[quote=teaboy]Am I missing the point? I dont get why that is.
If you’re willing to pay $2M for a thingamabob, then 1% more is $2.02M. By your theory you’d thus be somewhat stingy not to be willing to pay $2.02M for it.
So, now you’d be willing to pay $2.02M for a thingamabob and, again, you’d thus be somewhat stingy not to be willing to pay $2.0402M for it.
So, now you’d be willing to $2.0402M for a thingamabob…
Who sets the base at $2M? You do. But that was only shortly after you realized you were willing to pay $1.980198M for that thingamabob…
tb[/quote]
I never used to word stingy. There’s a huge difference between being stingy and not caring for something enough to pay the extra 1% to close the deal.
As sdr said, you’re buying a home and not a thingamabob. There are intangible variables that goes into buying a home that doesn’t exist in most other thingamabobs.
For the same home $2m, one person would willing to pay 5% more because they really want it, while the other only want to pay 1% more, another might not want to pay any more than what was offered, and while another would not go over $1.9m for it. Worst yet, there might be someone who come in at $1.85m all cash and the seller pick that buyer.
As I said, assuming you can afford the deal, then you probably don’t care for the home all that much, so it’s OK to lose the deal because of the 1% difference.
I’ve walked away on plenty of deals when my offer price was not accepted and I also went up to where the seller is to close on the deals. It all comes down to how much I wanted the place.
