Offer on overpriced home?

[pikabike]

Originally Posted by Grlzrl

I know it's a long thread but we did make an offer assuming there would be room for negotiating. But I knew then (and I said this early on) that as overpriced as this house was, it would sit and sit on the market and they wouldn't be ready to see that the market was much lower for a long time. They did counter but only a tiny bit and at the time, it made more sense to wait both for them to get reasonable and our circumstances. So it's been a year now and we are in a situation that if it were priced right, we could move forward. But now it's off the market. I said it would sit for two years, as many of the listing that were way high by this realtor have done.

The seller can obviously see what homes have been selling for.

The seller obviously can wait for a better offer, never mind what you think it “should” be worth.

You keep calling the property “my house” when it belongs to someone else who does not consider your previous offer high enough. So either raise your new offer or start looking for a different house.

[Zenstyle]

Personally, I would find it hilarious if the homeowners sold their house for pennies on the dollar to a Community Land Trust.

[AlterEgo42]

Originally Posted by Grlzrl

Yes, I thought of that but do people really buy into that anymore? Most people who are serious buyers can look that up in about two seconds.

Who knows what these people are thinking.

[SFBayBoomer]

Considering that the timing of the house being pulled from the market coincides with the property tax bills in your area being mailed out, do you think it's possible that the sellers want to concentrate on contesting their property tax bill before it's formally listed again?

In California, it doesn't matter what a listed property shows as taxes paid, since taxes will reset with the sale to a new buyer, but isn't that different in Illinois?

Wouldn't it behoove the seller to be able to list the house with the lowest tax bill possible in order to make it more attractive to buyers?

[Grlzrl]

Originally Posted by SFBayBoomer

Considering that the timing of the house being pulled from the market coincides with the property tax bills in your area being mailed out, do you think it's possible that the sellers want to concentrate on contesting their property tax bill before it's formally listed again?

In California, it doesn't matter what a listed property shows as taxes paid, since taxes will reset with the sale to a new buyer, but isn't that different in Illinois?

Wouldn't it behoove the seller to be able to list the house with the lowest tax bill possible in order to make it more attractive to buyers?

When assessments came out, I looked theirs up to see if it went up a huge amount like some of my neighbors' houses did. They really didn't go up all that much and in looking at the comps, there really wasn't room for an appeal. And in fact, they didn't appeal it because you can see if there is a pending appeal on a property. They haven't appealed it since 2016. Some people around don't seem to realize you can appeal it every year but they obviously would have known you could appeal it this year. Oddly, even though that neighborhood has a range of very old to very new houses of a wide range of sizes, it is pretty fairly assessed. My neighborhood of pretty homogeneous homes.....all over the map. I also found out that they have a bunch of homes, including mine, listed as a golf course home when it is not. Not sure how that happened. My neighbors want to do a neighborhood appeal but I don't really see the point. I can just appeal mine individually every time and so can anyone else.

[BoBromhal]

did I see the other day that you moved to your current home in the last 4 years?