realtor (seller) rejected competitive offer w/ no counter (Houston: days on market, sales)

[h-town homebuyer]

I have been looking in Houston (the inner loop) for a while. I found a house that I decided to put an offer on. It was a new construction home, and the builder was willing to give me the 3% (buyer's agent commission) + an incentive package in the form of appliances or cash towards the purchase. I submitted an offer along with an approval letter from my lender, and the offer was within 2% of the listing price. I also asked for money towards closing cost.

The seller's agent rejected my offer with no counter and was actually quite rude on the phone. The agent is expecting another offer on the property but has not yet received one. Is this highly unusual? It's not like I presented a low-ball offer, and I had proof of financing (which is pretty good in this market for a $500,000 + home) Any advice or tips....

[EasilyAmused]

Asking for money towards closing costs was the deal breaker I bet. Actually, the higher end markets are far less flexible than the sub-400k market.

Offering within 2% of list price is a pretty standard first offer on the westside...You say "in this market." But if you buying in a good neighorhood in the loop or along the west side, sales aren't really affected, nor values going down.

[City Love]

Very weird. Especially the rude part.

What type of financing where you getting? Where you putting a lot down?

Did you initially speak to the builder or listing agent? The only thing I can think of is that the listing agent wants that buyers 3% commission. If he has another buyer with the same offer, the agent will net more. It's not right, but this is all I can think of.

[h-town homebuyer]

I was approved for a 30 year fixed conventional loan (putting 20% down).

In terms of the 3%, I spoke with both the builder and his agent prior to submitting an offer, and they are the ones who mentioned that I would get the 3% if I was not working with an agent

[City Love]

Originally Posted by h-town homebuyer

I was approved for a 30 year fixed conventional loan (putting 20% down).

In terms of the 3%, I spoke with both the builder and his agent prior to submitting an offer, and they are the ones who mentioned that I would get the 3% if I was not working with an agent

Everyone loves a buyer with 20% down. It's very weird they rejected your offer. Like EA said, some of these 400k+ homes can go quick because the buyers are there. But it all comes down to each individual house.

Do you mind sending me the property address so I can look up the days on market? Was it on HAR? Do you know if the house has been on the market long?

I just find it very odd that they rejected you rudely.

[h-town homebuyer]

City Love, is there a way to send you a private message? I prefer not to post the address in this forum.

[City Love]

Originally Posted by h-town homebuyer

City Love, is there a way to send you a private message? I prefer not to post the address in this forum.

I sent you a message.

[westres1]

It is because you are not using an agent

[Oildog]

I had a seller get miffed as I offered him 95% of asking price inside the loop. He didnt counter. Some people over value their homes especially if they did some remodeling. They contacted me 6 weeks later looking to deal, I had found something elsewhere by then.

[TheStupid]

Did you ask for any counter offer?

I view any reaction from the seller is a form of act and part of negotiation. I always perform my part of the act, being depressed, obnoxious, rude etc. but in reality, I am always ready to deal.