increase in price

??? silly question - how should anybody onthis board know, given you have not given full info on the listing (location, comparables, etc). I think you should offer $500k, just in case they raise the price again.

Ground floor studios are a rare commodity in this hot real estate market: you should put in a blow-out offer of $700,000 so that the seller is very impressed and accepts your offer right away. Acr fast! This one won't last!

Of course, it depends on how badly you want the unit but I would say to make the offer you originally had in mind & effem. Now they may be talking about a price increase because they found more interest than they'd anticipated OR you were obviously interested in the unit. Anyway, you're the only one who can decide what the unit is worth to you & bid accordingly. It's not the only unit out there. Good luck!

I did make the bid for $398k and then it was accepted but I changed my mind because of the ground floor. Tkhank you #4, #2,3 are a waste of time.

your original question was a waste of time, fool-tard

OP, #4 here. AHA, we outsmarted them! Keep looking, you'll find the right place :-)

#4, #2, #3 THANKS...our plan worked, OP reneged and I got the place for $388.

OP...I'll sell you a ground floor studio w/o a doorman for #550 firm!

OP .... wait .... the price was JUST INCREASED by $39,000 .... so now it's $589,000 FIRM!!

And then people wonder why brokers/sellers continue to show after an accepted offer, etc. I mean OP was clearly aware of the fact that it was a ground floor apartment 3 hours ago when he/she was deciding what to bid. So s/he bids, gets an accepted offer and then inside of 2 hours changes his/her mind. What could have possibly changed in this time period. It is in part people like this who contribute to the general ugly mess of NY real estate.

I understand what you're saying, #10, but the sellers/broker began by trying to gouge another 39k. Karma? Could be.

Because of the tension when making a real estate decision I rushed to make a bid than realized the ground floor was CRAZY..I really needed to breathe

Well...I don't think it is really gouging. Stupid marketing idea, or stupid decision, but at least the Op was informed immediately when calling that the price was going to change.(As opposed to after submitting bids) And if the price increase had induced the Op to offer beyond their comfort level and THEN changed their mind, then yes I would agree with the poetic justice. But since the Op was going to bid 398 initially anyway, they would have flaked out inside of 150 minutes either way. What bothers me about this is not that they had instant "buyer's" remorse and backed out. Hey, it happens. What bothers me a bit is the complete lack of awareness that they did anything wrong at all. And yet basically they gave their word, came to an agreement and "shook hands" if you will. However when a seller changes their mind after having given their word to a buyer the board is filled with vitriole against the seller, sellers in general, and (of course) their brokers. There is just not a real appreciation out there for the frequency with which buyers change their mind, or act in bad faith, or dont feel obligated to keep their word and that this frequency contributes to an unfortunate real estate environment where it is so difficult to conduct a deal with the degree of grace, trust etc that you would like.

OP/#12--#13 here. I had not read your post when I posted just now. And I am not attacking you--it is a stressful situation and sure, people can feel the pressure to pull the trigger and then go HOLY S____!!!! I get it. What I was saying was just generalized drawing from this situation. Just don't want you to feel I am attacking you.

#14...thank you..

Increasing the price is a dog and pony show. Its an insult to our intelligence as buyers. If you got an offer at a higher price, sell it at that price. There are apartments on the market for 2 years and you see them raise and lower the price out of desparation. It just looks idiotic.