Buying a house: negotiations!

<p>We will be negotiating selling our house as a teardown; deadline for offers are the end of the week. We’ve already got two offers at the same price; one is mortgage and the other is cash. (Thanks for the reminder about checking for pre-approval). But we also want extended post-possession so that will come into play. We don’t have an agent but we do have a lawyer to review everything. I’m assuming we can make counter-offers - can we ask the attorney to relay them, or should we do it directly? My initial contacts with all potential buyers was direct but we are cc’ing the lawyer on everything coming in.</p>

<p>A recommendation: If you as buyer decide to use the seller’s agent (agent then representing you both), choose your own inspector.</p>

<p>We had a deal fall through with a buyer who was supposedly “pre-approved” for a mortgage. Turns out that was dependent on selling the house they already owned first. </p>

<p>“pre-approve” can mean 19 different things. Unless it is on a BANK’s letterhead with the exact amount and interest rate, it is just going to swing either way. Mortgage Broker’s approval means nothing.</p>

<p>This is going to be really different advice than the practical and logical advice you’re getting from everybody else here, but it’s worked for me. Trust that things will work out as they are supposed to and don’t offer more than you’re willing to pay. To me, it’s a red flag that you’re not loving the house. My post-divorce house is not as big and fancy as my pre-divorce house was, but when I walked in the door, I knew it was “home”. I’d had a couple deals fall through already (lost one to a better offer, backed out of one after a horrendous home inspection) and now I know why- I was meant to be HERE. This is home and it’s worked out great :slight_smile: Definitely make any offer contingent on a satisfactory home inspection and get a good inspector. That one house that fell through would have cost me tens of thousands of dollars to fix. Ack. </p>

<p>Thanks everyone! Will respond in more detail when I get a chance!</p>