I am so nervous about negotiating the price of the house...

There were some things wrong during the inspection and even thought they were minor, they add up to aroun $10,000 to fix everything. So, we were advised to ask the seller to fix some fo the things or lowere the price of the house. We told the agent that yesterday. She called us today and still has not talked to the seller because she thinks the seller will back out of the deal. I am so upset. Now what do we do. She told us to drop off the report and she will figure out something.

Re: I am so nervous about negotiating the price of the house...

I felt the same exact way, so we decided not to ask for everything that the engineer said, if we thought it wasn't safety related or if we felt we could do it ourselves. The seller did agree, for example, to bring the electrical up to code, but we agreed to take care of the new gutters ourselves.

The seller will most likely not just back out of the deal - they've invested too much time. At the very least, they'll say, 'no, take it or leave it' and then you can make a decision, at least feeling you tried!

Re: I am so nervous about negotiating the price of the house...

I hear ya girl. We just put an offer in this morning on an amazing house and now we sit and wait. But we sat outside the house in the car wondering how much we should even offer. Then I went home and binged on butterfingers LOL I was so nervous.

Re: I am so nervous about negotiating the price of the house...

This is what we are going through now. We have a contract on a house here in Chicago. Our inspection was on Tuesday and he discovered a roof that was about 20 yrs old and has rotting wood under one of the corners. He also discovered some minor electrical safety issues that won't cost much to fix.

It amazes me that they didn't fix the roof bc they completely gutted the whole interior of the house. Anything we do to the inside will be cosmetic. Our lawyer submitted the request to fix the roof and safety issues on Wed, we are still waiting to hear back from the seller's lawyer.

DH and I don't want to walk away, but 10K is alot for us to do on the roof right away. If they will credit us for at least half and do all the safety issues we will proceed.

I hope everything works out for both of us.

Re: I am so nervous about negotiating the price of the house...

We had the same situation and IMO, the agent did not try to help us at all. She kept telling us the weller would back out if we even suggested lowering the price.

I contacted my lawyer and had the lawyer contact the seller's lawyer - there was not one problem. The seller came down in price without any issue.

I think you should talk to your lawyer - don't be nervous!

ETA: I agree with KP - the seller won't usually just 'back out' - they usually counter with a take it or leave it offer.

Re: I am so nervous about negotiating the price of the house...

we just saw a townhouse today and we have no idea how much to offer. we know it's overpriced, but don't know what is 'fair'. the seller originally had it listed for 45K more and was forced to come down because no one bit.

now the sellers agent claims she has about 5 people interested, but no one willing to make an offer on paper. it's still overpriced. my guess is that they are all just as clueless and worried as we are to make the 'first move'...

Re: I am so nervous about negotiating the price of the house...

I thought there were certain things that were the sellers responsiblilty period, that is what we were told. Anything electrical I thnk was theirs PERIOD, I forgot what else.

Good luck

Re: I am so nervous about negotiating the price of the house...

The things like loose toilets, a CO and such - we felt were the sellers responsibility and we asked for them to be repaired.

Other things more major - like a new roof or windows - I knew weren't going to happen so I didn't ask for them but we kind of new that in advance so we budgeting that into our bid price.

My realtor kind of said the same thing to us (even when we low balled the bid) because the seller after accepting the bid said the house is as is and we went with our gut anyway. We knew what was important to us and what the house was worth and went from there. You have to figure how much is this house worth to you and what would happen if the seller did back out based on your requests. Once you know in your heart how you feel - it is easier.

Re: I am so nervous about negotiating the price of the house...

---

Posted by september2004

we just saw a townhouse today and we have no idea how much to offer. we know it's overpriced, but don't know what is 'fair'. the seller originally had it listed for 45K more and was forced to come down because no one bit.

now the sellers agent claims she has about 5 people interested, but no one willing to make an offer on paper. it's still overpriced. my guess is that they are all just as clueless and worried as we are to make the 'first move'...

---

Remember, the seller's agent is working for the SELLER, not you. The more the selling price, the more commision they get. Put in what you feel is a fair offer and be prepared to walk away. Though they may laugh at your offer at first, they may come crwaling back to you.