Thanks for all the replies / advice!
Got the written offer for 141k with 7k in closing. Close by March 11, 7 day due diligence, no other weirdness or contingencies other than FHA financing.
That said, psychologically speaking, it's generally not a good idea to accept an offer without any negotiation. It generally makes the buyer feel is if their offer was too high (why else would you have accepted it so quickly?), and they will approach the entire transaction as if they are getting the losing end of the deal. -J Scott
Needless to say we will counter back on price, but I agree with J Scott and everyone else to "always counter with something" if for no other reason than to protect / set up your negotiating position as the deal moves through inspections, ect.
If you have a savvy agent on the other side and seem to easy / desperate to deal with upfront, chances are you could get some additional counters to drop price / add repairs as you work through the contingencies.
It's unlikely that they put their best number on the table. Who does that?
Is the $7K really just closing costs, or does that include down payment assistance from you? -DeuceSevenOff
Deuce- 7k includes down payment assistance so I agree that factor is more import to them in the negotiation than purchase price
The critical piece is what type of loan they are going after??
If the buyer is confident it will close have the earnest money non-refundable.Especially if you use hard money you will have costs waiting for it to close.They can always have the appraisal contingency in there. -Joel Owens
Joel- It was a cash deal on my end, FHA financing for buyer. No appraisal contingency other than it having to appraise for FHA / loan requirements
J Scott- I know you have worked many deals involving FHA financing, if everything is good on the buyers end credit, ect. is March 11 "basically 3 weeks" a realistic close date or are they just floating a quick date to make their offer seem more enticing?
