Home listed at 300K, my offer 286K, seller turned it down and didn't counter.

Asked by Holly, 29615 Sun Jul 29, 2012

House needs updating, highest listing in community, on market 5 months with no other interest.

I'm thinking he doesn't really want to sell...any comments?

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9
My NC Homes…, Agent, Chapel Hill, NC
Mon Jul 30, 2012
BEST ANSWER
I'm thinking your right. Seller is a fool and perhaps their agent is as well, for not insisting they counter a perfectly reasonable offer. Not responding shows a complete lack of understanding about how real estate transactions work. It's a negotiation and that means 1>- the primary objective is to have a discussion. 2. - Neither side gets what they want; the Seller wants their price, you want to pay less, and the goal is for you to get to point where both of you can honestly say, "I didn't get everything I wanted, but neither did they. It's fair and I can live with it." However when one side essentially slams the door in your face by refusing to counter, your not negotiating.

Move on.
1 vote
, ,
Mon Jul 30, 2012
If the house was worth 350 it sounds like you missed out, might try offering 300, good luck,

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
0 votes
Wilton Bowman, Agent, Anderson, SC
Mon Jul 30, 2012
Hi Holly,

These situations can be the norm in today's precarious market. There are many issues affecting today's home sellers: Owing more than the home is worth, ASKING for more than the home is worth, etc.

The fact that the seller didn't counter in THIS market is a bit disturbing to me. Either YOUR agent is not working in YOUR best interest to find out why, or HIS agent is not working in HIS best interest to get the property sold! Please do not consider this a solicitation for you to...hire me as your buyer's agent, especially if you are already in a buyers agreement.

Please be sure if you are not represented by an agent that you choose one soon! My teams costs are always covered by the seller as are a majority of other agents so don't even touch your checkbook! Just choose to be represented PROPERLY and this won't happen again!

-Wilton

Bowman & Sons Group, Keller Williams
0 votes
Holly, Home Buyer, 29615
Mon Jul 30, 2012
Thanks Annette,
I didn't ask for anything in the offer, not even the fridge and I've been preapproved already, so I'm a solid buyer.
0 votes
Holly, Home Buyer, 29615
Mon Jul 30, 2012
Thanks for the comments..I think. As a newbie at buying I thought I would see if seller not countering is a common occurance in todays market.

What should a CMA contain? Is it a hard copy report? I was shown a few other listings as comps but they weren't in this community and only one of those had sold.
0 votes
Annette Law…, Agent, Palm Harbor, FL
Mon Jul 30, 2012
Price in only one element of a purchase offer. We don't know what else was packed into the offer, whether you had solid funding, and yes, representation does have benefit.

There are many, many reasons to kick an offer to the curb. Price is but one.

I'm thinking the seller does not want to sell at $286 with your terms and conditions and perceived ability to negotiate in good faith.

Best of success in your home purchase
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL
727.420.4041
Let's chat real estate on: http://www.RealEstateMadeEZlus
0 votes
Cassie Simps…, Agent, Greenville, SC
Mon Jul 30, 2012
An experienced real estate professional should be able to speak with the other agent and determine why the offer was not accepted. If you do not have someone representing your best interest I would be happy to help. Were there contingencies in your offer? Are you pre-approved? Is there a bank involved? Is it a short sale? Was there a recent price drop? All these questions can be answered by a local professional. Feel free to contact me and I will be happy to assist.
0 votes
Debra (Debbi…, Agent, Livingston, NJ
Sun Jul 29, 2012
well, maybe he doesn't want to sell it....or....maybe he can't sell it at a lower price, as he owes too much......who knows........

can't see how anyone's opinion here can matter

you want it - offer more...if it's not worth more to you.........walk away

should you buy it, the appraisal will validate the offer one way or the other
0 votes
Ron Thomas, Agent, Fresno, CA
Sun Jul 29, 2012
House needs updating,
highest listing,
5 months....

all of it is BS:

You didn't say that you had a Realtor do a CMA to determine it's MARKET VALUE!

The SELLER says it's worth $300
You say it's worth $286!

You're probably both wrong!!!

It comes down to this; are willing to lose the house for $14,000?
If the answer is YES; then drop it, don't say another word, don't carry that grudge around with you, let it go, and go find another house!!
0 votes
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