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Updated about 2 years ago,

User Stats

122
Posts
43
Votes
Jacob Beg
  • Woodbridge, VA
43
Votes |
122
Posts

Low Offers on my listed properties-Is this the new reality?

Jacob Beg
  • Woodbridge, VA
Posted

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?


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