A rock-bottom price just isn’t enough for buyers these days – it’s a starting point. If the furnace is out of date, they’ll demand a new one. Cracked driveways have to be repaved, and dirty carpeting torn out and replaced. All at the seller’s expense.

Buyers are in the driver’s seat and they know it. They’re using that leverage to pry more concessions out of desperate sellers than they ever dreamed of during the bubble.

“‘Now it’s my turn,’ is the attitude,” said Mike Byrd, a real estate agent with SLO Home Store in San Luis Obispo, Calif. “Some buyers are really putting the screws on.”

Read the full Homebuyers turn screws on desperate sellers story

Posted by Carlos Sagastume on September 22, 2010. Filed under HUD Homes. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry