Home Buying in Claremont>Question Details

Peacepeace, Home Buyer in Claremont, CA

How do I know that the seller's agent submitted my highest offer to the buyer?

Asked by Peacepeace, Claremont, CA Fri Aug 21, 2009

I saw a house on the internet, that has just come on the market. I have been checking the listings four times a day, so when the house was up at 10 p.m. Monday evening, I emailed our agent. Next morning she contacted the buyer's agent for an appointment. We had to give 24 hrs. notice, so we could not see it until the next morning. As soon as we saw it, we submitted an offer $2,000 higher than the asking price. Our agent found out that the only other offer was the asking price, so we raised it by $2,000 to get a definite counter offer. Seller's agent left a message saying that the owner accepted the first offer, because it was the first offer, and $2,000 was not much. We raised our offer $10,000 more. We were told the seller does not want. It is hard to believe. Our offer was sent in 6 hrs. after the first., we have excellent credit, more than 25% down, short escrow, retirement accounts, own a house free and clear, a pre-approval letter with copies of financial accounts. Stinks!

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Jesse Sierra’s answer
Peace,

Is the agent double ending the deal?
Did they send you a rejected offer? (if not)
Request the seller to reject your offer at the bottom of the Purchase Agreement.


You should of had your agent set up a meeting to negotiate face to face with the sellers.
I know that this is rare, but I always request that we submit the offer to the seller in person that way they can put a face on the offer (But, they always beat us with a higher offer) it would of been good if they accepted my client's offer as in this situation. LOL

I know it bites, but hopefully my input helps,

Jes Sierra, B.Sc.
Realtor®
0 votes Thank Flag Link Sat Aug 22, 2009
Hi Peacepeace,

Hi Peacepeace,

Sorry to hear about your dilemma - I'm sure it is frustrating. Unfortunately, it is ultimately up to the seller to decide which offer to take, and there is no requirement that they take the first offer nor the highest dollar offer. Sometimes sellers will look at other factors when deciding whether to accept an offer, such as one buyer putting down a larger down payment than another, or one buyer having better credit scores than another. Based on what you posted, you sound like you were very strong in both these areas. Sorry to hear you didn't even get a counteroffer - unfortunately the seller's are not required to counter an offer, either. The listing agent IS REQUIRED, on the other hand, to present all offers to the seller, so I would hope that your highest offer was presented. Possibly the other offer was an all cash offer? Again, sorry about your situation... Good luck with your next offer & hang in there!


John Barry
Coldwell Banker Residential Brokerage
Sherman Oaks, CA
Cell: 323-810-7976
Email: john.barry@coldwellbanker.com
facebook: http://www.facebook.com/RealtorJB
Twitter: http://twitter.com/RealtorJB
0 votes Thank Flag Link Sat Aug 22, 2009
I've seen this happen before. A seller has time to digest an offer and get their mind set to accept it. Another offer comes in that isn't that much better. They decline it since they mentally had already accepted the other offer.

I would guess that by the time you raised it $10,000 it was too late. The buyer and seller had probably already come to terms.

Regards,

Joe
0 votes Thank Flag Link Sat Aug 22, 2009
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