Negotiating a house price......

[Minnie_me]

I'm about to make an offer on a home. It's priced reasonably, but I would like to offer a little bit lower. Something that confuses me is that there is a brand-new washer/dryer set (beautiful, front loading, top of the line) in the house right now. The realtor told me that the owner is willing to negotiate them as part of the deal. And then, on the other hand, they had purchased a brand-new fridge........and took it with them! So, while I may be gaining a washer/dryer, I need to get a new fridge.

How should I go about negotiating this???

 

[RachaelA]

Well if you want the washer and dryer put it in your offer.

Also you can buy a cheap fridge on craigslist for less than a couple hundred bucks.

Do you want them to buy you a new fridge? If you do, put it in the offer, but just be warned that they'll probably buy the cheapest one possible.

Do you not have your own realtor that can be advising you on this? I'm not a fan of situations where the realtor represents both the buyer and seller. I don't feel like they can give you the best advice possible.

 

[loonieroonie]

I agree with the PP, put it in your offer. If you want it make sure it's in writing. Same with a fridge, some sellers will give you an allowance for one at closing (ask for a $ amount not just seller to provide a fridge or they'll buy the cheapest one). If you ask for an allowance to buy a fridge, depending on your state, you'll have to choose a vendor where you'll buy the fridge from (Home Depot, Best Buy, etc.). The seller can give you a gift card to that location or write a check to that location (again depends on if the seller agrees and what your state allows).

I hope you have a realtor representing you. It's best to have someone on your side not just on the seller's side. Good Luck.

 

[zoemurr]

They had a high end stove that they took with them. We got an allowance
($700 I think?) for a new one. They just took that amt. off the purchase price.

I guess in your offer I would ask for the w/d and an allowance for the fridge. I would also ask for the window treatments if they are not included. It's nice to not have to worry about that right away.

There are also a few other things you might want to ask for after you have an inspection, depending on it's condition. In our first house they had to fix something with the roof, and this house they had to spray for beetles that were in the basement.

Good luck!

 

[kathie859]

Be careful putting NON REAL ESTATE related items in a contract. If you are payng cash--it's fine; however, if you are getting a mortgage (depending what type of mortgage you are doing--FHA/VA/Conforming). Some lenders will have the appraiser back out the value of the non-real estate items--it's a pain to deal with . And some will insist on an addendum removing any reference to non real estate items. Usually, kitchen appliances are the exception as they are included in a real estate sale as usual and customary.

I've seen contracts with pool tables, riding lawn mowers, decorator drapes, etc. included. It used to be no big deal--but contracts are under closer scrutiny since the credit crunch and mortgage crisis.

The poster who mentioned not using a dual agent is dead on. Make sure you have someone who is representing YOUR interests only.

Happy Hunting

 

[loonieroonie]

Be careful putting NON REAL ESTATE related items in a contract. If you are payng cash--it's fine; however, if you are getting a mortgage (depending what type of mortgage you are doing--FHA/VA/Conforming). Some lenders will have the appraiser back out the value of the non-real estate items--it's a pain to deal with . And some will insist on an addendum removing any reference to non real estate items. Usually, kitchen appliances are the exception as they are included in a real estate sale as usual and customary.

I've seen contracts with pool tables, riding lawn mowers, decorator drapes, etc. included. It used to be no big deal--but contracts are under closer scrutiny since the credit crunch and mortgage crisis.

The poster who mentioned not using a dual agent is dead on. Make sure you have someone who is representing YOUR interests only.

Happy Hunting

Your Realtor should use a bill of sale form for non-real estate items such as pool tables, etc. Bill of sale will also list the price you are buying items for from the seller, or state $0 if seller is giving it to you. Also, make sure to get a seller's disclosure if it's something completed by the seller in your state. It should list items that will be left by the seller, such as window treatments, light fixtures, etc.

 

[JamesMom]

I sold a house where the buyers wanted the fridge. I was happy to sell it to them. Worked to everyone's advantage.
The buyers VA loan apprasial came in UNDER the agreed upon and deposited sale price so to avoid losing the deal, we did a bill of sale on the fridge (paid cash at closing) for the difference between the apprasail and the purchase price. I needed the the full purchase price to clear enough cash for the new house down payment so could not negociate further pricing. Worked out great per the real estate agent's suggestion.

 

[Minnie_me]

Thanks everyone -- unfortunately my realtor is actually working for the sellers as well. But I've known her for 20 years, and trust her to do what's best for me.

 

[muscarello4]

Dual Agent Dilemma:

We once sold a house where our agent was also the buyer's agent. I don't care how well you know the agent, it is impossible for someone to represent both you and the buyer fairly.

Our agent brought in buyers who wrote a contract for $5000 under list. She thought it was a good deal, but in the mean time, we got another contract for $2000 under list (with a different realtor). We ended up playing them off of each other and got full asking price. This was OUR idea, not hers. She just wanted us to accept HER buyer's offer.

We've bought and sold enough houses that we knew how to play the game. Had we not, we would have lost out on a good deal of money. Be CAREFUL! It's a HUGE investment. You want to make sure that YOUR interests are being represented. Also NEVER, NEVER, NEVER sign a buyer's agreement with an agent. If my agent isn't working out for me, I will move on to the next one. (We've never had to do it, but I like having the flexibility in case I get a dud.)

Good luck with your house purchase!

 

[PA Princess]

The fridge thing can be a regional item. In this area it is not customary for the fridge or washer and dryer to stay with a house. They may be negotiated into the deal.

Personally, I prefer to get a new fridge with a new house. I hate using someone else's fridge. We sold our home last June and we left the fridge behind for the seller, but we were ready for a new one.

I agree with others that it would be best to find an agent that respresents your interests.

 

[Mom2Ben02]

Make sure if you want THAT washer and dryer you state it - model #, etc - so they don't go out and buy you a cheap set.

When we sold our first home, the washer and dryer were not part of the deal. Or so we thought...

When they gave us their offer, they apparently wrote in that they wanted them included. Our real estate agent did not point it out, and we did notice it. We rented a "pod" - and the w&d were the FIRST things to go in. When they came back to look at the house, they asked where they were. Of course, there was NO WAY I was taking a 5 year old w&d dryer with us, and buying them a new set, so we (DH) had to unpack the whole pod and hook them back up. What a PITA!!

 

[P.I. Squirrel]

Thanks everyone -- unfortunately my realtor is actually working for the sellers as well. But I've known her for 20 years, and trust her to do what's best for me.

But she won't. She can't, by law, give you any insider info on what is in the seller's mind, or what kind of deal they are willing to settle for (that's confidetial). You see, she is paid, handsomely, by the seller. She gets the full commission if she also represents you, but has to split it if you get an agent. So, it's in her best interest, and not yours, to get as high a price for the house as possible. Hopefully, she hasn't attempted to dissuade you from getting your own agent, since then we'd have to add 'dishonest' to the list.

Even though you've known her all these years, it's still advisable to get your own buyer's agent. I'd hate to see a friendship go to waste over buyer's remorse.

As far as the washer /dryer go, if you want it, the seller likely would ask for a full price offer. If you want a cheaper price, be ready to give up the appliances. Also, if you are submitting what you consider to be a fair offer, put a short fuse on it, say 24 hours. This puts pressure on the buyer to sell or counter quickly, rather than waiting for more bids from others.

 

[rie'smom]

I'd make a lower offer and then buy my own w/d. Depending upon where you live, lowball the offer. You'd be surprised with might be countered. The worst they can do is come back with an offer just a little offer than the asking price. We just bought a second home and got it $15K less than asking. They also threw in a party barge, jet ski, all the furniture and appliances. They didn't even counter. We were shocked but you don't know until you try.
Just a heads up- we've had 2 front loaders that gave us nothing but trouble. We just bought an extra lg capacity top loader that is a dream. The front loaders look nice but when they start giving problems, they are very expensive to repair.

 

[Purseval]

Since you said the people have taken the fridge it sounds like they have already moved out. If they have, where have they gone? Put yourself in their shoes and see if you would go through the trouble of coming back for the washer and dryer. Just from what I've read it sounds like they didn't want to take them in the first place or else they would have moved them the same time as all the other stuff. When you decide, make your best offer and ignore the washer and dryer, you either get a low enough price to buy new stuff or they leave it anyway.

 

[DISdreamin']

With the amount of money at risk, and having once made the mistake of using the sellers agents as ours...get your own agent!!!! Our deal worked out alright, but it could have gone so, SO wrong. You need someone representing *you* and you alone. No one can fairly represent both sides in a negotiation IMHO.

As for washer, drier, fridge, if you have cash on hand, I'd just negotiate for the house only and get new appliances. That way you have warranties on them and you know they're new (priceless for a fridge, IMO).

Good luck!

 

[thebeesknees]

Yep, our new house didn't come with washer, dryer or refrigerator, and we didn't ask for them, or an allowance for them, either. We just offered what we felt was a fair price, and since the house had sat on the market for so long, they took it with just a tiny bit of negotiation. Do what you feel is best, but if it was me, I'd make the lower offer and just get my own new appliances. I'd rather have something I knew worked properly for the trade-off in the lower house price. Over the length of the loan, that will make a bigger difference than getting the appliances thrown in, instead.