Tried negotiating price on all 3 houses. Sellers wouldn't budge....they weren't willing to come down 30K in price. Trust me, I wasn't just like "oh ok" and walked. I realllllyyyyy have been trying sooo hard but I'm in a very small area and a lot of the sellers here are just convinced that their homes are worth more than they really are. And I haven't tried buying bank-owned or foreclosures because I've heard too many horror stories about them (they take forever, all the "red tape", etc) It has been very frustrating. But, yes....I did try to negotiate a lower price. Meanwhile, the 3 houses I had to walk away from are still on the market...and since I'm going FHA my low appraisals will "stick" to the houses for 6 months (or so I was told. Not sure if that's true or not) so you would think the owners of those homes would lower the prices but hasn't happened. One seller actually denied my counter-offer after appraisal and said he was "holding out for a cash buyer who could pay what his house is REALLY worth" lmao. He's still waiting.......
@hippychic823 wrote:
Tried negotiating price on all 3 houses. Sellers wouldn't budge....they weren't willing to come down 30K in price. Trust me, I wasn't just like "oh ok" and walked. I realllllyyyyy have been trying sooo hard but I'm in a very small area and a lot of the sellers here are just convinced that their homes are worth more than they really are. And I haven't tried buying bank-owned or foreclosures because I've heard too many horror stories about them (they take forever, all the "red tape", etc) It has been very frustrating. But, yes....I did try to negotiate a lower price. Meanwhile, the 3 houses I had to walk away from are still on the market...and since I'm going FHA my low appraisals will "stick" to the houses for 6 months (or so I was told. Not sure if that's true or not) so you would think the owners of those homes would lower the prices but hasn't happened. One seller actually denied my counter-offer after appraisal and said he was "holding out for a cash buyer who could pay what his house is REALLY worth" lmao. He's still waiting.......
Hahahaha. Did someone explain to him that THAT is the price his house is worth and that Investors only shove out cash for mega bargains in this market. Laughing my tail off with ya
Is this one competitively priced? If not has your agent prepared the seller for what may be a disapointment?
In the meantime....forward on to the Power of Positive thinking.
Starting Score: 722
Good luck.. my closing is scheduled for Friday the 13th.. so far..but may get pushed out 
However.. Im trying to look at it as a good number..I do like the number 13.. So positive thoughts to you!
@hippychic823 wrote:
Tried negotiating price on all 3 houses. Sellers wouldn't budge....they weren't willing to come down 30K in price. Trust me, I wasn't just like "oh ok" and walked. I realllllyyyyy have been trying sooo hard but I'm in a very small area and a lot of the sellers here are just convinced that their homes are worth more than they really are. And I haven't tried buying bank-owned or foreclosures because I've heard too many horror stories about them (they take forever, all the "red tape", etc) It has been very frustrating. But, yes....I did try to negotiate a lower price. Meanwhile, the 3 houses I had to walk away from are still on the market...and since I'm going FHA my low appraisals will "stick" to the houses for 6 months (or so I was told. Not sure if that's true or not) so you would think the owners of those homes would lower the prices but hasn't happened. One seller actually denied my counter-offer after appraisal and said he was "holding out for a cash buyer who could pay what his house is REALLY worth" lmao. He's still waiting.......
Yes, I've run into that before with unrealistic sellers. I call it "Living in 2005" because they don't want to recognize that their homes' value rides with the market.
The info you have about the FHA appraisal is exactly right. If the seller is really looking for a price $30k above market than he may as well take his house off the market because he is not looking to actually sell his house.
As to the guy waiting for a cash buyer to pay more than market, that's just silly. The cash buyers I work with all want a deal because they have cash! They are not looking to pay a premium price....lol
There are sellers that put their home on the market with no intention of selling at market value. I never understood the rationale for that - it doesn't make sense from the listing agent's standpoint to put it on the market and of course we know why the seller does it, but since it doesn't work historically, why go through the hassle and expense?
I do have a solution for you though: have your agent run sold comps prior to your offer. That way your offer will be supported by the comps in the neighborhood and you are more likely to get it within the appraisal range. It will help you in the long run and save you a bunch of $$$ spent toward appraisals on properties you don't buy.
Are you including in your offers that seller pays for appraisal if it appraises for less than the listed price? Especially if you have a good idea of what it may actually appraise forOr, are you taking the hit for all of these appraisals yourself? 
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Well, the agent I'm working with on this house did go on and run the comps for me so she's actually pretty confident it will appraise at or a little above purchase price. My last realtor (the one I was working with on the other 3 houses) did not ever do that for me. I have had to pay for all the appraisals out of my own money...I hadn't thought to ask if seller could pay my appraisal for me...dang!!! I just figured since I was going FHA that I couldn't get them to that. Plus, I really want them to contribute to my closing costs and they have to repair the central A/C unit so I didn't even think to ask them about the appraisal. I'm getting a realllllllly good deal on it (better than any of the deals on the last 3 houses. But this house is also in a different town) I'm just grateful that these sellers are realistic and not "Living in 2005" 
they are very motivated to sell and they are just as anxious that I get my loan as I am, as the house was left to them from a deceased parent and has been sitting empty for a little over 6 months, so they are ready to sell it and be done with it....I will keep yall posted and thanks for all the advice
they are very motivated to sell and they are just as anxious that I get my loan as I am, as the house was left to them from a deceased parent and has been sitting empty for a little over 6 months, so they are ready to sell it and be done with it....I will keep yall posted and thanks for all the advice
Sorry to hear that, but so glad that you have a new realtor that ran comps for you. And yes, if your realtor ran comps and they are adamant on the above comp price then you can and should ask them to pay for the appraisal if you are almost certain it is going to come in way under.
So glad this one is looking a lot better for you.
One thing I have come to realize....what is meant for you won't go past you.
For some reason, those other houses weren't meant to be. My choice 8 months before I bought my house was a mess. Sellers being very obstinate. Wouldn't budge one inch. Then MY loan officer made me very uneasy shoving papers in my face to sign and felt put out when I kept asking what it was I was signing.
I got up from the table...took all those papers, told them "I'm done" and walked out. Thank GOD! I would have been stuck with a $300k mortgage on a townhouse that Zillow has at 137k now!
13 has always been my lucky # & when Friday the 13 comes by...I embrace it!! Sending all my lucky 13 vibes your way for the appraisal...and to the poster who is closing that day too!