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Updated about 2 years ago,
Low Offers on my listed properties-Is this the new reality?
Hi All-
I rehabbed and listed three properties for sale. They are rehabbed to a high standard and my asking price is somewhat lower inferior comps.
I have received offers where buyers are either asking for 3% CC concession or offers that are at least 5--7% below the asking price. My counteroffers for full price offer is met with silence.
I am carrying a high debt burden due to some unseen repairs and I wonder if this is the new reality and whether I should accept a 20K haircut on each property before it gets any worse. On a positive note, there isn't much else for sale in these good locations.
Thoughts?