Lumet, Home Buyer in 33154

We made an offer on a house, a low but reasonable, given that the roof has to be replaced and everything was in original condition (circa 1950), in

Asked by Lumet, 33154 Fri Jul 2, 2010

deep need of renovation. Anyway, we never heard from the seller and his listing agent, ever. We never knew why they never bother to give us any feedback even to decline the offer or to counteroffer.. Unbelievable, the courtesy these days...

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13
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Sat Jul 3, 2010
Hi Lumet,

I share your frustration with the lsiting agent. If you don't hear from the seller, then as Tony points out that's the seller's right. But there is no excuse for the actions of the listing agent. There is a newer brokerage model in operation that is best described as NO SUPERVISION of Sales Associates what so ever. Just get them to pay a nominal monthly fee and a low transaction charge and make it up in volume. When I called the brokerage to complain about exactly what you describe the answer I got was, "900 agents have signed up with us". They really could have cared less. Weren't even interested in the agent's name. A listing agent who can not bother to even acknowledge receipt of an offer is a completely unprofessional, but this brokerage does not care in the slightest.

Good luck.
2 votes
Irina Karan, Agent, Aventura, FL
Fri Jan 4, 2013
There are some unknown factors in this situation...

Often, the offer does not get to the listing agent (you got to make sure the listing agent received your offer). That's why your agent needed to get a written confirmation from the listing agent re. that.
We have seen it happen many times...- either the email goes into spam, or the phone archives the message...So, it makes sense to find out for certain.

If the property was a foreclosure (REO) sale - they could have had so many offers that it would be impossible to respond to all, at least not right away. We are not talking dozens, one property my clients bid for had 73 offers in 3 days, and by the end it probably got even more offers.

If neither is the case though, it is your agent's job to get a hold of the listing agent/his broker (if need to) - but your agent has got to get you the answer.

However, if the offer was too low, and the sellers got insulted by it, they might have choosen not to respond to the offer, and just let it expire. Still, your agent should be able to help you find out all there is to it.

Best of luck in your search,

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
1 vote
Gary Geer, Agent, Antioch, IL
Mon Apr 9, 2012
Lumet,
If your offer was very low you may have offended the seller and they may have just refused to provide a reply. Sometimes this happens. Did you make your offer through the listing agent? If you did, you may want try to contact that agent or his/her managing broker to find out why you did not get a reply. If you made your offer through another agent contact them and ask them to follow up to find out. You can always submit a new offer if the property is still on the market. If that does not work out, go on to another property.

All the best,

Gary Geer

http://www.ggeer.illinoisproperty.com
1 vote
Antonio Vega…, Agent, Saint Cloud, FL
Fri Jul 2, 2010
Lumet:

"Low but reasonable" according to whom...you...the buyer. If as a buyer you are admitting to that, then on the eyes of the seller the offer probably was "ridiculous, insulting and a waste of their time". Remember the seller always thinks of every penny they had spent in home improvements over the life of their ownership, even if those things already need updating again. Furthermore, they could had instructed their agent not to present any offers below certain price.

My suggestion is, if your tactic for getting a great deal is to low ball sellers, then don't be emotional about your offer, don't take their responses personally...remember you already gave them the first blow. If they don't respond simply assume you went to low for them to consider it and send a second offer slightly higher....after all what you want is for them to start to negotiate with you.

Tony Vega
Charles Rutenberg Realty

http://www.SearchKissimmeeHomes.com
1 vote
Naomi Preston, Agent, Miami, FL
Mon Apr 9, 2012
Hi there,

It sounds like the offer wasn't strong enough to the sellers to merit a response. A different approach to your offer submission may have been more adventageous. You could have made your "deductions" on the sale price after inspections if it was a house you were sincerly interested in buying. And if the sellers didn't agree, you could then choose to cancel.

All the Best!

Naomi Preston
Web Reference:  http://www.NaomiPreston.com
0 votes
Mike Satterl…, Agent, Kirkland, WA
Sat Jul 3, 2010
Quite frankly they probably feel the same way about you and your offer.

Your offer may make perfect sense to you but the key to being successful in your search is finding a seller who's thinking will be in line with yours. For example someone who has just listed their home isn't going to be interested in what they would consider a lowball offer. You may be correct in your thinking & that home may eventually sell for what you offered or even less but until that seller has experienced time on the market, they won't give you the time of day. So.....look for seller's who have been on the market for a while or have lowered their price or better yet - both. Just remember the seller's perspective is very different from yours and involves a lot of emotion - time and energy that they have put into the house, memories, etc.. It takes a while for a seller to let that go, i.e. lose the emotional attachment and wake up to the market reality. You want the seller who get's it.
Web Reference:  http://www.ezdigs.com
0 votes
Catherine Kim…, Agent, Hallandale, FL
Sat Jul 3, 2010
it depends on individual circumstances...whether the property was in short sale or specifically where in the foreclosure process. did you have a realtor, who did a comparative analysis of that particular market, on which you based your offer? Sometimes, sellers and agents react emotionally and get insulted at very low offers and don't want to waste the time it takes to respond...In these days of intense competition fr cash buyers/investors, realtors get gazillions of phone calls/requests to show. However, if you called the listing agent, he/she should have let you know what was going on. If not, the agent was not professional or the property was in foreclosure process and he/she was inundated w calls. Or, in this particular market, the agent could have been out of the country!

That's why it's advantageous for you to work w a realtor because usually, realtor-to-realtor, agents are more willing to discuss the real situation (inside scoop), in order to gage where you need to be price-wise to get the property. Also, when I write up an offer, I usually justify price w real numbers, comps, calculated deductions w repairs, etc. Also, I usually go in w proof of funds/financeability in writing so that we can negotiate fr a position of strength.

In today's market, there is too much inventory to filter thru, and lots of buyers who only want steals. If I can be of further service, let me know. I know this area very well because I represented a developer fr several years in that market, and sold many re-sales afterwards, and was active w the community.
0 votes
Alma Kee, Agent, Tampa, FL
Sat Jul 3, 2010
Is this a short sale, preforeclosure? With a short sale there could be a lot of other things going on.

Also if you're making an offer with an FHA mortgage then you will need to get a 203K Simplified to allow up to $35k in renovations so the new roof can go on after closing. FHA mortgage require the house to be in good functional condition.

As Antonio suggest, re-submit a new offer that is a little higher. Your current offer has probably already expired. Also to keep the listing agent honest (if you think the listing agent is hiding your offer) then your agent may want to also email a copy of your offer and include the Broker in the CC field. Did the listing agent confirm receipt of your offer to your Realtor?

Good luck and it's true that owners get very emotional with lowball offers and they may not sell the house to you--even at full price!
0 votes
Lumet, Home Buyer, 33154
Fri Jul 2, 2010
Thank you everyone for replying so fast. We are working with a Realtor and the offer we made was 18% below their asking price, based on the last comps in the last 6 months, the necessary renovations (green and pink bathrooms, very old A/C unit), very old appliances and the roof replacement not just repair. If the seller is offended about an offer and does not even want to counteroffer, why can't his agent let our agent know. Our Realtor called several times, left messages and inquired via e-mail but never got any answer. I did not know that a listing agent can also get emotional about the house he/she sells...We had made another offer on another house in the same neighborhood in the past and the listing agent quickly and politely indicated that his client was only interested in offers above a certain amount and suggested us to bring a higher offer. That is professional.
0 votes
Mott Marvin…, Agent, Sunny Isles Beach, FL
Fri Jul 2, 2010
There are many possible reasons that the seller has not responded. Bal Harbour/Surfside are still strong and viable communities where buyers see potential for appreciation.

The courtesy of a rejection or counter-offer is the norm.

Aventura ¤ Bal Harbour ¤ Surfside
Miami Real Estate | 786.229.7999
0 votes
Michael Klahr, , Surfside, FL
Fri Jul 2, 2010
Keep after the listing agent and/or the property owner until the property is no longer on the market. The real estate agent is required to present any written offer to the seller. If the property is a good deal for you, be persistent.
0 votes
Ruth and Per…, Agent, Los Gatos, CA
Fri Jul 2, 2010
Hi Lument:

Right, regret to hear about the problem.

They must have been offended by your offer or have you Real Estate agent follow up, again.

Best Regards
Perry
0 votes
Kevin Clouti…, Agent, Cape Coral, FL
Fri Jul 2, 2010
Lumet,

Thats why you should have a buyer agent, his job would be to stay on the seller for a reply.

Next Time, use a Realtor

Good Luck

Kevin
Web Reference:  http://www.kevincloutier.com
0 votes
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