« Real Estate Offer - Redondo Beach Update | Main

July 20, 2005

Another Offer Turned Down

Stike Two. Well, we were turned down again. We had put an offer on another home in Redondo Beach late last week and found out yesterday that the owners had accepted another offer.

Apparently the home in Redondo Beach went for $30,000 more than the asking price. To make matters even worse, the people who put the offer on the home waived the appraisal clause. What this means is that if the bank lending the people the money for the home appraise the home at a lower amount, the buyers are willing to make up the difference in the form or more upfront money.

Now don't get me wrong, I really want to buy a home in Redondo Beach, I mean we really like the South Bay. I refuse, however, to pay more than a house is worth. Southern California housing prices are already beyond belief. Can anybody really tell me that a 2,400 square foot townhouse in Redondo Beach is worth $850,000? I highly doubt it.

Well, just wanted to vent some frustration. We will continue to look and I guess if we put in enough offers, one will eventually be accepted.

Posted by Dogger at July 20, 2005 02:54 PM

Comments

Post a comment




Remember Me?