This is a variation on what Maria said, but even if not facing foreclosure, they could easily have a set amount they need to clear to cover their current mortgage plus closing expenses.

also, fwiw, in my opinion, realtors have a strong incentive to close the deal and not actually get you the best price. Yes, they get more if you offer more, but they are getting 3% and usually actually taking home less. So 1-3% of that 20K is very small to them. It raises your payment by a few hundred dollars per month (maybe), but to the sellers, that is likely cash that either goes in their pocket or they have to come to closing with. I think that is often countered by the huge pressure to accept an offer (yay! an actual buyer!!!) but they may not have been in the market long enough yet to see that.

But there's no need to be rude about it.

Beth, that makes sense. If they had come down 5 we would have considered it. The other problem is the bank appraisers have to find it worth the selling price and at their current price, I doubt they would.

The other problem is our lease is set to renew soon, and we're going to have to try to renegotiate month to month with our landlord if we don't have anything. I was really hoping to avoid it, but that is not a good reason to overpay for a house.

Unless your Realtor is specifically acting as a "buyer agent," he's really working for the seller. I suspect that since this house just went on sale, the buyers will have to sit there a while before they come to terms with the current market.

Also, yay, Sean, you mad writer!

Ugh, smonster and sj. I hope things improve quickly.

Congratulations, Sean! That's wonderful.

Laga, Lucid is a good brand of absinthe to start out with. I would recommend using a sugar cube and water, even if you don't have a fancy absinthe spoon. Take a wine glass, put a sugar cube in the bottom, pour a shot of absinthe over it. Then slowly pour/drip a shot of chilled water into the glass. The absinthe should turn a milky jade color. Stir the mixture to help dissolve the sugar.

Ginger, we have a buyers agent.

I still haven't ever had absinthe, and I LIKE liquorice!

This distresses me; I should fly out to Seattle this weekend so I can get schooled, no?

Ginger, we have a buyers agent.

Smart people. I should have known.

I have never had absinthe either, but the prices are rather daunting.

Continued ~ma, sj. I know not from buying houses.

Scola, I'm so sorry. I hope it turns out to be a good thing.

Congrats, Sean!!! Very proud of you.

This distresses me; I should fly out to Seattle this weekend so I can get schooled, no?

Not this weekend, I will be in PDX. (I know, I know, we're talking fantasy world. But still. Scheduling is scheduling.)

Some good news: Mom's out of surgery. It went fine, and her lymph nodes are clear.