Friday, April 22, 2011

Reason *should* prevail...right?

Well, we've jumped in the house-buying pool with both feet. We made an offer last night, and are currently waiting to hear back from the sellers. Here's what we have going for us in this negotiation:

- They are retired in San Antonio, and don't live in the house anymore.
- They don't have a mortgage payment on it, as they owned it for 25 years, and are free and clear now.
- The house has been on the market for over a year, off and on, and has had no other offers.
- It's a contemporary house that appeals to Leo and I, but not many other buyers.

What we have against us?

- We're offering them about $125,000 under their asking price!

But the thing is, they're dillusional about the value on the home. They put some work into it, updating the kitchen to a degree that makes Leo and I drool. But that's on them. Just like how the $60,000 addition Leo and I put on our home is on us. Did we ever think we'd be able to get that money back? Um, no. Because we're in our right minds.

They did a great job keeping the home in really lovely condition, and we will negotiate to a certain point on our offer. We really, really want the house!

But if it doesn't work out, you know what? There are other homes out there. So we're ok. And they might just wind up with a big, fat empty house to take care of from afar for the next 10 years if they don't let us have it for a reaonable price. So...ball's in their court!

But cross your fingers for us, will ya?


emawkc said...

Well you're doing it right: Decide how much you can spend and walk away when they can't meet your price.

Good luck.

(PM me the neighborhood you're looking at...)

Nora said...

Good luck with the offer! But I'm concerned...What will happen to Jeffers???