Did anyone go over the asking price?? We found a house we love, we made an offer $10000 less than the asking price, then the agent called and said that it was going to be too low. So we changed our offer to the full asking price (we love the house)...now the real estate agent is telling us there is another offer which is higher than the asking price..... what do we do?? we love the house but we don't want to go over the price we offered.....
Please advise.
DjPiLL
Posted:
Member since
Re: Going over the asking price!!
Compare it to other house sales in the area. Don't go over the asking price if it means also going over your set 'budget max price'.
attn2details
Posted:
Member since
Re: Going over the asking price!!
You have to know what the highest you are willing ( and more importantly ABLE) to go to - then gauge your bids accordingly - just because a house is going over asking doesn't mean it is too expensive - it might have been underpriced to begin with and that is what other prospective homeowners realize too - if it is in your budget and you love it - go for it!!
skew
Posted:
Member since
Re: Going over the asking price!!
Posted by DjPiLL
Compare it to other house sales in the area. Don't go over the asking price if it means also going over your set 'budget max price'.
i agree. you also do not want to price yourself out of the neighborhood.
eta: who is advising in re: the offer? is it the seller's agent or yours?
IrishBride-05
Posted:
Member since
Re: Going over the asking price!!
I would like to advise, but I think it's a very personal thing, depending on how much you REALLY want this house. All I can say is that we were in the exact same situation and I refused to go over the asking. Now that same house is still on the market and they just dropped the price. The other buyer may not work out and, as the others have said, if you go over by too much it may be difficult to get the comps to cover your mortgage.
BTW: We found a house we REALLY love and have no regrets
Kathy116
Posted:
Member since
Re: Going over the asking price!!
We offered asking price, and then someone else countered the offer with 10-15K above asking price (fortunately the sellers didn't take the above asking price because they were previously insulted by them when they bid ridiculously low on the home...go figure)
blushingbride2003
Posted:
Member since
Re: Going over the asking price!!
We went over the asking price by a few thousand because we really loved the house and there is not that much we need to do to it. Plus, we were in a bidding war with another family. Our final offer was matching their offer and the sellers accepted ours because they thought we would be a better fit for the house. The other family came back and offered all cash but we still got the house. We got a lot of pressure from the sellers realtor asking if we were sure we would be able to come up with the mortgage. The other family became the backup offer. We just finally went to contract. I think you should offer what you can if you really love the house. If the other offer is accepted you can become the backup and you never know, the other offer might fall through. Just think it through and play around with the numbers. You will know the best thing to do. Good luck!
littlewilson
Posted:
Member since
Re: Going over the asking price!!
Posted by attn2details
You have to know what the highest you are willing ( and more importantly ABLE) to go to - then gauge your bids accordingly - just because a house is going over asking doesn't mean it is too expensive - it might have been underpriced to begin with and that is what other prospective homeowners realize too - if it is in your budget and you love it - go for it!!
Exactly.
The asking price is just a guideline; some homes are priced higher than buyers will be willing to pay, and some are priced lower. It's not like a price tag on an item in a store. We saw lots of houses that we liked but were worth far less than asking price to us, but we had to go $20K above asking for the house we wound up buying.
vita930
Posted:
Member since
Re: Going over the asking price!!
Ohh, well. We just lost the house!!!! They went with the other offer which was more than the asking price (which we offered) with more money down.....we really loved it!!! I am very depressed, the agent said we are the next buyers if the other people don't go through.....
