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We plan to make an offer tomorrow. Still unsure what to offer though... I've written a friendly cover letter referencing the closest comparable so they understand our offer better. Let's hope my agent will allow me to send it along with the offer.
We plan to make an offer tomorrow. Still unsure what to offer though... I've written a friendly cover letter referencing the closest comparable so they understand our offer better. Let's hope my agent will allow me to send it along with the offer.
You hope your agent will allow you....? Really?
Are you an adult?
Did you hire a real estate agent to assist and advise you on the purchase, or to be your nanny & tell you what you may or may not do?
A real estate agent is an adviser & service provider. He should give you facts, information, & advice, so that you can make the best decision for you. He should tell you what is customary, what he has seen work or not work, and what he sees as the best way to achieve your objective. He should then take your informed (hopefully) decision and carry it out. If he's not prepared to do that, he should let you know, so that you may choose a different professional to represent you.
He should NOT tell you what he will ALLOW or not ALLOW, regarding YOUR purchase of a house, except to the extent that he refuses to follow your instruction if you ask him to do something illegal. I suggest that if you are going to let your agent tell you what he will ALLOW or not ALLOW, then any advise you get here will be useless anyway.
Are you an adult?
Did you hire a real estate agent to assist and advise you on the purchase, or to be your nanny & tell you what you may or may not do?
A real estate agent is an adviser & service provider. He should give you facts, information, & advice, so that you can make the best decision for you. He should tell you what is customary, what he has seen work or not work, and what he sees as the best way to achieve your objective. He should then take your informed (hopefully) decision and carry it out. If he's not prepared to do that, he should let you know, so that you may choose a different professional to represent you.
He should NOT tell you what he will ALLOW or not ALLOW, regarding YOUR purchase of a house, except to the extent that he refuses to follow your instruction if you ask him to do something illegal. I suggest that if you are going to let your agent tell you what he will ALLOW or not ALLOW, then any advise you get here will be useless anyway.
Are you an adult?
Did you hire a real estate agent to assist and advise you on the purchase, or to be your nanny & tell you what you may or may not do?
A real estate agent is an adviser & service provider. He should give you facts, information, & advice, so that you can make the best decision for you. He should tell you what is customary, what he has seen work or not work, and what he sees as the best way to achieve your objective. He should then take your informed (hopefully) decision and carry it out. If he's not prepared to do that, he should let you know, so that you may choose a different professional to represent you.
He should NOT tell you what he will ALLOW or not ALLOW, regarding YOUR purchase of a house, except to the extent that he refuses to follow your instruction if you ask him to do something illegal. I suggest that if you are going to let your agent tell you what he will ALLOW or not ALLOW, then any advise you get here will be useless anyway.
I live in a smaller town, all the agents here are set in their ways. I asked about including a formal cover letter with or last offer (another house) and my agent said they didn't do that (here) and she would have to ask her boss (broker?) if that was ok.
My buyers agent wasn't hired but has spent time showing me houses. She isn't the most tactful, or helpful, or explanatory and often it feels like I am butting heads with her. I am an adult, but I also know these realtors in my town seem more buddy-buddy than helpful to their clients and my buyers agent and the sellers agent are in the same company. Sellers agent on the home is the owner. I don't want to throw the baby out with the bathwater and lose any chance at this house at a fair market price. There are approx 12 houses for sale in my price range, they've been for sale for awhile - some over 2 years. We have to be out of our home in 80 days with an FHA or USDA loan. The houses aren't moving and my choices are limited. If we don't get this house, we have to leave town. I hate to be desperate but honestly we kind of are. I won't, however, overpay for a house regardless.
It's really unfortunate to feel this way but it's just the way it seems to be in small towns where people know everything. I don't want to be labeled a problem buyer/client.
I'm sure I sound like I'm making excuses. We've thought of firing her but we don't want to sabotage anything at this point.
Last edited by BizzyIzzy; 07-16-2012 at 09:58 PM..
I live in a smaller town, all the agents here are set in their ways.
If you don't already have the RE attorney to work with... NOW is the time to get one.
They should be reviewing any contract (agent, offer, etc) before you sign...
and with their familiarity of your area and process advise you on HOW to go about things there.
Among that general category of advice would be many of the topics touched on in this thread
and specific help with being certain that the SELLER is approached fairly and presented with
YOUR offer in the best way that might support YOUR purposes.
I hope your letter works. As a seller I would find an attached letter to be a big turn off. I don't wish for a buyer to explain why I should take their offer (which is how they will likely take it).
I don't think your offer is so low that you won't be able to negotiate a price. On the other hand, I think you are hurting your chances of a negotiation by including a letter. This is my opinion. Maybe some others who have done this or have received letters with an offer can bring further thoughts. It could be I am the minority here...
I hope your letter works. As a seller I would find an attached letter to be a big turn off. I don't wish for a buyer to explain why I should take their offer (which is how they will likely take it).
I don't think your offer is so low that you won't be able to negotiate a price. On the other hand, I think you are hurting your chances of a negotiation by including a letter. This is my opinion. Maybe some others who have done this or have received letters with an offer can bring further thoughts. It could be I am the minority here...
You can't predict how a seller will respond. We've had several times where a seller got multiple offers and took the one that the buyer wrote a letter detailing how much they love the house. The seller loved the letter that they chose that buyer, even though other offers netted them more money. In one case, the seller took an offer $40k lower than the highest offer because of the attached letter. They do work with some sellers.
We made the offer 100,000+ the washer and dryer and they pay three up to $3000 in closing costs. They've countered back 117,000 they pay closing and we keep the washer and dryer. I suck at this back and forth game. Our top offer will be around 108,000 give or take a little. Should we counter back at 101,500 or just counter back our top offer and see what they say? I honestly hate this part.
We made the offer 100,000+ the washer and dryer and they pay three up to $3000 in closing costs. They've countered back 117,000 they pay closing and we keep the washer and dryer. I suck at this back and forth game. Our top offer will be around 108,000 give or take a little. Should we counter back at 101,500 or just counter back our top offer and see what they say? I honestly hate this part.
If you know the max you want to spend and it is somewhere in the middle of both offers, go ahead and throw it out there. I personally think it is stupid for buyers/sellers to try and close a $20,000 gap in increments of $1000-$2000. If they reject your ~$108k offer, then you can choose to offer more than you are comfortable paying or walk away. Eventually the sellers may get the point that they are overpriced and come running back to you.
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