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I think the seller has been acting strangely and I would appreciate some insight.
About a month ago I made an initial offer which was 10% below asking price. The broker said she thinks it's too low but she'll pass it on. After waiting a week for a counter offer I called the broker. The seller had never made one. So the broker called the seller, got a counter offer and gave it to me. I felt like I had to force a counter offer. I thought it was too high and went on to look at other houses.
Well, about 10 days ago we looked at the house again and then increased my initial offer which closed the gap to $20,000. The broker was happy to hear that, although she said she thinks it would still be too low but would pass it on and get back to me. That was last Thursday. I'm prepared to go up again, but again I first need a counter offer.
I don't feel like calling the broker again because it may make me look anxious but I really do want to rap this up. I don't understand why I should have to force another counter offer or why the broker hasn't updated me on what's going on. It's her listing and she seems eager for a deal to be made whenever I talk to her.
The house has been on MLS for four months and they had lowered their price twice in the first two months. Are the house owners serious about selling? Should I call again?
Location: Sometimes Maryland, sometimes NoVA. Depends on the day of the week
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No one has to counter your offer. Just as you didn't like their first counter and went shopping, they may not have liked your counter-counter and have moved on. Offer what the house is worth, based on the comps, rather than play games with 10% less, closing the gap, etc.
Did you have a deadline in your offer? It's typical in my area to put a deadline(usually 24-48 hours after offer was submitted) in an offer. If it is 48 hours, then the seller has 48 hours to accept, counter, or reject the offer. If they haven't responded in 48 hours then they have in effect rejected it as the offer is no longer valid. It saves a lot of time and you don't have to chase after anybody.
Some states have a deadline in the contract form used to make the offer. Texas doesn't, and as a former legal assistant, I don't quite see how that works, since NO clause in a contract is binding until all parties have agreed on each and every clause and signed off on it, but some agents still try to write it in as if it has any meaning whatsoever and I've seen it in several cases offend the seller and make them dig in their heels. A request for a quick response, or a note in the cover letter that the offer will be withdrawn after a certain period of time (and then following up on it in writing with whatever form your state uses to withdrawn the offer officially) is fine, of course. You might try that with your next offer, if there is one.
However, yes, a seller is no more required to counter to you than you are to counter to them. If the seller is offended enough by an offer (remember, sellers are human and get emotional, too), they may decline to acknowledge it at all. Their agent, unless specifically instructed not to, should be courteous enough to let you know this, but not all agents are. You can consider the lack of response to be the seller's counter that they do not consider your offer sufficiently interesting to even counter.
Sounds like you don't have an agent of your own. The listing agent doesn't work for you, she works for the seller, and that is rightfully where her time and energies should be spent. It sounds like your offer is not interesting enough to the seller and they don't want to play games with you to get it up to the point where it might be.
You don't have to have a counter, by the way, to increase your offer. Just decide, based on the sold comps and your informed knowledge of the market in your area, what the house is worth and submit another offer for that, and tell the listing agent that the offer replaces the previous one.
No one has to counter your offer. Just as you didn't like their first counter and went shopping, they may not have liked your counter-counter and have moved on. Offer what the house is worth, based on the comps, rather than play games with 10% less, closing the gap, etc.
yea, they don't have to counter. I just expected the broker to tell me that they are not countering, presumably because my offer is too low.
So I guess I have to call and raise my offer. Just makes me feel that I'm negotiating with myself. Didn't think that $20,000 was so far off on a $400K+ house to not get a counter.
Since you did not have your own agent, was your offer in writing and did you submit a Pre-qualification letter with the offer ?
We see a lot of "Flaky" buyers submitting low offers looking for deals and the seller must feel like you are not worth responding too.
Get more serious if you want the house.
This are two very important questions. A verbal offer (or counter) is worth the paper it is printed on. These days, all overs should have a pre-approval (not pre-qualification, which is also worth the paper it's printed on) letter with them, as well.
If you don't have one or the other, you may not be taken seriously. If the offer is verbal, they REALLY don't owe you a counter.
yea, they don't have to counter. I just expected the broker to tell me that they are not countering, presumably because my offer is too low.
So I guess I have to call and raise my offer. Just makes me feel that I'm negotiating with myself. Didn't think that $20,000 was so far off on a $400K+ house to not get a counter.
That is a very good offer, especially for cash. I can't believe they would not counter this. Most sellers would jump all over it.
Do you think they recieved your offer ? Do you think the agent is holding out on you ?
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