I recently put an offer in on a house. I offered 5k over the listing price, with no contingencies. The house has allot of deferred maintenance and almost
30k in damage according the pest report. There is also a trailer, and a broken down car on the property, in which I accepted responsibility for the cost of removal of these items.
The seller came back with a counter offer that was 20% higher that the listing price. Had I known that is the price range it would be in, I never would have considered even looking at the property. This property is in the SF Bay area.
I offered everything I could to secure the deal, but now I get back this counter offer that seems irrational. I know there was only one more offer on the house, and ours was signed by 2 of the 3 heirs to the property, the third person did not sign and raised the price via a counter offer. (on the counter offer only the third heir signed) Is this legal/ethical. I know you can sell a house for what you want, but it seems to me in a slow market, price should be determined before the listing, not after 2 offers are received.