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It seems that the seller is being proactive. I too have heard many stories about closings not being executed. However it puts the seller at a disadvantage since nobody pays full price in todays market. If it were me I would not change my asking price when I had a signed contract. If I had a completed offer on a house and this happened I would not be worried.
Everyone is this market is disadvantaged. I lost money on the house we are selling and everyone is in the same situation. I have less than a month to move.
It sounds like you just don't want this house anymore and have buyers remorse.
If you follow through on your end of the contract the house is going to be yours for the price you and the seller negotiated so who cares what they list it for? I guess one thing it could show is that you probably *could* have gotten the house for less money if you negotiated a bit more aggressively.
No quite contrary. We love the house! I just do not like "dirty pool". I did my homework and got the house at a good price for the neighborhood it is in.
Wow, someone of you seem to be a little hard. I have never seen this before done anywhere. We just spent quite a bit of money traveling down there to find a house to call home. But, I guess things happen for a reason. I just hope when any of you are in a bind and do things right, I hope this situation never happens to any of you. Have a nice day!
Moving is always stressful, so I feel for you.
What I, and many others, are having trouble understanding is what the situation is. Do you have a valid contract? Yes or no? If you do, and all the clauses are fulfilled, then you close on the house. I am just not seeing what the problem is, except *maybe* you hoped to get the house for 10k less than whatever the list price was.
If you were happy with the agreed to price before, then you should still feel that way, and worry instead about moving in all this heat. (Stock up on popcycles and water for the movers!)
We had a signed and fully executed contract and agreed on the price which is now what they have listed it for on the MLS. Our broker is trying to see if we can get out of the contract and put a bid on another house.
Their argument might be that we have a signed contract, and ours will be that it was unethical to list for the price that we agreed to pay. Anyone looking at this house now, makes an offer and gets the house for quite a bit less.
That's not true BlueDiamond! NOONE else can buy this house as long as you go thru with the contract. I am really concerned about the realtor you have hired - she/he is not giving you very good advice. These homeowners have done nothing unethical!
Since you love the house, and you need to move quickly this is really a nonissue, just show up at closing and the house is yours, for the $10,000 less than list price that YOU agree to
It sounds to me that it's more important to you to say to yourself or others that you got the home $10k below list price then buying the actual home! lol
It's still the same house, all conditions/concessions are exactly the same, and you got it at the price you felt was fair. I fail to see any issue beyond having to tell people you "paid listing price".
Has it gotten that bad where you feel ripped off paying "list price"?
It sounds to me that it's more important to you to say to yourself or others that you got the home $10k below list price then buying the actual home! lol
It's still the same house, all conditions/concessions are exactly the same, and you got it at the price you felt was fair. I fail to see any issue beyond having to tell people you "paid listing price".
Has it gotten that bad where you feel ripped off paying "list price"?
Mikey, it's sillier than that - they DID negoiate the list price down by $10,000 - she is NOT paying list price.
She seems to be under the mistaken impression that now that THAT agreed upon price has gone into MLS to keep the house on the market until close that somehow the sellers are "unethical".
No quite contrary. We love the house! I just do not like "dirty pool". I did my homework and got the house at a good price for the neighborhood it is in.
Nobody is playing "dirty pool." You seem awfully suspicious of folks! You wrote about how you were afraid of being "shunned" b/c you are not from this area and now you are writing that just b/c someone is making sure their house is still seen until the it closes (in case it doesn't close!) - they must be nefarious and "immoral."
Lighten up! You put an offer in. It was accepted. As long as you don't default, the house will be yours.
I think the bottom line has nothing to do with your public contention that the homeowners are "immoral." I think you now wonder if you could have gotten the house for less and so are trying to figure out a way to do just that.
That makes it look like YOU are the one trying to "get something over" on the Seller.
Contracts work both ways. Looks like the house is yours.
And take some advice: you have seemed so worried about "fitting in" to the neighborhood, making friends, not being around snobs, not being shunned (from other posts) . . . Once you are in the house, don't tell everyone in the neighborhood that the former owners were "immoral" for creating a back up listing (in case yours falls through). They will doubtless think you are a ripoff artist and not to be trusted.
Mikey, it's sillier than that - they DID negoiate the list price down by $10,000 - she is NOT paying list price.
She seems to be under the mistaken impression that now that THAT agreed upon price has gone into MLS to keep the house on the market until close that somehow the sellers are "unethical".
We see statistics from the NAR all the time on "percent of list price"... So in this case using made up numbers.
List price was $260k
Go into contract for $250k
Seller updates MLS to new list price at $250k
If this deals go through, I wonder how this is counted in those statistics... Is this a full price sale?
We see statistics from the NAR all the time on "percent of list price"... So in this case using made up numbers.
List price was $260k
Go into contract for $250k
Seller updates MLS to new list price at $250k
If this deals go through, I wonder how this is counted in those statistics... Is this a full price sale?
Good question Mikey, but don't muddy the waters here and confuse BlueDiamond, lol!! That question really has nothing to do with her concern
I am very concerned about a realtor who would support their client in thinking that keeping a house in the MLS until close is "unethical". It is not at all unethical and is common practice.
We see statistics from the NAR all the time on "percent of list price"... So in this case using made up numbers.
List price was $260k
Go into contract for $250k
Seller updates MLS to new list price at $250k
If this deals go through, I wonder how this is counted in those statistics... Is this a full price sale?
The way I understand it, the Seller just listed on REALTOR.COM. This would have nothing to do with MLS stats. The MLS system will show the listing price at time of contract and once it closes, the data will reflect the actual selling price.
You probably missed that the homeowner (not the real estate broker/agency) had simply done a back-up listing on Realtor.com.
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