The House Buying Experiment - Round One
We made an offer on our first home - our first major investment. It went down.
The house was appraised at: $191,000
It was purchased for $181,000
They were asking: $179,500. Motivated Seller.
We offered 10% less - $162,000, and I was expecting a counter offer - I know I made a low offer, but “buyer’s market” and “motivated seller” equals “me making a low offer.” Oh well! We moved on to our other choice - a house in front of elevated rail road tracks. It was our original desire to get this house:
Appraised: $198,000
Purchased: $140,000
Asking: $175,000
I’m offering $160,000 - same reason as before - I’m looking for a deal, and to haggle. If they don’t counter offer, we’ll keep looking.
Of course, we could stretch out our budget and maybe we’ll write a post like Mighty Bargain Hunter about how we bought more house and got the banks to be suckers and forgive part of our loan. Or go bankrupt trying to hassle the system. I think we’ll stay legit and honest and buy a house we can afford, not a house that will do us in.
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