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Ok, I am not talking about the CONTINGENCY....this is standard practice all over. What I am referring to: is listing the house on the MLS at the purchased price, this is what I find confusing.
Thats just it. The house isn't PURCHASED!!!! You have a contingent offer to buy it and quite obviously you are not that serious about buying it. If you want to solve the problem then take the contingency off and close the darn thing. Otherwise do not flip out when the other side of the deal is protecting themselves as much as you are protecting yrself.
If you do buy it please let us know what school district it is in so we can make sure to warn the teachers.
As FYI listings flow to Realtor.com from an automated feed from the local MLS here.
And so the concern is that this realtor doesn't know how to properly conduct business in MECK?
I still fail to see how anything nefarious is going on here. If the concern is with the realtor, why did BD title the thread to indicate that SELLERS are immoral?
Last edited by Green Irish Eyes; 07-11-2010 at 11:43 AM..
Reason: Edited out reference to deleted post
And so the concern is that this realtor doesn't know how to properly conduct business in MECK?
I still fail to see how anything nefarious is going on here. If the concern is with the realtor, why did BD title the thread to indicate that SELLERS are immoral?
There is a huge difference between real estate in Florida and real estate in NC - this is why there is no reciprocity between the two states.
So someone who has been a realtor a long time in one state would have a very hard time adapting to all the rules and differences in the other.
I think BlueD has gotten involved with a realtor very inexperienced in NC real estate and is getting bad advice if she's been led to believe there is something wrong with what the sellers are doing.
I agree to buy your house, put a nice down payment on it. The people that are buying my house are closing Monday. I have excellent credit. I travel down to North Carolina from Northeast PA and start looking for schools for my children and put money out on that too.
And, so if you think that what the seller's did was in good faith and a decent thing to do, then obviously we are sitting on different sides of the fence. And, so as you say, it is not immoral, unethical, illegal, etc.
I just do not think it was a nice thing to do. That is all I am saying!! Especially in this market.
I'm telling you - per my original reply... The OP wants to believe they got a "deal" here by closing 10k below listing price. It's upsetting them for no real reason beyond realizing they probably overpaid.
The seller protecting themselves by updating the listing makes perfect sense. I'm guessing the OP DID overpay (the seller was willing to take less).
I would guess this is a list price to sold price manipulation by the listing agent.
I would also venture a guess that there is no price reduction addendum to the listing contract.
I would venture another guess that the listing agent will so the appraiser the MLS report making the appraiser think it's a fair market value full price offer.
There is a huge difference between real estate in Florida and real estate in NC - this is why there is no reciprocity between the two states.
So someone who has been a realtor a long time in one state would have a very hard time adapting to all the rules and differences in the other.
I think BlueD has gotten involved with a realtor very inexperienced in NC real estate and is getting bad advice if she's been led to believe there is something wrong with what the sellers are doing.
I agree to buy your house, put a nice down payment on it. The people that are buying my house are closing Monday. I have excellent credit. I travel down to North Carolina from Northeast PA and start looking for schools for my children and put money out on that too.
And, so if you think that what the seller's did was in good faith and a decent thing to do, then obviously we are sitting on different sides of the fence. And, so as you say, it is not immoral, unethical, illegal, etc.
I just do not think it was a nice thing to do. That is all I am saying!! Especially in this market.
Blue you are making the biggest mistake buyers and sellers make sometimes - you are getting so emotional about this that you are losing perspective.
THIS IS BUSINESS. The sellers are protecting themselves, that's all. It's not unethical, it's not dirty, and it's certainly not immoral - it's not even a mean thing to do.
I agree to buy your house, put a nice down payment on it. The people that are buying my house are closing Monday. I have excellent credit. I travel down to North Carolina from Northeast PA and start looking for schools for my children and put money out on that too.
And, so if you think that what the seller's did was in good faith and a decent thing to do, then obviously we are sitting on different sides of the fence. And, so as you say, it is not immoral, unethical, illegal, etc.
I just do not think it was a nice thing to do. That is all I am saying!! Especially in this market.
Again, you are waaaaaaay out there somewhere if you think contract law is somehow immoral.
How can it be immoral to follow the law? No one is cheating you; no one is doing anything unethical to you.
What concerns me is that somehow you think you have been affronted, insulted, cheated - whatever.
This is standard practice. You put in an offer on a house, but the home you own hasn't closed. This happens frequently!
As I clearly explained to you, this has occurred with TWO of my properties in the past. One in the midwest (Kansas City metro) and one here in NC.
Sellers do not know Buyers in most cases. So it is simply a business transaction. You are over-personalizing a business transaction. No one is doing anything that varies from THE STANDARD for us ALL.
I'm telling you - per my original reply... The OP wants to believe they got a "deal" here by closing 10k below listing price. It's upsetting them for no real reason beyond realizing they probably overpaid.
The seller protecting themselves by updating the listing makes perfect sense. I'm guessing the OP DID overpay (the seller was willing to take less).
Does not matter, we have an opt out on our current house and will cancel the contract. Will wait before we move. This time, I will find a realtor that has experience in NC, knows the area and knows the schools!
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