When the seller plays with offers?

Asked by ledaliz.collazo, Weston, FL Sun Mar 23, 2014

If the seller listed the house at a certain price, it is fair that when getting an offer the buyer rejected asking for more?

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9
Dan Tabit, Agent, Issaquah, WA
Sun Mar 23, 2014
Ledailz,
Consider this a bit of a game. Your seller is playing and you were not. Now that you know the rules, your next decision is if you want to play and how. As others have said, in many areas we are in a seller's market, but some sellers are overplaying their hands. If a home is worth $350,000 you can't ask $650,000 and expect to be successful. Some may list the house at $325,000 and find that they receive multiple offers and created a bidding war. Many homes in many markets are selling for over list price. When you see something that appears to be a very good deal, prepare to have to compete to get it. When you're done, if you are successful you'll end up paying what the market demands.
It's all about strategy. Discuss this with your agent and create your own strategy.
You may walk away for a while and see if the house remains available. You can raise your price, limit the scope of your inspection or pre-inspect the home, increase your down payment or earnest money, close sooner or later, based on what the seller wants more.
Everyone is motivated by various things, see what you can do to motivate the seller to accept your offer.
Best of luck.
1 vote
Dorene Slavi…, Agent, Torrance, CA
Sun Mar 23, 2014
It's frustrating, believe me I feel your pain.
The seller can do this, and it's common in areas in a Strong Sellers Market. Have your Realtor do an evaluation of the property for you, before you make the offer. Sometimes homes are priced low..deliberately...to get a lot of buyers bidding on the house.
Make up your mind the "top amount" you will pay and stick to your guns! If the bidding gets to high, move to the next property.
1 vote
Annette Law…, Agent, Palm Harbor, FL
Sun Mar 23, 2014
Life's not fair to most people.
When it comes to making a real estate purchase there are many things to consider.
Only one of those things is PRICE.
One could offer FULL PRICE and compel the seller to pay 3% of closing costs. Not exactly full price you see.

One could offer FULL PRICE and make it contingent on the successful sale of their 1/1/1 single family home. That house may not sell for years! Not a good deal for the seller.

One could offer over listed price with an inspection contingency with the intent of knocking the price down $25,000 because the carpet is soiled and worn.

A seller can evaluate a purchase offer and counter based on what they see their risk to be.
Many seller under price a home to create a atmosphere of competition, which means the PRICE GOES UP?

Time to turn to your REALTOR and evaluate your options or how to make your purchase offers more competitive.
1 vote
Thank you for your advise, it really works to me.
Flag Sun Mar 23, 2014
Randy and Vi…, Agent, Punta Gorda, FL
Mon Sep 22, 2014
Fairness has nothing to do with sellers asking one price and then raising their price. It is one of several ways sellers have of attracting offers on their properties. At times the seller is looking to get as much attention and as many offers as possible and may select the highest and best offer and other times they may just be testing the market then increase the price accordingly.
0 votes
Scott Godzyk, Agent, Manchester, NH
Sun Sep 14, 2014
The price listed is an asking price, some sellers start low to attract more buyers and will often get many offers above that asking price. In addition an offer is not just about price, it is about terms, when you are closing and what contingencies you put in it.
0 votes
Susan J Penn,…, Agent, Weston, FL
Sat Sep 13, 2014
When the housing inventory is small some sellers will let their homes receive multiple offers.
0 votes
Sarita Bergs…, Agent, Weston, FL
Mon Mar 24, 2014
Hi ledaliz.collazo:
Unfortunately is not fair but it happens. The seller has the right to ask what he wants.
In an offer there are many things to consider and one of them is how much are you willing to pay.
If that is the case and you are financing the deal you have to know if the property appraises or not and do all the due diligece that would correspond to do.
If you do have an Agent, tell him to help with that if not, It will my pleasure to help you any time,

Sarita Bergstein
RealtorĀ® / G.R.I./ At Home With Diversity
Cell:(754)234 4066 Of.: (954) 727 9347
Fax: (954) 727 9348 Email: saritabb@gmail.com
Realty Associates
Member of: "Who's Who in Luxury Real Estate"
It's a Great time to buy in Florida!!!
4410 Weston Road, Weston, Florida 33331
Website: sarita.sef.mlxchange.com
Skype: saritabittan
0 votes
Leslie Kliger, Agent, Plantation, FL
Sun Mar 23, 2014
a seller can always ask for whatever he wants. and is under no obligation to seek if doesn't like all the terms.. price, loan, closing date etc.. in a market like this, be ready to make your " highest and best" offer in the beginning.. It willl increase your chances of the seller saying Yes!
0 votes
Leslie Kliger, Agent, Plantation, FL
Sun Mar 23, 2014
a seller can always ask for whatever he wants. and is under no obligation to seek if doesn't like all the terms.. price, loan, closing date etc.. in a market like this, be ready to make your " highest and best" offer in the beginning.. It willl increase your chances of the seller saying Yes!
0 votes
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