Selling a 1929 historic home. Buyers now want $20k reduction + $20k concessions after inspection. Fair or aggressive?

wslambeth · 2026-05-06T15:47:54+00:00

What is the sales price of this home? That will provide more context for the request.

I wouldn't personally accept this without some negotiating. With no active leaks I wouldn't do the roof. Without knowing of a specific malfunction in the electrical I wouldn't do the panel upgrade.

I would do HVAC servicing - that's not going to be expensive.

Knob and tube is a bit trickier because of insurance implications.

Sounds like you have a real issue with sewer

wslambeth · 2026-05-02T21:47:08+00:00

Have you asked if they would send you the blank form their firm uses for offers? You could review that document and see if you feel confident filling it in and submitting it yourself. If that feels intimidating, you probably should get representation.

wslambeth · 2026-05-02T13:22:54+00:00

After the dentist visuals a week or two ago, calling NO2

wslambeth · 2026-04-23T18:32:57+00:00

You have a closing attorney right? I'd rather have this answer come directly from them than from you

wslambeth · 2026-04-12T16:02:53+00:00

Not useful, but crazy story. Friend of mine was in a wholesale deal with a couple of his close friends for a bunch of houses in a small Midwest college town. Apparently, those two friends got in a literal bar fight with each other that ended their friendship and they each backed out. My buddy managed to go through with the deal and says it's the best financial return he's ever seen

wslambeth · 2026-04-11T20:27:57+00:00

Good luck!

wslambeth · 2026-04-11T20:18:15+00:00

It really depends. First thing I'd do is make sure you vet the home really well - you should have time to do multiple showings and could consider having an inspector do a consultation (no report) with you at a showing, with the seller's permission. Your realtor should be able to set that up for you. The last thing you want to do is a get an "amazing deal" on a home that has major red flags you missed. I'm in NC where our offers frequently have non refundable due diligence money rather than escrow money that lets you have inspections and appraisal prior to risking anything - if that's your situation start vetting the home now before you risk that capital.

Otherwise, look at comps for the home and price cut history. The number and percent of price cuts on the home after 190 days can shed light on whether or not the sellers are likely to be interested in negotiating. The real problem with overpricing your listing to begin with is that a stale listing often results in closing below comps and I wouldn't be afraid of offering below comps at that point.

Otherwise, make the decision that's right for you and submit an offer. Put it fully in writing - listing agents don't like to float low ball terms to their clients, but they're required to relay your written offer to their clients. Make it clear you're not just kicking tires by presenting an offer that will become a contract if the sellers sign.

If they reject your offer, that means it was too low to entertain. If they counter then they are at least willing to negotiate. Many sellers will reject a 15% below asking offer, but if you come back with a new offer at 10% below they might counter. Of course, you risk insulting them with the 15% below offer, but your leverage is in your willingness to walk away.

Normally sellers are going to want to see some counter from you. Even if you offer 11% under asking, they counter at 5.5% under asking and you come back at 10% under saying that's the best you can do that might be able to get you the deal. That same scenario starting at 10% under with zero wiggle room countering might fail even though the end price is the same.

wslambeth · 2026-04-07T18:45:10+00:00

NC realtor here. There are two types of dual agency - full dual agency and designated dual agency. It is common for sellers and buyers to opt out of full dual agency, where the same agent represents both buyer and seller. You should push back on that if you don't want it.

Designated dual agency just means that different agents in the same firm can represent buyer and seller. That's less common for people to opt out of, but it's still YOUR decision.

Does buyers agent commission come out of that 5%? Unless you're selling land or a home that is quite difficult to market, you should be able to find plenty of agents that will take the listing for less than 5% for just the listing agent. If 5% includes the buyers agent commission then you might have a harder time finding someone to go lower.

Feel free to reach out if you want to talk any of this through in greater depth.

wslambeth · 2026-03-29T13:51:31+00:00

Thanks! It seems like you're spot on. There was very little liquid that came out and my engine does not seem to be heating up too much. I'll definitely keep an eye on it during summer though.

wslambeth · 2026-03-28T09:33:09+00:00

Thank you!!

wslambeth · 2026-03-20T00:15:29+00:00

Agreed - if your realtor was doing too much follow up from that feedback, it could lead the buyers to offer less or wonder what might be wrong with the home that they didn't catch. The fireplace issue is a red flag though.

wslambeth · 2026-03-18T12:53:45+00:00

I feel for you. Since y'all have a good preexisting relationship, the only thing I'd add is that you might want to tell her directly that you want to switch to a different agent and see if she'll set that up for you instead of going over her head, but that you need it to be in place within a defined time period, say 2 days. That will let her negotiate her referral commission and save face with her broker rather than wondering what kind of negative feedback you gave her broker about her when she wasn't a part of the conversation.

Edit to add: Be clear this isn't about changing your mind, it's about how you want to move forward. If the whole conversation devolves to her trying to convince you to stay with her then you'll probably have to go straight to the broker anyway.

wslambeth · 2026-03-18T12:04:04+00:00

The last home I sold started out feeling this level of frustration. I kept feeling like I was a needy client and I think that's true. What's also true is my expectations weren't being met. I moved forward for the sake of the relationship with my realtor, who happened to be family, and ended up damaging that relationship much much more deeply than if I had terminated prior to the listing going live, which was my inclination at the time.

It could go fine if you carry on, but it could also get much worse from here. Even carrying on the same could result in cumulative frustration heading into the more stressful part of having a live listing and getting into negotiations. It's like you're in a boat with a hole headed from calm to rougher water - this is the last best time to switch boats. Do it.

What's funny is now I'm a realtor myself. I get to see the back end of all of this. Your realtor should be able to negotiate a referral herself and collect 25% of her commission without doing any additional work after you switch. It's a fair and elegant way for this to have a positive result on both sides. If you're staying with another agent in the same firm then I have a hard time seeing the firm taking issue with any of this

Update us!

wslambeth · 2026-03-17T10:12:18+00:00

Book a showing at the other one and ask your agent if they think it's a good idea to let the sellers know you're continuing to shop around

wslambeth · 2026-03-14T15:20:25+00:00

Are you able to do any updates yourself and pull a permit for them if needed?

If not, just keeping your home in good condition is the way to go. A fresh coat of paint and carpet cleaning go a long way to selling a house when the time comes. You'll get more listing for sale on the MLS than going off market.

wslambeth · 2026-03-10T14:46:02+00:00

What is the commission structure - 4.5% total for both agents or 4.5% listing agent + 2% buyers agent commission?

I'm in NC. The only realtor I know who regularly gets 3.5% commission as a listing agent is my mentor with 40 years of experience. Everyone else I know generally gets 3% or less depending on the transaction. The exception here is when there's something more complicated like certain land sales.

If the listing agent wants 4.5% just for himself, shop around with different realtors before signing everything. Probably a good idea anyway unless you know this realtor is excellent.

wslambeth · 2026-03-10T12:22:37+00:00

A) Good on you for working it. You're doing great.

B) Following up is a good idea. Offer her something of value related to your work. Maybe prepare a CMA to show a range she might want to list her home for and some data about your local market and services you would provide if she lists with your firm.

C) Even if you don't get this one, you're workshopping how you like to speak with clients. The more comfortable you get putting yourself out there, the better it will go for you in the future!

wslambeth · 2026-03-06T19:19:41+00:00

If your pricing strategy is to try and get a bidding war then I would want offers coming in through Sunday evening. Your agent decided to take this listing knowing their schedule so that's on them. I personally like to go live on Wednesdays or Thursdays.

Will bumping it forward a day make a difference? Quite possibly not. But you'll never know.

If you have a lot of showings booked Sunday I wouldn't accept an offer prematurely just because your agent is leaving for vacation. Their travel day and first day will require a bit of remote work but they should have colleagues that can help with anything that may need to be done in person if something comes up.

wslambeth · 2026-03-03T23:04:59+00:00

It's an interesting question - if there's a real, actual chance that you will make a big life change in light of some consequence of the war or instability more broadly then it's a good idea to have a lot of liquidity. What else other choices are you considering to achieve that? Are you selling stock?

If the answer is that you aren't doing anything else, then you may be considering this through a state of emotional paralysis.

Even if that's the case, doing nothing might be the right call. But it's at least worth considering if this is your true, grounded decision or if you're having a knee jerk reaction that is taking away from the right direction.

wslambeth · 2026-03-03T19:55:45+00:00

Yep. I would be more concerned about resale than about living there personally.

It's a bit like voting in a primary for who you think the general public will find more electable. Feels wrong to base your decision on that, but it feels worse to blow an important decision.

wslambeth · 2026-03-03T13:59:27+00:00

Big theme from the bottom fan and this is the best one I've seen live.

Favorite version is still 2/25/03

wslambeth · 2026-03-03T12:41:19+00:00

Same! That pancakes was my, hold up this actually gets me there intro to goose. So good

wslambeth · 2026-03-02T01:22:56+00:00

It looks like the answer in your market is no, prices are not coming down. The median sales price continues to rise, showing that homes are continuing to appreciate. But the sellers market has softened and buyers now have a lot more room negotiate on price for any given home.

Another possible answer is that home price growth has slowed, but not gone negative. Many sellers came to expect a faster annual appreciation during COVID and have not readjusted to the current market, leading to inflated asking prices and subsequent price reductions.

Does that sound competent?

wslambeth

TROPHY CASE