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Finally found that home where your heart says, WOW, this is our home, high price tag for our budget but doable with a ton of upside. Our realtor advises, don't play games with this home if you really want to go for it. We go for it....Listing price and all! Needs updating (CC, likely new windows, basement, etc). What we like, is the charm of the home, super high ceilings and all the 'potential'.
Soooooo, no brainer right? In a tough market, buyer(us) puts in offer 1st day(open house) at LP...let the champagne rain....
uhmmm, well not quite. 3 days later, no answers, wife is super-stressed and questioning all, including high taxes(NJ) and why are we losing our leverage on this home!
Finally, we've had enough as we feel our offer is a driver to start some bidding war! Yet, with 20+ folks, we were the only offer!
After this BS of 3 days, finally withdrew our offer.... what where they thinking?
Lots of 'odd' stuff going on right now. Agents sometimes resort to a super low price to attract quick offers (bidding wars at times). You will see that more with short sales in hopes to stop foreclosure action but ultimately list price is not really an 'offer' to the market and may not be the 'top' price. I am sorry this happens as home is where the heart is and people emotionally move in when they make an offer.
Finally found that home where your heart says, WOW, this is our home, high price tag for our budget but doable with a ton of upside. Our realtor advises, don't play games with this home if you really want to go for it. We go for it....Listing price and all! Needs updating (CC, likely new windows, basement, etc). What we like, is the charm of the home, super high ceilings and all the 'potential'.
Soooooo, no brainer right? In a tough market, buyer(us) puts in offer 1st day(open house) at LP...let the champagne rain....
uhmmm, well not quite. 3 days later, no answers, wife is super-stressed and questioning all, including high taxes(NJ) and why are we losing our leverage on this home!
Finally, we've had enough as we feel our offer is a driver to start some bidding war! Yet, with 20+ folks, we were the only offer!
After this BS of 3 days, finally withdrew our offer.... what where they thinking?
SMART! Like I was telling them in Summerlin, NV two years ago, I don't bid against myself, and you know dern well they've asked for highest and best, when they've only had one offer. After about the second time of me lowering my offer by a few thousand--they seemed to get the message. I got a nice condo for 35,400 that was listed for 45,000.
After this BS of 3 days, finally withdrew our offer.... what where they thinking?
Actually I'm wondering what you were thinking? You were only willing to wait three days? And you really loved the house?
The real estate market is very different than it was even a few years ago - and it sounds like you were making a lot of assumptions about the way it should work. Pulling back your offer, just because they don't jump as quickly as you expect them to seems like a very strange choice to me.
Actually I'm wondering what you were thinking? You were only willing to wait three days? And you really loved the house?
The real estate market is very different than it was even a few years ago - and it sounds like you were making a lot of assumptions about the way it should work. Pulling back your offer, just because they don't jump as quickly as you expect them to seems like a very strange choice to me.
I disagree. They made a full list price offer on a house, and heard NOTHING for three days. No response. A seller in this market should at very least provide a response, even if it's "Thanks for the offer, it came faster than we expected, please give us some time to consider it." Pulling back, or demanding some response, is not a strange thing at all, under normal circumstances. Of course, that's the question here; are the circumstances normal, or is there something we don't know?
I disagree. They made a full list price offer on a house, and heard NOTHING for three days. No response. A seller in this market should at very least provide a response, even if it's "Thanks for the offer, it came faster than we expected, please give us some time to consider it." Pulling back, or demanding some response, is not a strange thing at all, under normal circumstances. Of course, that's the question here; are the circumstances normal, or is there something we don't know?
Ditto this. Seller should have responded to a full price offer easily within 3 days. If something happened that they couldn't respond then they should have informed the buyers of that.
Actually I'm wondering what you were thinking? You were only willing to wait three days? And you really loved the house?
The real estate market is very different than it was even a few years ago - and it sounds like you were making a lot of assumptions about the way it should work. Pulling back your offer, just because they don't jump as quickly as you expect them to seems like a very strange choice to me.
If my clients made a full price offer and I got no reply over 3 days I'd be pissed. I don't blame them one bit, unless it was a REO that was offered on. Banks can be slow to respond sometimes.
They are often taking calls, while they are talking with you, and then when you need some basic communication--they act like they live in caves. Don't tolerate it. They should have at least said we will let you know on a certain date if that is OK. An expiration on all offers is appropriate. The banks will disregard it, and take there time, and then that's your wildcard if you found something else. Well, that's nice, but that offer expired last Friday....I may consider resubmitting. Turn the tables on the ole sense of urgency nonsense, especially if you have cash.
Actually I'm wondering what you were thinking? You were only willing to wait three days? And you really loved the house?
The real estate market is very different than it was even a few years ago - and it sounds like you were making a lot of assumptions about the way it should work. Pulling back your offer, just because they don't jump as quickly as you expect them to seems like a very strange choice to me.
What are you thinking?
It was a full price offer
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