Offer question...Opinions needed please

I need opinions...

The asking price was $300,000, which seemed a little steep. WE offered $270,000... got a call today saying they want $285,000 but they have an offer for $292,000....

285 seems like a lot more, do we still negotiate and say 275 or agree to 285 right away...I feel like we look too eager if we say yes to 285 and we could have gotten it for less.
Hope this makes sense....any opinions would be very helpful.

$300K for a coop?? Wow that is a lot - i thought ours was a lot - we are in contract for a coop in Bay Terrace for $250K and I thought that was a max for coops (they were asking for $269K and we got them to agree to $250 after we started a bid at $239K).

I'm just surprised the clearview are so much - is it a garden apartment? How many bedrooms - is it all new?

FH's brother just closed (like a week ago) on a coop in Clearview and they paid $227 - so i wonder why the big difference - i know that the place they bought is in move-in condition.

I am verysuspicious when it comes to bidding - i had a bad feeling when we were bidding on ours that we were bidding against ourselves. We had a real estate invovled and i really had a bad feeling that they created 'prospective buyers' just so that they could up the price -

I dont understand why they are telling you that they will accept $285K but have an offer for $292 - just from hearing that I doubt the have a $292K offer - or if they do - it isnt serious since they'll accept lower from you -

When we bought this house the same thing happened. Say the house was listed at 265,000. We bid 240 they countered at 260. We re-bid at 255 and they accepted. I felt the same way you did. I didn't 'offend' them by bidding again too low. I thought we should try to get close to what their counter-bid was but not higher than we wanted to. It was the highest we would go at that point so if they did not accept, we knew that would be it for us.

I would bid slightly lower but not too low again.
Who said they got an offer for 292? Why wouldn't they just take that?

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Posted by StepherG

I don't think the real estate agents are allowed to tell you that they have another offer of $292,000... sounds suspicious. ALso, why wouldn't they just take it?

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They actually are allowed - but when they do - it raising suspicion for obvious reasons - when we went through it - they told us they had a higher bid but the people hadnt submitted their paper work yet - and then another set of people did submit their papers - but it didnt look promising -

Bottom line though - do not trust the real estate agent - they are only out to increase their commission

Thank you for all the opinions!!

We decided that $285,000 was way too high for a coop... it was nice... brand new kitchen, all granite, stainless steel appliances, they had taken out the attic and put cathedral ceilings in... but realistically it is still a 2 bedroom garden apt... which should only go for no more than $250,000... so we decided to keep looking for something more reasonable.

Thanks again...its nice to have some objective opinions from people not involved in the situation!!