Chase High Counter Offer

We made an offer of $365,000 on a great condo in California which was accepted by the seller. We've been waiting since July 25th for Chase to either accept or counter. Well, last night, Chase came back with counter of $435,000! WAY far from the comps in the area. In fact, the exact same unit literally next door (which was turnkey) sold for $399,000 5 days ago. If we counter for $385,000 would they just laugh at us and deny us? There are major HOA fees that are associated with this property as well AND it's set to foreclose in 10 days. (we've pushed the date back twice already) 

Views: 284

▶ Reply to This

Replies to This Discussion

Permalink Reply by Richard on November 9, 2011 at 10:04am

I agree with Harry.  Time is on their side.  If they know about the next door comp, and that's close to the market value so, what's to lose?

Permalink Reply by Kimberley Kelly on November 10, 2011 at 2:53am

Follow Harry's advice..pretty basic.  No guarantee, but throw it at the wall..

 

Permalink Reply by Lauren Michaels on November 10, 2011 at 12:42pm

Thanks for the advice everyone! We got a verbal last night from the negotiator that Chase will drop to 400k which we agreed we'll pay. The contract is coming back with the original # of 435K and we're going to counter with the 400k (that they verbally agreed on). Is this the way it's typically done? 

RSS

Members

© 2024   Created by Short Sale Superstars LLC.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************