Home Buying in El Paso>Question Details

timanahaf, Home Buyer in El Paso, TX

We got a "Seller's Invitation To Buyer To Submit New Offer" on an offer we made, and they want us to offer less than what we originally offered! Why?

Asked by timanahaf, El Paso, TX Wed Sep 12, 2012

We put in an offer for a house. The Seller's Agent (who was urging us to hire her as our Buyer's Agent too and was upset when we hired someone else) said that the Seller accepted a cash offer, but told us to put in our offer as a Backup Offer, which we did. Now they want us to submit an amended offer for a slightly lesser Sales Price. Why would they do that?

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Aaron Sims’ answer
So glad that your offer got accepted! Just remember, it isn't your home till you have the keys at closing, so don't let up! Listen to your Agent, your lender will run your credit again just prior to closing so keep paying bills and don’t' apply for credit ANYWHERE till you have your car in the driveway of your new home. Best of luck with your home inspection and in the rest of your home buying process.
1 vote Thank Flag Link Mon Sep 17, 2012
No way to know for sure...it's all just speculation. One reason may be because she has another offer in hand that where she can get both sides of the transaction, but that offer is slightly lower than your offer. If you lower your offer, the listing agent can the make the dual sided transaction her backup offer and bump you completely out the deal.

This is very suspicious behavior. In the past when I'm purchasing a property for my personal portfolio and something is looking this strange, I've just contacted the seller directly to get it ironed out. I've often found the seller was completely in the dark about their agent's behavior.
1 vote Thank Flag Link Wed Sep 12, 2012
What a great outcome for you! You are right, odd and questionable situation. The advice you acted on was sound and I am so glad it all worked out for you.

Jeanne Feenick
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1 vote Thank Flag Link Mon Sep 17, 2012
Congratulations on the acceptance of your offer! It sounds like your buyers agent did a good job for you! I'm asked by nearly every client to speculate about what the other parties to the transaction might be thinking. If I know anything, it's that I don't know how to read minds! We are usually just as puzzled as you are when something odd like this pops up, but the value we bring to the table is our ability to the brokers together when necessary to try and resolve it. Good job getting your own agent!
1 vote Thank Flag Link Mon Sep 17, 2012
You do need to consult your Buyers agent. They work for you and should stand up for you. This seller’s agent defiantly...it seems odd. If this were a case study that I was reading in an Ethics class I'm sure there would be several opinions on how to handle it. You must speak to your agent about your concerns and if you have to get your broker and the selling agent's broker involved.
1 vote Thank Flag Link Sat Sep 15, 2012
Hi all, just wanted to drop in and let you guys know that we finalised the purchase of the house. Picking up the keys tomorrow :) Thank you all once again for your input!
0 votes Thank Flag Link Thu Oct 18, 2012
You need to get a buyer's agent and off course the listing agent wants to double dip. Not sure of the representation in your area, but why would you want the listing agent, who is under contract with the sellers, to know anything about you and your offer? Conflict of interest. GET A BUYERS AGENT!
0 votes Thank Flag Link Sun Sep 16, 2012
Thank you all for your answers. To clarify, it was the SELLER's Agent suggesting us, using a "Seller's Invitation To Buyer To Submit New Offer" form, to reduce our offer. I don't know what she was telling the seller, but it was definitely odd. We spoke with our Buyer's Agent later and he agreed with Mr. Gimenez's opinion below that maybe the Seller's Agent had another offer wjere she would get the full commission - lower than our original offer - and that she may have been trying to get us to reduce our offer so she could push the other deal through.

We ended up getting the two brokers involved as Mr. Sims suggested, and we refused to reduce our offer. Just got word today that the supposed cash offer fell through and that the seller accepted our offer :)

Thank you all for your valuble advise!
0 votes Thank Flag Link Sun Sep 16, 2012
Not part of the transaction no Realtor can render an opinion ...but sounds odd

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
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0 votes Thank Flag Link Sat Sep 15, 2012
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