I am very interested in a house that is located in a master planned community. It has pools, tennis courts, volleyball courts, tyke's water park, basketball courts.
The house is a foreclosure. It is missing all fixtures (blinds, ceiling fans, etc) and appliances and even the fence that came with the house.
It's about 3000 sq. ft. 4 bedrooms, 3 baths, 2 car garage, all hard wood floors on first floor, very solid home builder.
They initially listed the house at 245K in Dec. It was listed at 220K as of February 2010 (It has come down twice).
We submitted an offer for 10% off the listed price initially.
So far it has gone like this.
Buyer: 198K and 3% of closing costs
Seller: 219K and 5500 in closing costs
Buyer: 204K and 5500 in closing costs
Seller: 218K and 6490 in closing costs
Buyer: 207K and 8000 in closing costs
Seller: waiting for response
Now I'm just speculating here but the computer keeps coming down $1000.00 but way up on closing costs. I understand about buy down and when it is and isn't beneficial and since the computer has been so generous with closing costs, we decided to ask for me to buy down the interest rate in case we can't get them below 210K which is where we would like to be.
How many offers are routine when it comes to these realestate transactions?
Also, why do you think they'd be so willing to go up on closing costs but not want to come down on the listing price?
The listing agent said they would not be willing to just take the last 6490 they offered off the listing price (and us pay the closing costs). They'd rather do it this way...I am speculating as to why...
