With nine days until closing, our buyers came back to us demanding $6000 to offset some structural damage found in the inspection. To me, this felt like a shakedown. To me, if felt like they were thinking they held all the cards. After all, we close on our new house in nine days, our house has now been off the market for six weeks, and we can't afford to lose this sale, right?
Wrong. We told the buyers to go f**k themselves. Well, my husband did anyway via our lawyer. If you are gonna play Texas Hold Em against my husband, you better be holding pocket Kings before you begin counting your winnings. My husband isn't likely to let you take the pot, based on a bluff. He's likely to "call it." In our house, we like to make you EARN your win.
They thought WE were bluffing when we gave our counter office, a thousand dollars, plus the thousand we were going to hold in escrow for the final walk through, take it or leave it, but let us know in 24 hours so we can re-list the house. My husband and I had already decided months ago, that we would get a swing loan and swing both mortgages for as long as we could rather than let someone come in and browbeat us into giving our house away to them. We felt confident, and in a place of financial stability. So we knew we didn't have to concede away to demanding buyers.
The Buyers, assuming they were still holding the better cards, came
back with a counter office of 3 thousand now, and 2 thousand at
closing. That's when my husband told them the DEAL WAS OFF. A couple
hours later, they came back, admitting that they thought we were
bluffing and they conceded to our counter-offer.
Let this teach you all a lesson. Try not to get in over your head when buying or selling a house because it puts you in a spot of desperation. Know before hand how much you have to lose or gain by each negotiation. And in the end, know how much you are willing to lose based on principle. In the end, this is a business transation like any other, except there is a whole lot of bluffing going on by both parties.