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Have been absolutely desperate to sell an "unsellable" house for nearly a year now. Not only no offers, but not the slightest interest, even now that we're getting more showings with greater exposure and a lower asking price. I then noticed that the realtor described it as only a "large yard" when, in fact, it's a double lot. Hello? Selling point! Especially considering what's on the OTHER side of the house (shared driveway with undesirable neighbors). Got this fixed after a week or two of people totally missing that.
By some miracle, we got an offer. Young family fell in love with the house and lot; not at all bothered by neighbors. Realtor wouldn't tell us what it was on the phone (this was 7:00 pm on the Friday of the Labor Day weekend) so, as my sibling and I drove to her office to learn the details, we discussed how eager we were to sell it and how agreeable we would be to any decent offer whatsoever at this point...
Turns out it's a GOOD offer; just $5k off asking. They didn't have cash, so needed closing costs. Also wanted the washer/dryer, etc. Anything; we were ready to take it. Why we didn't just sign off on it, I'll never know, but the realtor -- rushing off on her holiday weekend and talking fast -- went off on some tangent about how they really just need the cash for closing and that's the only problem and so that, along with all the appliances and even some furniture they'd requested, it would amount to $5k, and adding another $5k to the home loan wouldn't matter over the life of the mortgage, blah-blah-blah...
Giddy that the end was in sight, mesmerized by droning on and on, reassured that this wouldn't be a problem, we signed a *counteroffer* for full asking, conceding all asked and paying all closing costs...
***DEAD IN THE WATER***
Suddenly the down payment is supposedly an issue.
WHY???
Signed, "Too Dumb to Live"
Not we signed a counter offer, you signed it. Don't blame anyone but yourself. Better luck next time.
Buyer, at the eleventh hour, came up with both his own down payment and a valid pre-approval letter. We all agreed to sign off on $5k under asking with closing costs included, although brother was still grumbling about what a great deal the buyer is getting (who cares?). And you'd think I'd learn to keep my mouth shut but, again, I'm "an ignorant jerk," so...
I make the mistake of laughingly telling my sibling that we had three showings yesterday and this one guy claimed he couldn’t write a contract “till he got his inheritance on Monday,” which is a seriously polite way of saying “You couldn’t pay me to live ten feet away from that trash heap next door on this shared driveway.” (The realtor then entered the room and told him the same story, so...) My brother says, “WELL, WE’LL WAIT UNTIL MONDAY THEN...” Arrgghhhhh!
Realtor and I had to bust our collective buns convincing him it was a bogus excuse; had he wanted it, he’d have written an offer; he knew we were signing that night; the buyer wasn’t willing to wait; the only offer you have is the offer you have; a house is worth only what someone’s willing to pay for it; we were lucky to get any offer at all; etc., etc. (all the things you told me here). After 30 minutes, I finally had to threaten to take him to court for a forced sale of the house, which would be an absolute auction, which would make him very sorry. The realtor gently whispered (I was apoplectic, at this point), “If this is the only offer you’ve had in a year, I would probably suggest that you take it.” He finally signed, swearing that we wouldn’t make any repairs, which -- obviously -- we will have to, to accommodate buyer's FHA loan...
He says, “It’s not about the money What’s it about, then; holding me hostage and thwarting my life for the fun of it?
Buyer, at the eleventh hour, came up with both his own down payment and a valid pre-approval letter. We all agreed to sign off on $5k under asking with closing costs included, although brother was still grumbling about what a great deal the buyer is getting (who cares?). And you'd think I'd learn to keep my mouth shut but, again, I'm "an ignorant jerk," so...
I make the mistake of laughingly telling my sibling that we had three showings yesterday and this one guy claimed he couldn’t write a contract “till he got his inheritance on Monday,” which is a seriously polite way of saying “You couldn’t pay me to live ten feet away from that trash heap next door on this shared driveway.” (The realtor then entered the room and told him the same story, so...) My brother says, “WELL, WE’LL WAIT UNTIL MONDAY THEN...” Arrgghhhhh!
Realtor and I had to bust our collective buns convincing him it was a bogus excuse; had he wanted it, he’d have written an offer; he knew we were signing that night; the buyer wasn’t willing to wait; the only offer you have is the offer you have; a house is worth only what someone’s willing to pay for it; we were lucky to get any offer at all; etc., etc. (all the things you told me here). After 30 minutes, I finally had to threaten to take him to court for a forced sale of the house, which would be an absolute auction, which would make him very sorry. The realtor gently whispered (I was apoplectic, at this point), “If this is the only offer you’ve had in a year, I would probably suggest that you take it.” He finally signed, swearing that we wouldn’t make any repairs, which -- obviously -- we will have to, to accommodate buyer's FHA loan...
He says, “It’s not about the money What’s it about, then; holding me hostage and thwarting my life for the fun of it?
At any rate, contract signed. Onward and upward!
Do whatever you have to, to get the sale done. Sometimes it's better to take a lot less and be done with the headache, think twice in the future about what you say to your brother. When you have an albatross around your neck you have to do whatever you can to get rid of it.
Tell your brother to not think of the amount of money if you sell, tell him to think of the amount of money he won't get if you don't sell and continued expenses of taxes and insurance and remind him that anything that goes wrong without a seller has to be repaired. If your boiler or hot water heater breaks or you have a water main break you have to pay to fix it, If it happens after the sale your headache is over.
And now THIS appears in my realtor's inbox from Inheritance Man after she TOLD him we were signing last night and he'd better act fast. It just gets better and better!
"After viewing the other place yesterday afternoon I decidedthat it was not what I was expecting. On the other hand the property youshowed me was more than I was expecting. It felt right to bein that home. So, I'd like to make an offer of $85,900 ($900 over asking) for the property provided it passes inspection as long as the seller is willing to:
1. Leave behind the corner hutch located in the dining room
2. Leave behind the flint lock rifle located in the living room above the fireplace
3. Leave behind all rugs, including the ones located in thebasement and not currently being used
4. Leave behind the leather couch, ottoman and two chairs located in the living room
5. Leave behind the small table and lamp located beside the chair by the fireplace in the living room
6. Make copies of all the old black and white photos displayed on the walls currently and write out a brief history of the person(s)in the pictures so that I can share the history of the house and its family with my friends and family and have pictures to show them. I will also likely display these photos in their current locations to attempt to keep the charm that the house has at this time. I might possibly cluster them and display them in the dining room
7. Split the closing costs 50/50
I hope that the seller can agree to these terms, but I certainly understand that if any of these items are family heirlooms with which she cannot part or if she prefers to not have me display her family photos I will be willing to work with her. I am getting ready to fill out the mortgage application and should have an answer by the end of the day. I will also contact a home inspector as soon as I have confirmation the seller is willing to agree to these terms or we have negotiated a final agreement."
People! I couldn't work as a realtor for love or money...
I would never leave pictures of the family for the new owners, but that's just me. If there were pictures of the home or property without anyone in it that would be fine. This new buyer sounds like a busy body and want everything and wants you to jump thru hoops and do homework. I would negotiate on the furniture or give it if I didn't need it and it didn't have value.
If he wants the house, he should still want the house without all the other stipulations, I would sooner sell to the other person for less money.
I would also never leave behind a working firearm, if ti's non working and just for decoration, or if I can fill it with cement or make it so it never works again maybe.
The good thing about splitting the closing cost means he has to split your costs too if it's written in the contract.
Family pictures... What is up with that??? And the firearm is an extremely rare and expensive antique that probably shouldn't be hanging on the mantle, so...just no. As for the furniture, that would be my furniture (I need it). But it's flattering... I guess?
Family pictures... What is up with that??? And the firearm is an extremely rare and expensive antique that probably shouldn't be hanging on the mantle, so...just no. As for the furniture, that would be my furniture (I need it). But it's flattering... I guess?
So what if I did something shady to get the money like farmed opium or something. Am I unable to buy a house with that money or can I just slowly trickle it into a bank account and pay with a cashiers check?
So what if I did something shady to get the money like farmed opium or something. Am I unable to buy a house with that money or can I just slowly trickle it into a bank account and pay with a cashiers check?
If you can grow opium in greater Pittsburgh, then more power to you. You have a very green thumb. Slowly trickle is the operative term.
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