Is this offer unreasonable?
We received a counteroffer on our home sale and I’m trying to figure out if it’s fair or too aggressive. From my experience in this area, it’s way too aggressive. We using a flat fee service in Indiana.
Here are the terms the buyer is asking for:
- Purchase price: ~$180,000 (asking 174k)
- Buyer broker compensation: 3% (~$5,400)
- Seller concessions: $6,000 toward
- Buyer also asked for splitting standard closing costs
- Possession: Buyer requesting immediate possession
- Inspection with the ability to ask for us to pay for repairs
I was an agent for a long time and let my license expire because we are moving out of state and it was cheaper to list FSBO than with my brokerage (6%). I’ve never seen an offer like this in my several years experience. I would not advise a seller to accept this offer either. There is way too much of a risk with this, as who knows if FHA will appraise for 180k? That is 6k above asking. Immediate possession is way too quick, as well. The other issue is being on the hook for 6k towards closing with the house again, not certain to be appraised for 180k. I’d also love to know what the agent could be doing that’s worth 3%. All she’s done is argue about limited representation and refuse to send the offers to me directly despite it being asked to send offers to me, the owner by the list agent??
The house has no issues, large lot with a guest house and pole barn which is a rare find at this price within 60 miles of us. Buyers want us to cough up 6k for them to move because they cannot afford the house I’m assuming?