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2 bidders enter, one shall leave
Maguano
Registered User regular
Registered User regular
Hi all, I'm in the not so envious position of selling my parents house. Long story short, there are 2 bids on the house
the original bidder is now the high bidder (after counter offering), but is coming in with 0% down VA loan
The second bidder is coming in with an FHA loan and a down payment, but the bid is lower, (about 5k lower or about 1.5% of the current bid).
The thing is am I crazy for going with the lower bid? The lower bid would be moving from an apartment, (and has 2 small children) which means they have the pulling-on-the-heartstrings vote...and in the grand scheme of things, 5k isn't that much...
ah the joys of getting old
the original bidder is now the high bidder (after counter offering), but is coming in with 0% down VA loan
The second bidder is coming in with an FHA loan and a down payment, but the bid is lower, (about 5k lower or about 1.5% of the current bid).
The thing is am I crazy for going with the lower bid? The lower bid would be moving from an apartment, (and has 2 small children) which means they have the pulling-on-the-heartstrings vote...and in the grand scheme of things, 5k isn't that much...
ah the joys of getting old
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Does it make financial sense? ehhhhhhh Not really.
But sometimes we do things that don't make much financial sense because it makes us feel better.
4700 for you - are you the sole beneficiary?
150 for your realtor
150 for theirs
If I was your realtor I'd be a bit annoyed at losing out on that $150 esp since if you are in the offer-counter offer stage that is a bit of extra work for them.
And IDK if I'd pass on 4700. You could. You could also take the 4700, and give the lower bidder $1k. Or hell give them all of it.
And I mean its not like the person with the VA loan is some undeserving spoiled brat or something. They did serve. Heck I might go with them just to avoid any questions on why you turned down a higher offer from a veteran. Sounds like housing discrimination to me.(I kid...sorta)
I'm more concerned that the FHA loan bid will have an "easier" time with the appraisal part as we are trying to sell this as is, and with the VA loans "stricter" in their appraisals, we are handcuffed in what we could say we don't want to fix (if there is anything needed fixing).
And not once did I say anything about the first bidder not being deserving/undeserving it due to their veteran status...
gamertag:Maguano71
Switch:SW-8428-8279-1687
Nobody's saying you did. I think tinwhiskers was just giving you another way to look at it he thought you might not have considered and that could be helpful, since the personal/emotional aspect of it seemed to be complicating the decision for you.
Personally I think you're not crazy, I'd go with the FHA if you're looking to sell as-is and they're cool with the things that need fixing.
gamertag:Maguano71
Switch:SW-8428-8279-1687