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I am in the process of selling my home, long story short, the buyers agent is being really difficult (IMO). We are currently up to addendum "G". I asked my agent whats the highest addendum he had to deal with, and he said this was the highest one. He did mention a concern that lenders sometimes start to wonder what is going on when they see a stack of addendums.
I have bent over backwards for these buyers, and its becoming a little ridiculous. I have agreed to fix a bunch of "nit picky" things, although only 2 were stated as "safety concerns", but now they want the windows replaced. I had disclosed them, and the inspection report stated the "windows are "foggy", but only a cosmetic concern". The windows are in the same condition from when I bought the house over 4 years ago, and have not gotten any worse.
My main question is, what is the maximum amount of addendums an agent has had to deal with?
And also, why would a buyers agent risk losing a deal over semantics? Rumor has it, this buyers agent has done this in the past, lose deals over nonsense.
Last edited by darjoh; 02-01-2008 at 05:11 PM..
Reason: spelling
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,302,067 times
Reputation: 6471
I feel your pain darjoh, there are definitely some real estate agents that think they are being professional by the number of pages they can generate. I don't look forward to the next deal I have to go through with them and will avoid them as much as possible.
It sounds like your buyers have watched too many episodes of HGTV. If you can afford to pass them by, you might just call their bluff and say "NO MORE" do the deal now or take a walk. It sounds like they're just abusing you now because they got away with some little "nit picky" things. The agent with an inflated ego is a dangerous person, they forget who they work for.
The most number of addenda I've ever dealt with is 5 and that was for real estate and business involved.
Good luck to you in every aspect of this transaction.
darjoh, I too am sorry that you are going through a difficult process on this. However, some of the "cosmetic" items you mention may be legitimate issues. If your windows are foggy and they are double pane then it probably means the seal has been broken, and this could be a functional issue. From an energy perspective this makes them less efficient, not to mention unsightly. Unless you are selling your house as a "fixer upper" it doesn't surprise me that the buyers would want the window issue resolved.
Good luck with the rest of the process.
If your windows are foggy and they are double pane then it probably means the seal has been broken, and this could be a functional issue. From an energy perspective this makes them less efficient, not to mention unsightly.
Even though the window issue was disclosed? These buyers took two walk through's, before making a full price offer. The price reflected the window issue (9k below value). The inspection report stated why they were foggy, yet included it was only a cosmetic concern.
My suspicion is, the only reason why they made a full price offer was antisipating knocking down the price based on the inspection report, being there were no major issues, and I corrected what they requested (above and beyond, ex: I replaced a set of steps because the inspection report said "the top step is too high", also fixed things on the inspection report that they didn't request to be repaired.) this is all the leverage they think they have.
I talked with my agent, and went back with a "take it or leave it".
My agent also said, he would take it off the MLS, and relist it at a higher price if I replaced the windows. Which I might do.
The most addenda I have had on a contract was 9 (up to I). Had that happen twice actually. Yep, they were painful transactions...
It doesn't matter that the window was diclosed. Many agents choose to ask for repairs all at once, rather than asking for them at different times. While I prefer to ask for those kinds of things upfront, most agents encourage their buyers to just submit the request at one time.
I think the issue you need to talk with you agent is market conditions. I am seeing buyers ask for everything because we are in a buyer's market. If you are willing to lose buyers and go through the process again, that would be your choice. Only your agent call accurately tell you if that is a wise strategy based on the market where you are.
In AZ we have a BINSR (Buyers Inspection Notice & Sellers Response.
The buyer has x days after contract acceptance to do the inspections, and must make all requests to repair, or cancel the contract within that inspection time frame. The seller has the option to fix, not fix, or cancel the contract.
They cannot keep coming back at you. So check with your agent about this for your state.
The buyers did mention the window factor in the first repair addendum, they requested 7 out of 13 windows to be replaced/repaired. Only two are really bad that you can clearly see the fogging. The rest are minuscule. I gave an ultimatum for one bedroom window, or a credit. The second window is in a downstairs area that has no view, but of a bush.
At this point I feel like they are insulting me. This is a solid house, and a great deal for the area market. I have no problem nullifying this deal, and to move on to someone else. I know the buyers are in a compromising position with their current housing situation, and if they want this house bad enough, they will accept my terms.
But I truly feel this is the buyers agent being cantankerous, not the buyers themselves. They own a business two blocks from my house, and I know they would want to be here. They are "well off" and besides, if I repaired the windows, they would probably replace them with new vinyl anyway.
I also feel like if I repair, or replace the window(s) in question, I am increasing the value of my home, and then I am stuck selling it at the same asking price? I mentioned in a response, that if I repaired/replaced said windows, the price would reflect the cost of such repairs. They responded with a technicality in wording from the MLS, stating the house was not for sale in an "as-is" condition. Thats why they did a "whole house inspection".
I think he his doing all he can. He warned me about this buyers agent before I accepted the offer. He told me some stuff about this agent on his practice in the past, losing worthy deals over semantics. He was really hesitant to want to deal with this agent, but he will do what I ask of him.
I trust my agent, he knows this area well, and he is the same agent that helped me buy the house in the first place 4 and half years ago. He reminds me of his boundarys as a real estate agent, and only gives me suggestions to help resolve this conflict.
I think he his doing all he can. He warned me about this buyers agent before I accepted the offer. He told me some stuff about this agent on his practice in the past, losing worthy deals over semantics. He was really hesitant to want to deal with this agent, but he will do what I ask of him.
I trust my agent, he knows this area well, and he is the same agent that helped me buy the house in the first place 4 and half years ago. He reminds me of his boundarys as a real estate agent, and only gives me suggestions to help resolve this conflict.
Ask your agent about the Buyers Inspection Notice and Sellers Response. I'm not familiar with other states, but in AZ and CA the buyer has only one chance to ask for repairs.
What state are you in? If you'll give your state, then others on the board who are from that state can offer you advice. It just doesn't sound right that a buyer can continuously ask for repairs.
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