Our first attempt at buying a property was an old house across the street from an indoor public pool and arena. This was attractive to me as I use the city pools regularly. Having it across the street would be convenient.
Several people expressed concern about the traffic, but we decided that it could probably be purchased at a low enough price to make it worthwhile.
It had been listed last year for $60,000 lower than the current asking price. It didn't sell, and the owners took it off the market in October. Sure, the market is hotter now than it was then, but if nobody wanted it then for the lower price, it's not likely to go for that much more now. So we offered a little more than they had been hoping for last year.
They rejected it. No counter, a flat out rejection. Our agent suggested increasing the price and offering again. I told him I wasn't comfortable going too much higher as a bigger property had sold the day before for less money. That means more money per square meter. The agent said that people don't care about square meters, they care about lot dimensions. Apparently math isn't a big subject in real estate school.
But we went up a little, to our maximum, which was an extremely odd number due to compensation for the fact that the seller was using a discount realtor. After we submitted, we got a call that another offer was coming in and would we go higher. We said no. They rejected our offer and increased their list price. Yes, increased their asking price. Supposedly they have 2 offers, and rather than accept either, they just ask for more? Whatever. They can keep their little lot on a busy street.
Several people expressed concern about the traffic, but we decided that it could probably be purchased at a low enough price to make it worthwhile.
It had been listed last year for $60,000 lower than the current asking price. It didn't sell, and the owners took it off the market in October. Sure, the market is hotter now than it was then, but if nobody wanted it then for the lower price, it's not likely to go for that much more now. So we offered a little more than they had been hoping for last year.
They rejected it. No counter, a flat out rejection. Our agent suggested increasing the price and offering again. I told him I wasn't comfortable going too much higher as a bigger property had sold the day before for less money. That means more money per square meter. The agent said that people don't care about square meters, they care about lot dimensions. Apparently math isn't a big subject in real estate school.
But we went up a little, to our maximum, which was an extremely odd number due to compensation for the fact that the seller was using a discount realtor. After we submitted, we got a call that another offer was coming in and would we go higher. We said no. They rejected our offer and increased their list price. Yes, increased their asking price. Supposedly they have 2 offers, and rather than accept either, they just ask for more? Whatever. They can keep their little lot on a busy street.
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