Home Buying in 29168>Question Details

Philip Schue…, Home Buyer in El Paso, TX

no question, unhappy customer

Asked by Philip Schuessler, El Paso, TX Wed May 9, 2012

We are very disapointed and p*ssed off at Ms Means. We submitted the asking price offer for a property listed(cash). We waited for her response with the information from the bank. We called several times with no response. The next phone call was from her stating that the bank accepted an offer for $500 more than ours. WTF! We didn't even get a chance to counter offer! It is our opinion that MS Means purchused the property out from under us. How can another party know that $500 was all that was required to best our offer. She knew we were motivated by giving $6000 in escrow. If the bank knew of our offer you would think they would ask us for an updated offer. According to the web site this parcel was only listed for 12 days. How all of a sudden do we get booted out by $500. We will not use this agent ever again! Yes I will post this where ever I can!

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Answers

1
Please stop cursing. And please stop whining.

The asking price is just a figure, sometimes made up. You can offer more or less than that. In your case, someone offered more.

There's no right to make a counter-offer. You made your offer. Another buyer made his offer. The seller accepted the other offer. If the seller had chosen to, he could have asked you to make another one . . . but that's totally at the seller's option.

How'd the other buyer know to offer $500 more. Simple (and it's no deep conspiracy, either). The other buyer saw that the asking price was a good one. He figured someone might offer full asking price (as you did). To top those offers, he offered a bit more. And $500 is enough to make a difference without wildly overspending.

You're also accusing your agent of "purchasing the property out from under us." Did she actually buy the property? You don't say so; you suggest it was someone else. Anyone was free to come along and make an offer.

You made a $6,000 deposit. Fine. It's possible the other buyer made a larger deposit, in addition to making a slightly higher offer.

I don't really see (from your question) that you were unfairly or improperly treated. You simply got outbid on a property.
0 votes Thank Flag Link Wed May 9, 2012
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
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