Home has termite clearance (we need this for a VA loan – very good thing!)
– Seller wants a 12 day investigative period (normally 17 days). They do not want to do any repairs so what you find is what you get. Or, you cancel and move on.
– Seller does not want to pay closing cost – however is willing to give credit for needed work (like landscaping) ($5,000). We would do this on a request for repairs form at the time of the counter offer so it is in writing.
– Seller will pay for home warranty for 1 year upgraded.
– Since seller is doing home warranty – as a house warming I will do rebate to you now of $450.00.
The above will go out to you and at least one other offeror. They will be asking for best and final offer price.[/quote]
I don’t see what you said the price you are offering is.
It has fallen out of escrow twice, once on 7/3 and once on 7/11.
Price reduced $75K on 7/18.
Now they say they have multiple offers at the original price ($375K).
Asking for a shorter investigation period raises red flags to me. Coupling that with falling out of escrow twice makes me really nervous.
Sounds like the $375K price is indeed in the neighborhood and the $75K price drop was just to get attention.
Personally, I think prices will be softening (maybe not dropping) in Sept since school will be back in session and people will want their nests stable by then. Me, I would walk away since I don’t like the “we’ve already got multiple offers” thing. But I’m not in your shoes…only you can decide if it is a fair offer.
A side story: we made an offer on a house in Hidden Valley one time. House had been on market several months. Signs placed all over the shelves saying “make us an offer!”. We offered about 5% less than asking. Their realtor came back saying they had a full price offer so we’d have to offer at least that. I said that sounds fishy, so we walked. The house stayed on the market, with several price cuts, for over a year after that!!! Over a year! This situation smells suspiciously like that one.
