Update on my St. George lot
November 22nd, 2006 by KenricOn Monday, I countered the offer on my lot with a slight price reduction from the asking price. The buyers came back by raising their price a little also. I guess we’re in the back and forth negotiation phase. It seems like these buyer really do intend to buy the lot and they also want to build a home there. I stood firm on my price because their next alternative is to pay $15,000 more for the next available lot. They have until tomorrow to respond.
There is also another offer waiting if the negotiations with these buyers don’t work out. This second offer would be full price however they want seller financing. I have to come up with some terms for the financing. I’m thinking 20% down and 10% interest with a 3 year balloon. That would put $15,000 in my pocket and give me payments of about $650/mo.
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