I think you are at least partly correct and we may indeed have to decide if we just want to pay it or not. But when we made an offer, there was a different list price. During the time-being they lowered their asking price and their counter offer was the price in which they lowered it to. So obviously they are motivated to sell it since the price was lowered (or at least some of them are motivated) AND they did not flat out reject our offer, they simply countered. If they wanted us to take a hike they would have rejected it.

I think some of the siblings feel like they are ready to unload it and some feel like the want to keep it. I know the eldest daughter who is also the POA for the parents wants to dump it. If her voice of reason is heard we may end up with the property with one of our counter offers. We will see what they do now. If they move little or none we will most likely give them a final take it or leave it offer for a price we think it is worth and then either move in or move on. They have 36 hours (until 8PM Thursday) to decide upon our counter.

Your first offer (whatever figure that was) made them lower the price.

Keep in mind that even if full asking price is accepted and agreed to, they can back out of the deal anytime up to and including closing. The seller holds all the cards.

I considered refusing sale to the weasely couple that I sold my Omaha home to. They pulled the low-balling routine with me, and they eventually came up to my first counter offer. I sent a message through the real estate agent after their 2nd low ball offer that they should look for a property that more suited their ability to pay - because I was cancelling my counter offer and returning to original asking.

They dropped all contingencies within hours and paid my counter offer. Anyone serious about a property needs to avoid alienating the seller(s) or they may decide they don't want you as the buyer and hold a grudge due to the low balling activity.

I'd of cancelled the sale - but it went for market. That's the only reason I went through with it. 'Cause I sure wasn't "a motivated seller" in need of the money - but it made no sense to sit on something that a willing buyer was paying market for.

Your sellers - with the parents alive - make this all the more difficult - especially with the circus of heirs bantering like chickens. Their real estate agent that "just wants it to be over." LOL! When did a RE agent not want their cut??

Their are a lot of idiots out their. These kids are morons for not getting the house out of their parents name so they can go on state. Now one may think the money is "safe" if they don't sell it. Usualy its something like that, estates can be fun.

Your in a different situation than I am since you want to live in it. If it were me I would keep coming back every 3-4 months with another offer until something happend with it. Even if it takes a couple of years.

In your case I would decide whats the highest price you will be happy paying, and offer it. If the property is worth full asking pay full asking. We usualy get full asking for our spec homes because thats what they are worth, we price them right.

Oh it makes perfect sense, if you know the whole story. We would lose $50k day one on the house, probably lose $70k by the time we flip it, and I would be VERY glad to lose that money...lets just say the value is in the land.;)

No sellers don't hold all the cards, once the mortgage and inspection contigency's are met the seller cannot get out. Some have tried and they are sued out of the property as a result.

Go talk to your attorney on that one, I had this very conversation with mine a couple of weeks ago.

These things may vary from state to state.

And keep in mind, even if the sellers are a bunch of bumbling idiots, if you accept their counter offer, you have a contract.

Our offers weren't lowballs. They were slightly below what the current market value of the home is. They are either seeing $$ or do not want to sell the home. I am guessing they more so want to keep it than sell it. My real estate agent just told us they orignally wanted to put it on the market for about 30% more than what they initially put it on the market for.

So, I am done with this. They countered with little movement. So we are giving them a final take it or leave it offer. I just had our agent send it over. It is quite a good offer. I feel it is more than what it is currently worth in the condition it is in. We plan to be in the home for a long time and work on it bit by bit. I will do much of it myself. So if I have to pay 10-15k more than it is currently worth, I am okay with it for getting a home that has nearly everything we want. Now if I have to pay 50k more than what it is worth, that is a different story. So now they have to decide if they truly want to sell the home or not. If they don't take this offer, I am done with this place.

It would have been interesting to see what would have happened. The couple came close to finding out too. What "mortgage and inspection contingencies are met" would have to do with my sale - I don't know. All contingencies were dropped when they came back to accept my first counter-offer. They treid to ask for 45 days to close - I said; sure, but I will keep it on the market..... They went for the 30 day close. I sent one more message then through the RE agent - pull any funny business or stalling at close - and I will keep the home.

It is very tempting to ask a much larger amount for a home than it should reasonably be priced in the first place. Three years after I sold, a friend 6 blocks away from my home in Omaha priced his home at $550K - 9 months later through lowering of the price to $349K - it sold for $330K. That home was so overpriced in the first place - there was no way it was going to sell.

Same thing with this property you are looking at. If I remember what you've written here - it's been on the market for a year or so - and your offer was the first one. If that is the case - they have been overpriced for so long, they got shocked when they got your offer - and it happened to be less than asking - even thought they wanted to list it for 30% more. They have to realize that your offer may be the best one they get for a while - although they don't like it - they may have to get used to it. Or just sit on it.

I like Hatterasguy's strategy of checking back in a number of weeks - if they don't go for your last offer.

On the market for 190 days, otherwise everything else is correct. They did get shocked and now they need to decide if they want to sell the house or sit on it. Our offer may very well be the ONLY offer they get. It is a more than fair offer right now. My realtor texted me and told me the listing agent was meeting with the siblings today to discuss this offer and they know it is our final offer. We are a little shy of the exact middle from their initial list price and our initial offer. So if they refuse to at least meet in the middle of an overpriced starting price, then they deserve to sit on this property for another year.

I too like Hattie's suggestion. I highly doubt this place will get anymore offers after the April 30th tax rebate deadline. It is original from 85 and most buyers can't see past that. We can...for the correct price.

Some good information, and cogent points you've made.

I think they would be foolish to pass up a buyer-in-the-hand versus the unknown after the April 30th tax-rebate deadline.

Any updates?

My dad said it best when he told me "Don't expect the sellers to act rationally." So even though we can see my offer is fair they don't necessarilly think the same as we do.

No updates. My agent wanted to talk to listing agent yesterday versus leaving a message. I'm not exactly sure when the listing agent met with the siblings. I know it was sometime yesterday so I assume the 24 hour clock started no earlier than yesterday afternoon but could be as late as the evening.

So they have until sometime today. After all of this I am somewhat negative about the outcome but there is still hope. A somewhat similar situation happened to us last year and we decided we would just rent for awhile and save money. We are getting discouraged and may have to go back to that plan. I just am getting sick of the 1-car garage. I told my wife as long as we move by next winter (so I can work on the cars in doors) I am fine with staying where we rent now a bit longer...although when I sleep, I have dreams about larger garage space! :o

Nah don't pass up the tax credit, go buy something.