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We got an offer on the house!

May 22nd, 2011 at 10:45 pm

WE listed the house for saleon Friday the 13th and had our first lookers last week. On saturday, they made an offer. The offer is what we were asking, but they want some changes made.
They want the garage converted to a rec room or family room. That involves taking out the garage door and putting in a french door. Of course, that involves tearing off the hardee plank, trim, etc. Then frame in the house again, insulate the walls, patch up the ripped up drywall and get heat and a/c ducts put in. Of course, everything will have to be repainted 3 coats of paint. They also want the entire floor of the garage and two bedrooms downstairs to be finished in laminate flooring. (Pergo)
We have been discussing this all day and still have not decided whether to accept this offer or not! Any thoughts?? This is a spec house we built with our own money, so we do not have to pay back a bank loan.

Posted in Uncategorized | 8 Comments »

8 Responses to “We got an offer on the house!”

  1. patientsaver Says:
    May 22nd, 2011 at 11:13 pm 1306106011
    1306106011

    It seems they're asking an awful lot, perhaps becus they know your husband built it? You probably know your local real estate market better than anyone here.

    I don't know, maybe do only a portion of what they're asking? Like skip putting the Pergo in the bedrooms, which seems extraneous and really reaching.

  2. WISEWOMAN Says:
    May 23rd, 2011 at 01:24 am 1306113858
    1306113858

    I'm appauled someone would ask you to make "their" home improvements on your dime. Do they plan on paying you? If there was a broken window, broken garage door, leaky roof etc. they should ask for repaired or replaced. Their request is over the top and they are taking advantage of you (IMO).

    I wouldn't do it. It's your first offer in a short period of time. Another one will come along..

    Good luck!

  3. FrugalTexan75 Says:
    May 23rd, 2011 at 01:53 am 1306115617
    1306115617

    That's great you got an offer so quickly! If you got this one this quickly ... then maybe you can afford to counter their offer, or wait. Perhaps give them a quote on how much it would cost for your DH to do these changes, and suggest adding that to the total cost of the house minus ten percent (for purchasing the house.)

  4. terri77 Says:
    May 23rd, 2011 at 02:13 am 1306116815
    1306116815

    Well you probably know better than I would, since you've done this so many times, but it seems a lot to ask of you. Have you ever had so many major changes asked of you before?

  5. Joan.of.the.Arch Says:
    May 23rd, 2011 at 01:01 pm 1306155699
    1306155699

    If your finances are otherwise secure and you can meet any bills on this house easily, I would reject the offer. I bet you would be charging quite a bit for a remodel like that on a house owned by a customer. If you make those changes and the contract falls through for any reason (such as their financing), then you are stuck with a house without a garage but with a large rec-room. I think far more buyers want a house with an attached garage than with a rec room. Don't risk making the house unsellable by having no garage. Besides, would the existing AC and heat system be able to handle the additional space?

  6. MonkeyMama Says:
    May 23rd, 2011 at 02:08 pm 1306159695
    1306159695

    counter-offer.

    That said, Joan is right. Offer to do the work at a discount AFTER the house sells. Draw up a contract.

    On the flip side, home builders do take that risk. When we bought our home we had ample opportunity to customize it ahead of time. To convert a garage to a room was maybe $10k-$20k, but that was before the house was built.

    As far as taking the offer or not, depends on the market. If there will be other offers, I'd just say no. A counter-offer may give you an opportunity to make more money with the changes, though. Depends how much THEY Want it.

  7. North Georgia Gal Says:
    May 23rd, 2011 at 05:37 pm 1306172247
    1306172247

    I think that is ridiculous. They want you to completely remodel the house! I wouldn't do that for asking price. I would counter with a higher price for all they want done. It isn't just a simple quick fix.

  8. Wonderlake653 Says:
    May 24th, 2011 at 03:19 am 1306207168
    1306207168

    What would be the costs of the materials for the job? If you can do it for under $10K then I think that is reasonable, because it is a buyers market and lots of other homes are vacant. You could have had a buy that was offering you 10% less than your asking price. I don't think your husband would mind doing the extra work, however, I would make the changes contingent on the closing on the house, not that your husband tears up the house and the deal falls through.

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