Saw a property that came on the market a week ago, list price 289,900, 4/3, 3.75 acres, no offers, toured it after a week.
We are cash buyers but not investors – independent contractors with variable income who don’t want to leave things up to chance.
House got an offer just before we put in ours, conventional financing, a little over list we think.
We wanted to offer 10k below, 10 day due diligence (lots of inspections necessary – standard home, known pass off to structural engineer, septic, well, radon – at the minimum) and 48 hr turn around for sellers disclosure after binding agreement.
Woke up to a counter offer. They wanted five days due diligence to match their conventional loan offer and informed us that apparently they had just missed marked everything! And oh… they must’ve just forgotten to tell us that it was just gonna be sold as is!!!
Apparently, they might be able to be willing to go down a little bit on price, but it was only like 5K tops so we withdrew our offer. Going to keep tabs on the property and see if it actually sells or if it’s just floats around on the market. If they wanted to sell ‘as is,’ they would’ve gotten an ‘as is’ offer from us. And that would’ve looked some thing like 240 cash with 10 day due diligence, cost of repairs not to exceed 35-40k.
And if the deal that they have nowfalls though, that’s all that they can expect from us. Lots of indications over the last few days that they’ve been acting in bad faith.