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Home sat on the market from October 2007 - HELLO!!! it is now March of 2009 - hmmm that is about 18 months right? (they did take a two month break in between expiration dates) - well I take my clients to see it twice, we decide to put in a very reasonable bid and guess what? TWO offers on the same day!!! ( coincidence? - who knows) So my clients up their offer and it get's accepted - we make the necessary changes on Saturday and I drive the contracts over to the listing agents home at 8:30 at night, so that this morning the sellers can sign and my people can do their home inspection at noon today.
At 9 am the sellers are having sellers remorse!!!!!!! They won't sign the papers.............. Honestly, what a waste of everyones time and energy......
Now, this is not about making a lot of money folks, this is a small 2 bedroom home built in the 1800's - - - - - - - - - - - - It's more about my poor first time buyers that were so happy.......leave it to me to burst the bubble.
How many times has this happened to you? My brokers been doing this for almost 20 years and said it never has happened to him once.
There is nothing better I would like to do than buy another home today! I have been scouring fsbo's for them... no luck in that criteria......sellers have until 6pm on Tuesday or we walk.....what a mess.
So what 's the real story? Did they agree to a price and rethink it or was something else going on?
I am surprised the listing agent did not try and structure this contingent upon sellers finding a suitable place, in X days.
I have no experience like this but know an agent who did, at the peak of the market, days before closing. Sellers decided not to move. Both agents got paid and the buyer got their earnest money, reimbursed for out of pocket expenses and a substantial amount, for the release.
So what 's the real story? Did they agree to a price and rethink it or was something else going on?
I am surprised the listing agent did not try and structure this contingent upon sellers finding a suitable place, in X days.
I have no experience like this but know an agent who did, at the peak of the market, days before closing. Sellers decided not to move. Both agents got paid and the buyer got their earnest money, reimbursed for out of pocket expenses and a substantial amount, for the release.
If I knew the real story, I might not be so livid about the entire thing.
The price was fair, very fair a few thousand below asking.
We extended the closing about 3 weeks so they didn't have to drive their children to school, I think no I know we were very fair with them.
There was no inspection completed and no attorney approval finalized and it's not about money at this point, so that's not an issue.
They went out house hunting yesterday and I think since they didnt find their dream home, they got discouraged. I am not representing them, so I can;t answer honestly, just guessing. We actually met the sellers twice while looking at the home, the owners comment was, If he didnt find something, he wasn't worried as they had many other places to stay until they did.
Sad and so sorry. Yes it happens unfortunatley lots, as just this week, I was working with a young couple, a first home, and not spending that much, and put in an offer, and needed the dad to send proof of funds, as was using a trust account, and the list agent explained, no other offers, and on the second day, got a sorry email, saying they recieved and accepted another offer. Like you, its not about the money, as was not much, just the having to tell my clients. After recieving the email, of course I called, and especially thanked her , for the courtesy call, as my practice was always, when I had an offer, would keep everyone advised, and it could very well have lead to even bidding more. So , Go figure, and always remember, what goes around, comes around.
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