On the market 1 week - got our 1st offer!!

[soccermama]

It's a $12K less offer than what we're selling our house for. LP - $149,900 and the offer is $137,500.
We're meeting with our realtor tonight to do the counter offer paper work. My head is spinning right now 'cause I'm not sure what to think. We're ready to move - physically and somewhat emotionally, but thinking about leaving our first home is a bit more emotional than I thought it was going to be. We're ready to get a bit more space, get DS established in a new pre-school and neighborhood, and ready to add on to our family...... It's a lot to take in and this is our FIRST offer. I had no idea that it was going to happen so quickly!!

Anyone else experienced this and how did you deal with it especially if you have LO's??

[AuntNi]

We must have ESPN, because just a couple days ago, I thought of you, and wondered how your house-selling was going. Glad to hear you already got an offer! I haven't BTDT, so I have no advice - just wanted to chime in to say "congrats on the offer!"

[PapayaMom]

we had our first offer 3 weeks after going on the market it was for $15k under asking lp $129900 offer was $114k it was a stressful back and forth we settled at $122k and the whole thing fell apart at the home inspection for no real reason other than the buyers basically got cold feet. I was very emotional thinking about leaving our home. Fast forward 2.5 months of constant home showings and we got a full priced offer with no nonsense. I am now ready to say goodbye to the home and move on to the next one, that is if something would hurry up and come on the market.

I think some of what you are feeling is because of the speed it happened. I say move forward if you can reach a deal that allows you to comfortable find your next home. If not there are always other buyers out there.

Good luck!

[soccermama]

Originally Posted by AuntNi

We must have ESPN, because just a couple days ago, I thought of you, and wondered how your house-selling was going. Glad to hear you already got an offer! I haven't BTDT, so I have no advice - just wanted to chime in to say "congrats on the offer!"

HA! Thanks, AuntNi!

Yeah, I know what you mean, PapayaMom - I think it's the speed of things and the amount that they offered. We'll just have to play hard ball and be firm on our counter. We're looking to counter $146,900 so that we don't have to bring any money to the table and break even.
We've got one other party interested, but they haven't made an offer yet. Our house and the house across the street were their first two visits. We've had more showings in the first week than in the 6 months when we had our house on the market 2 years ago. It's gotta be this tax credit offer!!

[soccermama]

Update

We countered last night at $147,500 and that includes the buyer's request for a $1,500 closing cost. He has until 10pm this evening to either counter or reject. We'll see how bad he wants the house. H and I decided that the lowest that we'll go at this point is $145,500 and that would mean ZERO money for closing cost. It's too early in the game for US to lose any money.