So my hubby and I put in an offer on a house that has been on the market for 140 days and initially listed at $189k then went to $179k. We offered $150k because it is outdated. They just counter offered with $172k. How should I interpret this? Do they want to make a deal? And if so, what's the next step or offer?
Just looking for some feedback.
Stick to your end game
Fix and Flip?
Buy and Hold?
find out your end numbers and profits or cash flow after rent. and stick to that number.
Sounds like they are not as motivated to drop price
@Kelly Tucker First and foremost what is the max price you want to pay for this property?
If it is 150K then reject their counter or let it be and wait it out until it drops again. If it's more then name your max price and have your agent tell them it's the best you would do.
We are planning to do a live-in flip.
Our max is $160k...
Make your max offer and if they don't accept it, move on to the next deal.
Why did you offer 150 in the first place? If it was a number you picked out of the air, then just keep picking numbers.
If you analyzed it and came up with 150k because the numbers told you to offer that...then offer 150 again...the numbers don't lie.
If you offered 150 because the numbers told you your magic number was somewhere in between...then counter somewhere below your magic number...and NEVER go over it
Always remember this. You are NOT a property collector...you are a PROFIT collector
@Kelly Tucker In that case counter offer at 160K and have your agent mention it's the last and best offer.