May 10, 2006
A Counter-Offer Closer to my First Potential Flip
I received a counter-offer 48 hours after submission of my $55,000 below-asking offer price and I was pleasantly surprised by their response. They countered $10,000 higher than my offer price with an “as-is”
sale provision (well, removal of the inspection clause from the contract). I’ve thought about my analysis of the property and feel comfortable meeting them in the middle with a $5,000 bump in my offer, but there’s no way I’m willing to forego the opportunity to have a full inspection of the house before the deal closes. My agent suggested we soften the counter-counter-offer by stating that the inspection will be complete within 10 days of the contract signing, which should provide some comfort to the sellers since that will prevent them from wasting too much time if I find something seriously wrong with the house and back out of the deal after the inspection. The waiting part of this process kills me, so I hope it doesn’t take them two days to respond again.