Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I doubt they were "playing" the buyers like that. The best way to get the most for the house would be to tell both potential buyers they have til 10pm (or whatever) to put in their highest offer and they would go w/the best offer. Agreeing to one price with one seller while negotiating with another seller on the side would not yield the highest price.
Probably they just changed their minds. They might have been caught up in the negotiating "moment", decided they'd accept a certain figure, then started questioning themselves and thinking better of it. They have every right not to go forward until the contract is fully executed and I don't think it reflects badly on them or the realtor. It's just a bummer but they did nothing wrong. They just changed their minds. It happens.
There is no mention of another buyer by the OP so my question to the OP is, did they counter with something other than what you expected or did they just completely withdraw from negotiations? If there's no other buyer, you might still get the house for a little more, or even for what you hoped if you're willing to wait.
I doubt they were "playing" the buyers like that. ... Probably they just changed their minds. They might have been caught up in the negotiating "moment", decided they'd accept a certain figure, then started questioning themselves and thinking better of it. They have every right not to go forward until the contract is fully executed and I don't think it reflects badly on them or the realtor. It's just a bummer but they did nothing wrong. They just changed their minds. It happens.
I understand your viewpont frog - I'm just not as charitable a person as you. Yes, they "just changed their minds," but you could also say that they "just lied" and "just made a promise they weren't willing to honor." They had the legal right to do what they did, sure. That the law allows you to do something is not the same as saying it's the right thing to do.
Edit to add context: Quoting from the original post - "The listing agent emailed us back and said that the offer would be accepted if we made some changes"
Last edited by CHTransplant; 05-29-2009 at 09:33 AM..
The listing agent emailed us and told us what we needed to change on the contract. We signed and sent it back within the time frame needed. My realtor instructed me on what to do. There is not another offer. I just have never heard of a seller not accepting thier own terms.
I understand your viewpont frog - I'm just not as charitable a person as you. Yes, they "just changed their minds," but you could also say that they "just lied" and "just made a promise they weren't willing to honor." They had the legal right to do what they did, sure. That the law allows you to do something is not the same as saying it's the right thing to do.
Edit to add context: Quoting from the original post - "The listing agent emailed us back and said that the offer would be accepted if we made some changes"
I know what you're saying. I just know that I have, on occasion, thought something is a great idea and then slept on it or thought a bit more and changed my mind. Not lied exactly b/c planned on following through. Made a promise they wouldn't follow through? Kind of. The contract is the promise. Before that, it's just a "thought" in my mind. Selling a house is a big thing so if they were 2nd guessing and hadn't signed, I don't blame them for changing their mind. The potential buyer can put in a new offer or move on. We just went through a MESS buying a house. The sellers were awful, but I never got upset--business is business.
I will say this: whenever I've been buying or selling I make sure our realtor gets the signature that day. Like when we were buying this time, the seller countered (in writing) and the agent said he'd bring the contract over in the morning for us to sign (we'd agreed verbally on the price, etc). I was like NO WAY, you need to come tonight even if it's midnight. I want this contract fully executed.
Ahh, I missed that too - the ole email ruse. I guess the lesson here is don't rely on emails (or phone calls) from real estate agents claiming their clients will accept a revised offer - get a written/signed counter-offer. Sadly, the seller's behavior here will reflect poorly on the real estate agent who was put in the position of representing their position, only to have to backtrack from it later.
Where we came from (Oregon) if a buyer made an offer the only way the seller could respond was accept, reject, or counter. There was none of this email business. We made an offer in 07 on our Durham home (offer was NOT low ball). The sellers agent called my agent and said what the buyer wanted (more $ etc). We almost walked away because I felt if the seller was serious then she should have put it in writing. I put on my big girl panties, made a second offer and wrote a very professional yet firm letter stating that if the seller did not find the new contract acceptable she would need to respond w/ a counter offer not email or phone... otherwise we were walking away.
I didn't have the time to play games... I proceed in a professional way and felt if others were unwilling to do so then it wasn't worth my time.
Good luck to the OP. I could go on a rant about the issues w/ the standard NC real estate contract but I won't... I'm sure the realtors on here are sick of hearing my complaints. (It's been 2 years and I'm still ranting. )
Where we came from (Oregon) if a buyer made an offer the only way the seller could respond was accept, reject, or counter. There was none of this email business. We made an offer in 07 on our Durham home (offer was NOT low ball). The sellers agent called my agent and said what the buyer wanted (more $ etc). We almost walked away because I felt if the seller was serious then she should have put it in writing.
I absolutely agree. Responding orally is game playing. Put it on paper and commit to it if you expect the other side to also commit.
Where we came from (Oregon) if a buyer made an offer the only way the seller could respond was accept, reject, or counter. There was none of this email business. We made an offer in 07 on our Durham home (offer was NOT low ball). The sellers agent called my agent and said what the buyer wanted (more $ etc). We almost walked away because I felt if the seller was serious then she should have put it in writing. I put on my big girl panties, made a second offer and wrote a very professional yet firm letter stating that if the seller did not find the new contract acceptable she would need to respond w/ a counter offer not email or phone... otherwise we were walking away.
Huh! I just went through the whole house buying thing in Durham and didn't see that. I made an offer and the seller countered. I signed the counter and that was that, end of story. We have since had our inspection and are now waiting for closing.
Huh! I just went through the whole house buying thing in Durham and didn't see that. I made an offer and the seller countered. I signed the counter and that was that, end of story. We have since had our inspection and are now waiting for closing.
So, did the seller counter with a signed contract? Because even if you signed it and returned it to them, they could of still backed out in the end without signing it.
So, did the seller counter with a signed contract? Because even if you signed it and returned it to them, they could of still backed out in the end without signing it.
How so? If the seller signed a counter offer and the buyer accepted, isn't the contract "done"?
How so? If the seller signed a counter offer and the buyer accepted, isn't the contract "done"?
Correct (I just worded it wrong). If they signed the counter, then it is done. I thought it's usually the buyer that signs the offer sheet first as a condition of acceptance though.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Yes, they "just changed their minds," but you could also say that they "just lied" and "just made a promise they weren't willing to honor." They had the legal right to do what they did, sure. That the law allows you to do something is not the same as saying it's the right thing to do.
)
