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Our agent faxed in our offer to the seller early this morning. We offer full asking price with seller pays 3% in closing cost, but my husband just check the online listing when he got to work and the asking price has dropped. Our offer got accepted (of course...we didn't know the asking price was drop like over night). We like the house, but not totally in love with it. Now I'm not excited that they accepted our offer...I feel mad because we had offer way over the price now. Is there any way we could get them to accept the price at their current asking price? Thanks..please help..
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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presumably your offer has some inspection contingencies, you may be able to wiggle out that way. If not just forfeit your earnest money, and make a second offer based on the new price minus what your earnest money was or something in that vein.
Did you send an earnest money check with the offer? In my neck of the woods no earnest = no deal.
From a negotiating standpoint you don't have a strong position, as the sellers know now both that SOME ONE would make a full price offer on their place, and YOUR max offer, but as the market in many areas is still NOT STRONG they would also be really taking a risk not to accept your "new" offer (at presumably the reduced full asking price) ...
Sasa, sorry for your pickle that your in, and it sounds like your first mistake, that you did not use a Buyers agent, as any good one, would never offer the asking price, as in most cases, they leave some wiggle room. An old saying, let the first dummy make the first move, so we start lower, as you never know, what it will take, and silly not to try. Hopefully, you did put in some contingencies, and if not, may be hard to get out of, or stand to loose your earnest money. Good luck.
Thanks for your quick responses.
No, we didn't send any $ in yet. As we are so new on buying a home, is it acceptable that we make a second/new offer at the reduced full asking price? I know now that we don't have a strong negotiating point but I don't feel comfortable paying the original price since they have reduced it. Are we better off just walking away? Or what is the chances they will accept a second offer at the reduced full price?
I would print out the previous listing and the overnight changed one....I guess the listing agent would have known that some one was interested or did you go and look at the house a while ago and only now make an offer?
If you went yesterday to see the house and overnight your offer was send and accepted...it might have crossed each other but for the listing agent to change the price on the internet/mls...he must have done and known it for a few days without telling you or your agent.
No escrow money...means no contract and I wouldn't pay it and a new offer would be way lower....
Good Luck...maybe you should ask a real estate lawyer what your options are since that is the only way you would know for sure.
presumably your offer has some inspection contingencies, you may be able to wiggle out that way. If not just forfeit your earnest money, and make a second offer based on the new price minus what your earnest money was or something in that vein.
Sasa,
As an agent or a a seller, I wouldn't want to trap a buyer. If the seller/agent lowered the price, they are willing to accept that price. In my area the buyers typically have several "outs" that would get their earnest money returned, such as disapproving the seller's disclosure statement, the inspection contingency. Hopefully you can get the sellers to agree to strike out your offer price and fill in their latest list price. If not, I wouldn't want to do business with them.
Just curious....is your agent the listing agent too?
now that is a very good question!!!!!!!!!!!!!!!!!!!!!!
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. Our offer got accepted (of course
