House hunting help - dream home found

Only we can't afford it.

It's my dream home. But its about $100K out of our price range. Here's the story - It's been on the market for 226+ days. It is a gut renovation by a young Manhattanite couple who thought they wanted to move to the burbs . . . and want out. So, they thought they would be living there and the reno is top notch. Is there anything we can do - or should I just forget about it. I'm hoping maybe there is an angle for making an offer we hadn't thought of.
ETA: it's 4 bed, 2 bath. sorry.

It originally sold in 08 for $325.

Please don't quote . . . will remove my personal info. Thanks.

Re: House hunting help - dream home found

I say put in an offer for what you can afford and see what happens. In this day and age, you never know. If they want out bad enough, maybe they'll accept it.

Re: House hunting help - dream home found

have you seen the house? can you go to an open house whent eh couple is there?

sometimes emotions play into ppls decisions (if they arent totally desparate for $$). if they get a good vibe from you, maybe they can figure something out.

good luck!!!!

and just do it! sounds AMAZIING

Re: House hunting help - dream home found

I'm no good at this (which is why I'm dreading buying a house) but you should re-post this on the Home board on LIF. They are GREAT with these kinds of questions, there's even a few realtors over there who are SO helpful.

Re: House hunting help - dream home found

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Posted by Lsorrent

I say put in an offer for what you can afford and see what happens. In this day and age, you never know. If they want out bad enough, maybe they'll accept it.

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what she said


if it doesnt work out imo going foward dont look at houses that are out of your budget

whats the listing number?

Re: House hunting help - dream home found

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Posted by Lsorrent

I say put in an offer for what you can afford and see what happens. In this day and age, you never know. If they want out bad enough, maybe they'll accept it.

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I agree- you never know what they'll accept.

If they don't accept it..keep looking. There may be something even better.

Re: House hunting help - dream home found

Thanks everyone. We have seen the house in person - its beautiful. Actually, DH doesn't love it as much as I do, but I think he is turned off by the price. My eyes are always bigger than my wallet, ha.

The taxes aren't bad, so there are some savings there. And it would be a forever house, not a starter home.

I did post a similar topic on the Home board on LIF but I'm not getting any bites. Thanks.

Re: House hunting help - dream home found

I'm not sure what offer you want to make but sellers expect buyers to offer below asking, on average 20% which would make your offer about $460,000. Of course this may insult them since they just dropped the price. I would put in an offer you are comfortable with knowing that it is just the start of the negotiation. I would just keep your fingers crossed that they are motivated to sell. Personally, I wouldn't buy a house if the price was uncomfortable for me. So I wouldn't advise you going over what makes you comfortable. Good Luck!

***ETA*** Look up the comps in the area. If they are lower it gives you some room to negotiate on the price.

Re: House hunting help - dream home found

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Posted by Lsorrent

I say put in an offer for what you can afford and see what happens. In this day and age, you never know. If they want out bad enough, maybe they'll accept it.

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i agree, who knows they might wanna get it off theirs hands for now. or might come back with a counter off and u can go from there.

i would try something, bc if it was me i would always what if... at least you guys tried.

ETA.

if its ment to be it will be. DH and i looked at a house that we wanted for years before the wedding and it didnt work out. so in my eyes there is something better out there for us, and it will happen when its the right time!

Re: House hunting help - dream home found

Also think about things such as move-in date. If they want to get out of there fast, and you and DH are ready to go now I'd make sure that was mentioned in the offer. It might give them more reason to accept.

Re: House hunting help - dream home found

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Posted by Lsorrent

I say put in an offer for what you can afford and see what happens. In this day and age, you never know. If they want out bad enough, maybe they'll accept it.

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absolutely!!!!!!!!!!!!

Re: House hunting help - dream home found

Thanks everyone

I don't know what we are going to do. I just drove by the house and as a lot of people pointed out to me on LIF there isn't much yard and the garage is unfinished. Apparently it doesn't have much curb appeal. WHY is it $569K??!! They are selling location and the updates I guess. Thanks for letting me vent.

Re: House hunting help - dream home found

You could always just put in an offer and see what happens, ya know? Best of luck to you whatever you decide to do!

Re: House hunting help - dream home found

CARLAAAA!!!

first, i had some WEIRDDDD DISTURBING dreams last night.....but the reason im saying that is to put it in context

for some reason this post came up in my dream too...i was logging in and saw you wrote an 'UPDATE'

so basically, you went to see the house, you explained what you were comfortable w financially. adn they said ok. it was very very simple. and you were posting with an update saying that you kinda have a new house now, and just need to figure out the paperwork

i was so excited to read the update

......then on my drive in this morning, i thought, was that real??? lol. turns out it was just one of my dreams

anyway, wanted to share. maybe there is good luck coming your way. hope so!