Chosen by Asker

Ask the agent if they would be willing to negotiate the price of they house if you have it appraised. Unless someone is going to pay them full asking price in cash, no lender will loan money on a house that appraises for less then the loan requested. Many people do not understand that sitting with a house on the market with too high an asking price actually ends up costing them more then selling it for less then they wanted to sell it for. Part of this is the agents fault for not making them understand that they are pricing themselves out of the market in relation to the comps. Remember, it is a buyers market not a sellers. If they are unwilling to entertain reasonable offers, walk away, you may find something even better because of it. Good Luck!!

by Samantha

1 month ago

Asker's Rating: 

They probably are in debt over their ears and have to get more money than what their house is worth to sell it. Time to move on, and find a new place.

by Matt- 1 month ago

People sometimes make "unreasonable" decisions about how much their house is worth. They may believe it has a certain value, and won't take less than that. Alternatively, they may not be in any hurry to sell. It's possible they're willing to leave it on the market, even for a year or more, waiting and hoping the price will come back up. And maybe their financial situation is such that they can't accept the offer. For example, if they owe more than $175,000 on the house, it's possible that they can't afford to take your offer, because they don't have any cash to make up the difference between the value of their loan and the selling price. It may be, in that case, that it's better for them to just let the home go into foreclosure and declare bankruptcy. There's many reasons why people won't sell things at market price. In most cases, there is nothing you can do to change their mind, because it's entirely their personal perspective and financial situation.

by Qwyrx- 1 month ago

Alot of sellers don"t need to sell they will sell if they get what they want. It is frustrating but if they have not done a price reduction in five months than I would bet to say that they are just testing the waters. Also sounds like the house wouldn't appraise out if they got what they wanted anyway. Move on, there are plenty of homes on the market!

by jaytee- 1 month ago

You can't force a seller to lower their price. Just move on.

by jlf- 1 month ago

It maybe that they are holding out for more or better offers. If the property is overpriced, it will not be sold. If the appraisal comes in under the seller's price, the bank will not ok a loan unless the buyer comes up with the difference. And who wants to start out with negative equity? It all comes down to the appraisal.

by loladrewblue- 1 month ago

If it is a short sale, it may be the bank stalling the process to squeeze more money out of the homeowner. They may be at the point where they are about to go into foreclosure, but can just barely scrape by on their mortgage payments. So, the bank, who technically owns the house if they have more debt on it than it is worth, have to approve the purchase price.

by LilBlossom- 1 month ago