A bid, a bid! We put in a bid!

C

CalvertNewbie

Guest
MarylandMark said:
I should note my philosophy is if you aren't embarrassed by your bid; it is not low enough.

Then again- the houses are still for sale so it looks like I'm not the only one thinking they aren't such great deals as well. 2005 prices are long gone. I've found there is roughly a 20% price difference between people who want their house for sale vs being sold.
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Speaking of being embarrassed by a lowball offer, it worked out well for hubby & I when we moved from NY. But it could have easily backfired on us. I was completely mortified by the first offer hubby wanted to put in, which was 100k below asking price. :yikes: Guess what the owners said? They were so insulted that they RAISED the original asking price by 5k! :killingme

They had been renting out this house & had already bought in SMC. Their renters moved out & they really needed to sell this house. We needed to move to MD quick & this house was vacant, a huge plus for us. Because we wanted a quick close (within days), it was also a huge plus for them. We offered them 50k below asking price & promised a quick closing, pending inspection of course. They took the offer & I was glad hubby was at the closing while I finished packing up in NY! :lol:
 
morningbell

morningbell

hmmmmmm
MarylandMark said:
I should note my philosophy is if you aren't embarrassed by your bid; it is not low enough.

Then again- the houses are still for sale so it looks like I'm not the only one thinking they aren't such great deals as well. 2005 prices are long gone. I've found there is roughly a 20% price difference between people who want their house for sale vs being sold.
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CalvertNewbie said:
Speaking of being embarrassed by a lowball offer, it worked out well for hubby & I when we moved from NY. But it could have easily backfired on us. I was completely mortified by the first offer hubby wanted to put in, which was 100k below asking price. :yikes: Guess what the owners said? They were so insulted that they RAISED the original asking price by 5k! :killingme

They had been renting out this house & had already bought in SMC. Their renters moved out & they really needed to sell this house. We needed to move to MD quick & this house was vacant, a huge plus for us. Because we wanted a quick close (within days), it was also a huge plus for them. We offered them 50k below asking price & promised a quick closing, pending inspection of course. They took the offer & I was glad hubby was at the closing while I finished packing up in NY! :lol:
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This makes me feel like we made them a great offer.
 
C

CalvertNewbie

Guest
morningbell said:
This makes me feel like we made them a great offer.
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I'm really keeping my fingers crossed for you that it works out. When are you supposed to hear back? Hubby & I had also looked up how much the previous owners still owed on this house. That way, we knew how much bargaining power we might have on the price. We knew how much they would still profit from our offer, even though it was so far below the asking price.

Hubby & I had bought a house up in NY and wound up moving down here less than a year later. We weren't there long enough to gain any sort of equity. We can't afford to sell the house up there now because of the current housing market and the fact that we weren't there long enough to pay off much of the mortgage. We quickly realized that we had to rent it out as opposed to trying to sell it. We simply couldn't afford to budge on the asking price. Potential buyers would have been wasting their time putting in low ball offers on that house.
 
morningbell

morningbell

hmmmmmm
CalvertNewbie said:
I'm really keeping my fingers crossed for you that it works out. When are you supposed to hear back? Hubby & I had also looked up how much the previous owners still owed on this house. That way, we knew how much bargaining power we might have on the price. We knew how much they would still profit from our offer, even though it was so far below the asking price.

Hubby & I had bought a house up in NY and wound up moving down here less than a year later. We weren't there long enough to gain any sort of equity. We can't afford to sell the house up there now because of the current housing market and the fact that we weren't there long enough to pay off much of the mortgage. We quickly realized that we had to rent it out as opposed to trying to sell it. We simply couldn't afford to budge on the asking price. Potential buyers would have been wasting their time putting in low ball offers on that house.
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Excellent idea! I think our Buyer's agent found that info for us, we found out they didn't refinance when everyone else did.

I just looked over the contract, we'll hopefully hear back by the end of today, I'm so excited I couldn't sleep last night :yawn:
 
morningbell

morningbell

hmmmmmm
CalvertNewbie said:
I'm really keeping my fingers crossed for you that it works out. When are you supposed to hear back? Hubby & I had also looked up how much the previous owners still owed on this house. That way, we knew how much bargaining power we might have on the price. We knew how much they would still profit from our offer, even though it was so far below the asking price.

Hubby & I had bought a house up in NY and wound up moving down here less than a year later. We weren't there long enough to gain any sort of equity. We can't afford to sell the house up there now because of the current housing market and the fact that we weren't there long enough to pay off much of the mortgage. We quickly realized that we had to rent it out as opposed to trying to sell it. We simply couldn't afford to budge on the asking price. Potential buyers would have been wasting their time putting in low ball offers on that house.
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she has "people" :wink:
DoWhat said:
bump
I would still like to know how the F you did that?
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backagain39

backagain39

New Member
Just be careful that you don't over pay for the house, the prices in this area are still highly over inflated. The only reason they haven't fallen as much as other areas of the country is because of the jobs and influx of people. But that may change with Obama at the wheel~~~~~~~~~~~~
 
C

CalvertNewbie

Guest
DoWhat said:
Her people legally can't get a payoff of somebodies mortgage.
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:blushing: Oh, oops. Well in that case forget I said anything. I'm not here to throw anyone under the bus. I guess for what it's worth, "my people" (as morningbell put it) are no longer in business. In fact, the company is no longer in business either. :shrug:
 
Bann

Bann

Doris Day meets Lady Gaga
PREMO Member
morningbell said:
WE BE HOMEOWNERS!!!!!
:banana::thewave::starcat::diva::dye:

Thank you all :huggy:
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Congratulations!!!! :flowers:

Even though I sometimes feel overwhelmed by everything I want to do, the projects I have taken on so far, etc. I am so glad I bought a place for the kids and I to call our own. It's a lot of work, at times, but we really do love it.

I hope you'll be very happy there!
 
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