Well, good news and bad.
The Good: We received a counter offer last night. Pretty quick, which is nice.
The Bad: The counteroffer isn't so hot. They basically jacked the price of the house up above asking price to compensate our closing costs and fees (that we're asking them to pay b/c we're losing money on our house and have nothing to put down).
So... we're in a bit of a dilemma. I think we'll try to counteroffer again, and see if we can get back down to the asking price and still get our closing costs/down payment fees etc covered.
If not, we are going to have to decide if the house is worth us paying an additional $8,000. I, personally, think in the long run it is. The SEV price on the house is nearly $70,000 more than the asking price on the house, although at this moment the house needs a bit of clean up work and new bathrooms. I guess its just the though of paying MORE than the listing price of the house that has us making faces. However... the more I look at it, its a LOT of house for the money (2800sq ft including the finished part of the basement, and that doesn't include the full apartment above the garage). We aren't likely to find another house this size for this price with new windows, siding, roof, kitchen. The big money items.
And so it goes. I hope these decisions can be made easily over the next week, especially considering I'll be having Hudson on Tuesday. Nothing like throwing house bargaining in on the week of delivery.