SFH#1 update
June 1st, 2007 by KenricSFH#1 did not close yesterday as scheduled. Title did not receive the loan docs because the buyer had to switch lenders mid-stream. So we extended the close date to next week. Here we go again!
I received an offer on SLC townhome #2 yesterday also. This is the one with the tenant who smokes. The offer was decent and I’m countering. The buyer is asking for me to replace the carpets and appliances. The biggest issue isn’t price but closing date. My tenant received his 60 day notice to vacate last week. The buyers want to close in June but are willing to wait a few weeks later.
I have a call into the housing authority to see if we can get my tenant out earlier. Hopefully they have another landlord who is looking for a tenant.
Posted in Real Estate | 
Stumble it!
I don’t think countering is a good idea in falling markets and I’ll tell you why. I started my business is a bad market. I would make offers. People would counter offer. I would say “no thanks.” They would come back and say “We’ll accept your original offer.”
At that point I knew that they had no other offers so I would drop the price I was offering even more. Take it or leave it.
Why counteroffer if you have no other offers and they are offering you something you think is acceptable? If they say no, what will you do?
By ubu50 on Jun 1, 2007
UBU50, SLC is not a falling market right now. Time on market in my subdivision is less than 30 days. Prices are actually going up with each sale. My units are the highest priced ever in that subdivision, but they are also the only units for sale right now. BTW, I countered and was accepted, we are officially pending now. Let’s hope it will appraise.
By Kenric on Jun 2, 2007