, please let me know if your willing to come up or will 830k be your final and best so I can inform them. Thanks.”
Does buyer’s agent ask for best and final offer usually? Do you think it’s time to change the buyer’s agent as it seems like our agent doesn’t feel like going back and forth with the seller’s agent?
That is a Very appropriate reply from your agent. They are simply asking if $830 is your highest, and letting you know you'll probably have to go to $850k. They are giving you knowledge, not trying to avoid "going back and forth".
That definitely is the appropriate response from your agent. In this market, you only have so many times to put in an offer on a property before it is gone. It seems like this is a multiple offer situation and you coming up to $850k would still keep you in the competition with the other offers.
If you still want to keep your offer at 830 remember that would be the final offer you place and there is no going back and revising it.