We are looking at buying our forever home. Our budget was between 800k and 1.1M.
We found a perfect home. It literally checks off every single box, the only issue is that it’s a very large home. But eventually we can grow into it. The home was last sold in April 2025 for 980,000. The current owner has done nothing to it. Other than upkeep it nicely. They sadly went into business with a business that failed here recently and they have to move for a new job. Bad circumstances so they do need to get out within a month or two.
My husband and I are gonna offer 1 million at the end of the day, because according to our local real estate friends that is what it’s worth. The house has not even hit the market yet. It’s supposed to hit it on Monday. Our agent called the sellers agent and they are claiming a couple is coming into town to specifically view this house this weekend. But our agent told them we love the home and are forming an offer now.
My husband and I are firm on not wanting to pay more than a home is worth. But are considering not asking for closing costs and not asking for them to leave appliances. But curious to see if others think this is a scare tactic and we should hold or if we should consider going up a little (or possibly walking away).
Note: this is a lower cost of living area and homes above 800k typically sit on the market for 6 months to a year. There are not a ton of them (2 on the market right now).
Second Note: we are not in a rush for a home. So we are happy to wait another year or 2 for another home that we love.
Should we believe the Sellers Agent?
byu/lochnessrunner inRealEstate
Posted by lochnessrunner
25 Comments
I didn’t read your post but the answer is no
There’s no real way to know if they’re telling you the truth or not. Make your best offer and move on.
What is there to believe the seller on? If they have someone who will be looking at the house this weekend? Since you know about the house and are interested enough to write an offer, I’d assume that the agent and seller are actively pre-marketing the property and that other people will be interested, too.
But other people don’t matter, you should base any offer on what you think the property is worth.
Seller agents responsibility is to look out for the best interest of their client. Maybe they are lying, maybe not. If you like the house, put an offer. Changes are if you like the house, so will others, so you might need to compete with other offers. Good luck
Just make your offer as planned and make it w 24 hr response expiration. But truthfully, I think it’ll sit if what you say checks out and homes $800k+ sit for awhile.
Make the offer you feel comfortable with and be prepared to not get the house.
Make your best offer and see what happens. If you like the home then go for it and lean into the agent you hired to help you. The home will appreciate over time and what you pay for it now has little to do with what it will be worth down the road. If you are not really in the market, not really motivated or just looking for a deal you probably will be waiting a while for that. The deals are owning a home you love, enjoy, can improve upon and can afford. Equity is built through holding the home, making improvements and paying down the mortgage. All the best!
I’ll never get wanting someone’s old appliances unless they are very high end, but maybe I’m a germaphobe. Just put your best offer if it’s your perfect home is all you can do. Overpayment is subjective, the market dictates the worth.
When to believe a seller’s agent (as a buyer): when they put provable facts in writing.
Recap of situation OP described: seller is desperate to sell due to job/move; local houses take a long time to sell at this price point (3x as long as the seller needs it to take). OP does not need to buy.
What should the OP do in the situation she described: wish the seller’s agent good luck with the couple coming into town, and please let us know if the house is still available in a few weeks.
Then a month from now, offer them $900k.
You have not said how much they are asking which is a critical piece of info.
The home is worth what the market dictates. What the seller paid or their lack of updates is irrelevant. The market changes even if the house doesn’t. Another Buyer willing to pay more than you means the home is worth more.
Other people may or may not be coming to see it. Assume they are.
Getting a contract before it hits the market is a privilege and giving the Seller what they want is the most surefire way to get the house. Trying to go lower than they plan to list for is the best way to ensure they list it and put it out there for everyone to see.
I appreciate not wanting to pay more than a home is worth. That said, if you’re willing to pay $1 million and another buyer is willing to pay $1.2 million, the home is worth $1.2 million.
I would question whether the things you’re considering even matter to the seller.
* From the seller’s prospective, there’s no difference between a reduced sale price and credit for closing costs. I would just offer the price you’re willing to pay, unless you need the liquidity to make the deal happen.
* Whether the appliances matters depends on whether they would move them anyway. It’s a hassle and their next home may already have them. If you want to sweeten the deal, I would offer XXX to leave them (about 40-50% of market value).
More generally, make the offer you want to make. They’ll either accept it, come back with a counteroffer, or turn you down.
Don’t believe the sellers agent but also don’t believe your supposed local real estate friends without seeing the data they’re using to make that claim. Offering 1m when it was 980k last year feels like it may well be overpaying. Look at actual sold comps and offer accordingly or you are likely going to end up overpaying.
Put in the offer for what the house is worth to you. It’s probably not a scare tactic. It’s courteous to let a serious buyer know if there is another serious buyer circling. If the listing agent didn’t disclose this and you missed out, you would say “why didn’t the agent tell us?”.
Ask your agent to ask their agent what they want, and if you want the place, offer that.
If you dont need closing costs, don’t ask for them. Just offer the price you are comfortable paying. Other than that no way to tell if they are telling the truth or not.
The second couple scenario sounds like bs honestly. Wait until after it lists. Then you can ask why the supposed other couple passed on it and offer less. If you are willing to wait and it doesn’t matter then don’t get taken advantage of with this tactic. If it’s soemthing you’ll always regret not getting then do whatever if you have enough money to do it.
In this situation, as in the rest of life, assume that anyone that tells you anything is putting their own interests first. Given that you should put your own interests first in everything – be fair but put your interests first.
It’s a crapshoot. But don’t pay more than it’s worth because of FOMO. Use you lr head not panic and emotions.
If the seller offers commission to buyer’s agent why would you go unrepresented. A realtor who works in the area will answer these questions and represent you
Can’t tell you. However, as a seller I tell my agent to let others know when we do have an offer at listing or market value. Not for competition just to be upfront if we haven’t gone under contract yet and we’re considering the offer and they are thinking of offering and/or want a second viewing.
I don’t like wasting peoples time and others see this as a bidding war tactic when it’s really just being transparent.
The fact they said something and there’s no offer (paper in hand) is just weird. Still put in what you plan to offer and let them decide. For all we know the people decide they aren’t interested after seeing it (if they really exist)
I wouldn’t bid above asking price because again they don’t even have an offer on hand so that to me is nothing, but wasted lip service.
not asking to leave appliances strikes me as a fairly weak bargaining point, unless they are super high end and the seller has already indicated that they want to take them with them
Has the sellers agent said what they expect to list it for?
Regardless if someone is looking at it or not, make the offer you are comfortable with. They are going to have to pay realtor fees and closing costs so at $1million it’s going to be a loss for them, so who knows if they’ll accept it or wait to see. I would expect to lose money owning a home for less than a year in this environment.
If it hasn’t hit the market, it could be likely someone else is going to look at it just like you did.
Man those out of state sellers always seem to be coming in that weekend…we had the same bs pulled on us and we made the same exact offer we were going to make before.
Don’t forget at a million you’ll also pay mansion tax.