Looking for thoughts on my house buying situation. Here's a quick summary:
- looking at a house listed at $600k that is giving a $5k allowance/cash-back to go towards flooring (it is carpeted on main floor). Been on the market for a while with several price drops.
- there aren't many comparable houses in the area that have sold in the last while but the ones that are there seem to have hardwood floors and some other upgrades
- my RE agent thinks the house is probably worth closer to $565k accounting for maintenance and work that needs to be done (e.g. floors)
- was about to put an offer on the house at $555k and start negotiations but as we were drawing up the paperwork, the seller's agent said that they had received another offer the previous week in the $560's range which was refused. Also said that he was instructed to draw the line at $575k
- my budget is set at $560k absolute max
Is there any point to still putting in a written offer even if I were to offer my max at $560k? Are there any benefits to it even though it's almost certain to be rejected? Part of me thinks that with a written offer, it will at least show the seller that the offer is for real. I sometimes wonder during conversations between RE agents whether the information does get through to the buyers and sellers and how much posturing there is. Or will putting an offer have a negative effect? Just not sure what that may be.
Thoughts appreciated.
- looking at a house listed at $600k that is giving a $5k allowance/cash-back to go towards flooring (it is carpeted on main floor). Been on the market for a while with several price drops.
- there aren't many comparable houses in the area that have sold in the last while but the ones that are there seem to have hardwood floors and some other upgrades
- my RE agent thinks the house is probably worth closer to $565k accounting for maintenance and work that needs to be done (e.g. floors)
- was about to put an offer on the house at $555k and start negotiations but as we were drawing up the paperwork, the seller's agent said that they had received another offer the previous week in the $560's range which was refused. Also said that he was instructed to draw the line at $575k
- my budget is set at $560k absolute max
Is there any point to still putting in a written offer even if I were to offer my max at $560k? Are there any benefits to it even though it's almost certain to be rejected? Part of me thinks that with a written offer, it will at least show the seller that the offer is for real. I sometimes wonder during conversations between RE agents whether the information does get through to the buyers and sellers and how much posturing there is. Or will putting an offer have a negative effect? Just not sure what that may be.
Thoughts appreciated.