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Updated about 5 years ago on . Most recent reply

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Jack B.
  • Rental Property Investor
  • Seattle, WA
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Help me negotiate this deal

Jack B.
  • Rental Property Investor
  • Seattle, WA
Posted

Was listed last July at 450K, price reductions for 2 months down to 430K, then delisted just before Christmas. Listed again a week ago now asking for 445K.

The carpet in some rooms has some stains, nothing too bad, but not "unmolested" either. Back fence needs to be replaced/falling apart. Otherwise the house is what I'm looking for, no HOA, large lot, 2006 built/newer and 2.3K sf. 4 bed 2.75 bath, like the layout, modern kitchen but not new construction fancy...but like I said the house is roomy and the layout is great for me.

I offered 423K on account of carpet, fence, time on MLS, etc. The agent countered with 430K being their number right now. Which is what she told me they'd go for on the phone earlier when we spoke.

Should I come up to say 427K or just take the 430K. It's a 15K discount. Not too shabby, and as an eventual rental, it will do OK which is hard to do in this market and to top it off, appreciation in this area is slated to be high this year on account of interest rates. It's in Algona, WA 98001...

What I COULD do is take the 430K and say 60 day close, which give me time to find a tenant for where I'm living now as I rent it back out...That said would I be better off asking for 90 day close? I have another rental that I'm trying to fill right now and would prefer NOT to have 2 vacant units at the same time if I can avoid it...

Most Popular Reply

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

If they were down to 430k list price, they will take 427k, if it's worth it to you at that price. The question you have to ask yourself is, will you kick yourself later if you offer 427k back and then someone gives them the 430k. But that seems unlikely since it was listed at 430k and didn't sell. Do you know if they have any other activity? 423k doesn't seem like a bad offer for them to mull over.

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