We have the worst seller on the planet. Help!

[Familywantsahouse]

Our appraisal came in low. We have an offer than includes concessions. Here's the breakdown...Asking was 150k, appraisal is 151,500

Offer 155,000 with 4500 back. Net of 150,500

Seller now says, nope, he won't lower the price including the concessions. He'll lower the price to 151,500 with no concessions.

What? You'll "lower" the price to net yourself an extra 1k with no concessions?

I think we're going to walk. The issue now is timing. Since we were relocating I wanted to be down there in time for my kids to start school. My husband's middle score is now lower than the 640 because of the hard pull and the broker repulls credit outside of 90 days (I have a play there to settle an old charge off set to fall off in 4 months that's factoring into utilization, so that's not my biggest worry I can get the score where it needs to be)

There's so much in the air. I'd already scheduled movers and we need to be out of here in a month.

[LondonMassey]

The seller seems to be trying to take advantage of your situation.  If it was me, I would walk, unless of course I had the excess funds to spare without it causing any type of burden AND the house was EXACTLY what I was looking for.  There are too many homes on the market today to deal with a seller trying to be a "hard a**".  Good luck!

[FrugalRican]

Looks like the seller might have read your poor pokerface and is cornering you into a bad deal.

I know you scheduled movers and everything, but this isn't the time for sellers to play hardball. Play hardball back.

If it were me, I'd walk and find somewhere else to stay, even if I had to rent for a year.

[drkaje]

Looks like he saw time was an issue and decided to take advantage.

if two brokers are involved: I'd ask mine to talk with his what other listings they have that might suit your needs. It's a lot better than saying "Tell your client to go pound salt". At least they're being given the opportunity to split another commission. They may also talk a little sense into the seller and remind him this is a buyer's market.

The seller might have another surprise up his sleeve, or want to change something else last minute. That's drama you don't need.

[GoodCredBen]

Please dont take what i am saying negative, but i did the same thing to our sellers....

They had one buyer back out after inspection and lowered the purchase price 20k....

They already had an offer in on another house and it was accepted. Their close date is in 1 week from today.....

We kind of bullied them into accepting our bid since we knew they were moving and did not want to make 2 mortgage payments.

lol... original list price was 179900,

We are getting it for 153000 and they are giving us 3.5% towards closing and a 1yr home warranty....

They got a lot less then they were expecting

[jules0580]

Are you able to pay what they were going to net before without concessions.. since technically its what you were going to be paying, just with technically financing the closing cost.. I would imagine the seller would agree to the 150,500 but that would mean you would need the cash for the closing cost which could be tough to come up with.  The sellers might need to get the exact amount that they asked and may not be able to budge or if you need help with closing maybe they could sell it for 151,500 and give you 1000 or even 1500 back at closing because that would get them their 150k asking price net.  Its worth a shot..I wouldnt expect them to go much lower than that though since it did appraise for that..but its worth a shot?

[tammyjk]

Personally, I would give my realtor a call and ask them to find me a place to rent....realtors talk to eachother and trust me it will get back to the other side that you are looking for alternatives.  Or

Next time you deal with the seller say

"I really will need time to think about this because I am going to look at a rental and I will get back to you"  Let them know, youre not in crisis mode or as they saying goes "never let them see you sweat".