Either the numbers work, or they don't.

Get an appraisal, and if the sales price is greater than the appraised value, then let the seller keep his overpriced property. Perhaps, the realization of more price erosion and holding-cost losses will help to inspire him to soften his position.

If $2K isn't a lot for you to spend, then it's also not a lot for him to lose. So, if that seller is willing to lose a sale over a point of pride, then let him.

Jefferson is right that if you really want the house, $2k maybe should not prevent you from buying it. Over the long run, you're not too far apart. The question is: how badly do you want this house?

Linesville, PA is hardly the center of the universe for a seller to be such a hard case. But ... are there mitigating factors? Is this great lakefront property? What are the Sold Comps? Are you already gettting the place at a discount?

Also consider that if this is a super lot on a lake that $2K isn't a lot to spend on a home. what kind of defect is it? Sometimes $2K to an inspector is $500-700 as a DIY project. Is this defect the kind that would prohibit a Certificate of Occupancy? If so then THEY are up a Creek! In PA - it is law that the seller deals with these on a normal re-sale. hahaha

In any case, I'm not sure that I'd agree that $2K is a major defect. On a 30 year mortgage $2K is $10 per month.

Would you provide more details? If the home is "just another single family home" in that area - with no really distinguishing features (not lakefront, outdated kitchen, etc). Then you CAN just push back on them and say in your post inspection adenddum - "take off $2K" and this offer is good for 24 hours - period. If you go this route, make sure that your agent is really impressing upon THEIR agent that if they don't comply then this is a new disclosure for them and a major one.

The ball is in your court!

Have your realtor provide you with a broker price opinion of the property to determine a realistic value of the home,

Base your offer on a realistic price, not some price you pull out of a hat,

If the home owner refuses to accept your justified offer, walk!

I'd counter with an adjusted offer anyway; I'd politely ask the seller to keep me in mind provided he'd like to reconsider my offer; and I'd move on to the next deal.

Just wait it out. He must now disclose this to all potential buyers in the seller disclosure. He will have to come down in price to reflect the damages if he is truely priced too high.


Sean Dawes
Long and Foster Real Estate

You can request anything you want, but seller does not HAVE TO comply. He's made his point: take it or leave it. If you want the house, know that he does not have to fix it for you. If you don't really care, then walk away from it. Perhaps he's bluffing.
You could also offer to split the cost with him 50/50. Whatever you do, put your reply to him in writing and see what he does then.
Do you have a buyer's agent? That person should be guiding you through this.

I agree with the answers that others have provided but want to also add that if this is a major defect as you stated, then wouldn't it be mandatory that this defect also be disclosed to any future potential buyers? You might want to ask your realtor about that guideline.

Who knows? If you're not in a big hurry, it might pay for you to hold off a bit, look around for something else, then see if the seller is more willing to negotiate with you later. I've always felt that sometimes things just aren't meant to be for one reason or another.

Good luck!

Keep in mind that the seller owns the property and has every right to say what they will or won't sell for. It is a misconception that the seller needs to come down from list price. It may be that the seller has taken the 'major defect' into account when pricing the home in the first place, and that it is very well priced already.
If the price they are willing to sell for does not suit you...buy something else. It is as simple as that!

If the seller won't budge further on the price, and the price isn't acceptable to you, then hold to your inspection contingency and walk away. It's as simple as that.

The market varies a great deal ... area by area ... and every home and situation is different. Most people are choosing a home because it fits their needs, they love the neighborhood, the schools are right, its close to shopping or freeway access, etc.. From your example, the difference in cost to either you as the Buy or to the Seller is minimal. If this is the right home, then your agent will help you to make the purchase and make sure that you get everything the contract entitled you to receive. If you used a certain real estate contract, then it's quite possible that the seller would be required to make certain repairs and wont have a choice. If you used a different contract, then the home is sold As-Is and the seller is within their rights to say "no".
Either way ... if this is the right home, then focus on that and start packing.

Like the old saying "you can lead a horse to water but you can't make him drink". Unfortunately you may be dealing with a seller that is stubborn as a mule. If your agent has witnessed signs from the seller or the seller's agent that he may be willing to consider alternate terms then I would make a consession of some sort in exchange for what you want. Otherwise, he does not have to negotiate once the contract is already signed. Most purchase contracts are written for properties "as is". It is up to you if you wish to move forward with this seller or choose another home. But be sure to abide by the timeframes outlined in your contract or you may jeopardize your good faith deposit. Good luck.

You need to be ready to walk away or they have no reason to budge on the price, back out, if the seller dosn't reconsider and call you back, then you can always go back to the seller at his take it or leave it counter offer.