U
/u/SodiumRodent
Guest
Hello Everyone, Appreciate the advice.
Recently put an offer in on a house that had been on market for about 3 weeks. We offered 5% less than the asking price and the offer was accepted within an hour of it being sent.
On the day we started inspections my realtor received a call that the sellers now had a backup offer that is offering more than us and waving all inspections.
The house needs a lot of work, mainly a new roof with decking as it's about 30 years old and rotted through in some locations. We intended to ask for cash towards closing to pay for some of the roof but now with the news of a backup offer we are feeling that our negotiating power is severely limited.
I do however find it suspicious that a backup offer waving inspections and paying more has come in on the day we start inspections after no offers and only a few showings since listing. The house is older, on septic and spring water, and the roof is obviously gone. So I'm finding it unlikely that someone would come in with a stronger offer and wave the inspections outright given the condition of the house.
Is it likely that the seller is stretching the truth about this offer to have more leverage during the inspection period?
submitted by /u/SodiumRodent
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Sudden Backup Offer on Day of Inspections
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Recently put an offer in on a house that had been on market for about 3 weeks. We offered 5% less than the asking price and the offer was accepted within an hour of it being sent.
On the day we started inspections my realtor received a call that the sellers now had a backup offer that is offering more than us and waving all inspections.
The house needs a lot of work, mainly a new roof with decking as it's about 30 years old and rotted through in some locations. We intended to ask for cash towards closing to pay for some of the roof but now with the news of a backup offer we are feeling that our negotiating power is severely limited.
I do however find it suspicious that a backup offer waving inspections and paying more has come in on the day we start inspections after no offers and only a few showings since listing. The house is older, on septic and spring water, and the roof is obviously gone. So I'm finding it unlikely that someone would come in with a stronger offer and wave the inspections outright given the condition of the house.
Is it likely that the seller is stretching the truth about this offer to have more leverage during the inspection period?
submitted by /u/SodiumRodent
[link] [comments]
Sudden Backup Offer on Day of Inspections
Continue reading...