Concessions after negotiations?

[yousah]

How about if the seller raises the price after they have an agreed upon contract so long as the negotiation period continues after that point according to you?

[399083453]

The seller can raise the price if it's written into the contract. I've never seen a contract like that. I would expect if it was, the buyer would use a contingency to exit the contract.

[yousah]

I've never seen a contract that says the buyer can lower the price after acceptance. That's my point.

[SmartMoney]

I'm curious what the underwriter has said about marginally (if at all) functioning HVAC system. If the buyer is going for a residential mortgage, the home must be habitable for year round use, in all seasons. (ie, HVAC must be functioning). How the contract was negotiated means nothing to the lender. If the buyer wants a loan secured by the home, then it's the lender's rules. In a true "as is" that is in sub-standard condition, the seller should only seek cash or buyers with financing that doesn't use the home as security.

[399083453]

Originally Posted by yousah

I've never seen a contract that says the buyer can lower the price after acceptance. That's my point.

There isnt, per se. You know as well as I do most contracts have contingencies. So either the buyer walks or the seller reduces his price. So if a seller wont budge, the contract stays firm, seller walks and no one buys anything.

[thelopez2]

Originally Posted by 3muskateers

We as she was aware of the heating and other issues when negotiating after the inspection? Not sure if any other agents have experienced such an issue?

I am not a RE Broker, but do get to see the contracts and addendum
The buyer is trying to bait and switch their offer, can't blame the buyers agent. Even if the agent is advising the buyer to do it, it is up to the buyer to create the request. They knew about the issue when they put the house under contract now they want concessions. It is up to you to manage what is best for your client.

I don't know if you'd call it an issue but negotiations are nothing new.

I see three options
1) Accept concessions and make the buyer and her agent happy. I'm guessing the seller would be upset since they felt this was known before the fact.

2) Refuse the offer and see if they want to move forward with the original existing price.

3) I've seen seller ask for more money , but that typically has to do with extending time, like buyer wants to find a new lender.

Does the seller want to move forward with the new price or are they mad and would rather go with another buyer.