(Closed) How Many Offers: Asking Price vs. Sale Price: Seller’s Assist

posted 8 years ago in Home
Post # 3
Member
5670 posts
Bee Keeper
  • Wedding: August 2010

1) We put in four offers before our offer was accepted.

2) We offered asking price for the house in which we are under agreement. Everything is a bidding war in our area and now homes are selling below asking price.

3) Sorry, I’m not sure what a seller’s assist is.

Post # 4
Member
1074 posts
Bumble bee
  • Wedding: May 2009

We made offers on two houses. The first we got outbid on.

The house we ended up with we:

1. Offered $7k below asking with 6% sellers’ assist for closing cost.

2. They countered with full asking price + 6%

3. We settled on $5k below asking with 4% sellers’ assist (if I’m remembering correctly).

 

The seller’s assist with closing really helped us out. 🙂

 

http://www.brokeroutpost.com/reference/52483.htm

Post # 5
Member
14186 posts
Honey Beekeeper
  • Wedding: June 2009

We paid 33K below asking. We ballparked our first offer like 50K under the asking price and then settled after 3 or 4 offers. Her home had been on the market for about a year, also.

We also negotiated for the seller to pay all the closing costs, to leave some large mirrors in the house, to leave the gas BBQ grill, and to leave the downstairs kitchen set.

Post # 6
Member
5670 posts
Bee Keeper
  • Wedding: August 2010

@JeniRae- Thanks for including that link, learn something new every day!

Post # 7
Member
4123 posts
Honey bee
  • Wedding: October 2010

We haven’t closed yet but here’s our details.

House: Foreclosure; on market about 3 months. Offer put in right before ours at 10k under asking.

1) We made one offer and that is what was accepted by the bank

2) Our offer was $5k under asking and after issues in the home inspection, we’ll be asking the price lowered by another 4-6k.

3) We asked for all closing costs etc to be paid by seller and was accepted.

Post # 8
Member
1317 posts
Bumble bee
  • Wedding: October 2010

Our story is far from final, but so far we’ve made 2 offers and negotiated $7000 off the initial price. We’re shooting for bringing it down to $14,000 off but will settle for $10,500. They don’t help with closing costs here since the seller pays the agent’s fees and the buyer pays for the inspection. If we decide not to get it after inspection, we’ll lose about $1000, but by then we’re in the position to seriously negotiate since the inital contract would have already been signed.

Post # 9
Member
3587 posts
Sugar bee

1- How many offers did you have to make before you got one accepted?

I’ve only offered on one and it was accepted by the sellers, still waiting on their bank.(short sale)

2- What was the final sale price of the house  vs. the asking price?

Sale price was $49,900, I offered $45,900. Still waiting on thier bank.LOL

3- Did you ask for seller’s assist – and if so, what percentage?

Not sure what that is, but using context clues I can answer.LOL All closing costs to be paid by seller and to leave all kitchen appliances.

Post # 10
Member
1523 posts
Bumble bee
  • Wedding: September 2010

1- How many offers did you have to make before you got one accepted

We only put an offer on the house we bought, but lost two other houses before that one before we even had a chance to put an offer down. Basically, we wanted to put offers down on those houses, but in the day that we were preparing to do so with the realtor the house would go under contract!

2- What was the final sale price of the house  vs. the asking price

We offered them $200 more than the list price because we knew there was already another offer in play. The house was listed as $—,800 so we rounded up.

3- Did you ask for seller’s assist – and if so, what percentage?

We had the sellers give us closing costs (3-4% I think). So, although we paid more then their list price for the house, they did pay all of our closing costs which knocked down the price of the house and allowed us to not have to front more cash.

 

Also, we are financed through an FHA loan and that worked out great for us. 🙂

Post # 11
Member
2767 posts
Sugar bee
  • Wedding: September 2009

1.  We put in one offer.  Then they counteroffered for a little bit higher price and said they wanted to keep the washer/dryer.  We then counteroffered and said that price would be fine but we wanted the washer/dryer.  They accepted that then.  (I don’t know why they were so insistent on the washer/dryer.  They were moving into a brand new house that they were building – don’t you think they would want new appliances and not the washer/dryer from 1990?  Some people are weird!)

2.  We got the house for only $1,500 less than they were asking.  Which I thought was a rip off.  But my bf (now husband) was buying the house at the time, not me.  We also bought it back in April 2007, before the market crashed.  So it was more of a seller’s market back then.  My family always moved around a lot though when I was growing up and my parents always said you should offer 10% less than asking price at least.  I was mad at my bf for not doing that.  But I suppose if he had done that we might not have got the house.

3.  I don’t know what this is.  Closing costs were paid for by the seller if that is what you are asking.

Post # 12
Member
2083 posts
Buzzing bee
  • Wedding: May 2010

1. We put in three offers on three different homes before the third was accepted

2. We paid only $3,000 over asking price

3. We asked for 2.5% incentives

Post # 13
Member
331 posts
Helper bee
  • Wedding: July 2010

We offered 10k under asking (house was a little over 200k, and they had just dropped the price a bunch–it was on the market awhile). They countered at 5k under asking. We accepted, but got them to knock another 1200 off the price after the inspection (no sellers assist or closing costs or anything).

On the flip side as a seller of a house under 200k, she offered 10% under asking. I came down a few thousand bucks, she countered again, and we finally settled about 5% under asking (no closing costs, assist, or anything like that).

The whole thing really just depends on how fairly the house is priced in the first place. If it is priced competitively, you may pay close to asking. If it is priced high, you may get more knocked off. Or, sometimes sellers price low hoping for a bidding war.

Really, you need a good real estate agent who knows your market and knows what a fair price is.

Post # 14
Member
1776 posts
Buzzing bee
  • Wedding: February 2011

1.  We shopped around a bunch and ended up putting offers on FOUR different houses.  One was a backup offer that we ended up pulling out of because we were sick of waiting (short sale).  The second house denied our offer because it was contingent on the sale of my condo.  After selling my condo, we made an offer on a house and ended up 2nd best after some rounds of counteroffers…VERY disappointing. 

2.  Our offer on the FOURTH house was accepted.  We made one offer 30k below asking price, which was rejected.  Then we countered 20k below asking, and they accepted!  We close in two weeks!

3.  We did not ask for the seller to pay closing costs because it is an estate sale.  They are, however, leaving all kitchen appliances and the washer/dryer set.

Post # 15
Member
3762 posts
Honey bee
  • Wedding: May 2010

1.  We looked at a lot of houses that we WANTED to put offers on, but majority of them were short sales and already had offers into the bank.  We formally placed on offer on a foreclosure and got outbid, and the second formal offer we got in, we bought!

2.  We originally asked for about 12% below the sellers asking price.  We were expecting them to come back to us between our offer and their asking price, but instead they came back MUCH closer to our offer!  We ended up asking for closing costs to be included (up to $6,000 I think) and they asked for the house to be sold AS IS (they had already moved out of state).

We ended up about 8% below the list price with our closing costs included.

Also, we were supposed to close the end of August (we had all our stuff in order) and they had to do some more paperwork.  We were able to move in without closing since the house was unoccupied and the delay was their fault.  We lived in our house rent/mortgage free for over a month before we finally closed.  All we had to do was pay for the utilities.  They maintained the homeowners insurance.

Post # 16
Member
1317 posts
Bumble bee
  • Wedding: October 2010

1- How many offers did you have to make before you got one accepted?

We made 3 offers and in the end accepted their offer. We ended up negotiating with the seller, it went like this:

  • Another couple started the bidding at 11.39% under the asking price.
  • Our first offer was 8.86% under asking price.
  • The sellers lowered their price to 1.27%
  • We countered with 6.33%.
  • The sellers immediately offered a 2.53% discount.
  • Our third offer was for 5.57%.
  • The seller said if we agree with a 5.06% discount, it’s ours!

2- What was the final sale price of the house  vs. the asking price?

We were aiming for a 5% discount and got just that, so we’re really happy about it.

3- Did you ask for seller’s assist – and if so, what percentage?

They don’t offer seller’s assist here.

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