Approaching buyer again, after deal fell through...?

[Lovehound]

Originally Posted by KeyWestBum

I noted on the counter that it expires at a certain time...and did not hear back. (I put the time limit because that's what the "official" forms the RE agent used did...figuring that must just be the way it's done.)

Here's the question...does that mean it's over? Has the weight-challenged female sang?

The RE agent told me the buyer is very picky, has been looking for almost two years, and has lost multiple deals.

Looking at the big picture, I would rather get rid of the property, than quibble over a (relatively) small amount.

Can I (should I?) approach the buyer's RE agent and say, "ok, fine, I accept their last offer." Or maybe edge down, and split the split difference amount in half (negotiating with myself??!)?

Negotiating with yourself? I hope that doesn't cause blindness or unwanted hair growth.

I'm a homeowner, not in the RE business, but IMO the time limits mean nothing unless either buyer or seller insists. For example, what if you make a counter offer and time expires, and then a day or two later your counter is accepted. Are you going to complain because the time limit expired? Or do you want the deal? Of course if the time expires and you weren't happy with the deal then you have no obligation to accept it. Or you may enter into an offer or counter-offer with another person or over a different property, and may not be interested in pursuing the expired offer.

Some people may view the time limit as final if they want a firm cutoff where they can mentally move ahead and try to find another deal. For those people the time limit probably is final. Additionally, I see no reason why somebody can't make an amended offer or counter-offer even after limits have expired (really, either party can do that if they wish). If both parties agree to do the deal even after time limits are expired then why not have a deal? At the most, somebody would have to maybe re-write the offer or counter-offer with a new time limit stated, to give the other party valid paperwork to hang their signature(s) on.

I'm a seller in counter offer stage. If they decline or the limit expires I'll instruct my agent to tell theirs to give us a call anytime if they change their minds, and I'll continue the process of marketing/showing my house... to them or to anybody else that comes up with a deal agreeable to me.

Just as there is such a thing as buyer's remorse, I'll bet there's a type of remorse felt when a deal falls through and one or both parties have second thoughts that maybe they should have taken the deal. If it was a good deal then why isn't a good deal now? At least if both parties want to proceed then they should, and damn the time limits.

[Karen59]

A seller could call to accept my offer after six months even if they previously said no; I would be very happy. If it was after a year in this market, I might have a new, lower offer.