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Ok, I think most of you have read about my home inspection and how the guy nitpicked and asked for everything. We said no to alot of it so he came back demanding 3000 dollars. The problem for us is that we are at our rock bottom on pricing here. We asked him not to nitpick us on home inspection and he was aware of our situation....Anyway my realtor says she is going to kick in 500 dollars of her commission and the buyer's realtor is going to kick in 500 dollars of her commission. We are going to kick in 500 and see if he will take 1500.
The buyer's realtor is really upset. She doesn't think he will even take this offer. From what I understand, there is also a worry that he might pull more stuff at closing. We agreed on a selling price and it was 10,000 more that what his initial offer was. So i think he is going to get us this way and get down to his first number. We also agreed to his quick closing date which is making it really hard for us.
Can a buyer ask for more money at closing? Is there anyway we can put something in writing that can stop him from doing that? We thought about asking him to increase his hand money...so he won't walk. From what I understand ...even the 3000 may not make him happy. I don't want to get into a contract situation on our new house and go to closing and be at his mercy. How much more is he allowed to ask at closing?
I feel bad that the agents are kicking in their commission. They are both frustrated...Is it really going to be their commission or will their agency cover it for them?
We haven't found our own home yet. We are trying. We put in an offer for a house and haven't heard anything. We have another option..but I don't know if they can close at the end of November either.
So what do you do? I know the buyer's have control here. But I just can't keep giving this guy stuff...
I don't believe a buyer can change the deal at closing or even close to that date, once the terms of the contract are met and contingentcy removed for inspection and repairs that's pretty much the end of dealing as far as I know.
The one big thing you have in your favor is their need to quick close! I'm sure they are in the middle of planning/scheduling the move and would get hosed up if it fell through as well so you need to keep that in mind and so do they. Maybe their agent needs to remind them that if this goes south they aren't moving either and what's that worth?
Take a look at the things that you can't do that are left on the list. What are they and how much will they cost. Look in your area craigslist and see if you can find people who will do the work for a discounted amount. Then, get quotes from all of them and give that to the buyer to show that the work can be done for the amount you are offering. If part of it is coming from the agent then he should be reasonable enough to see that you don't have the money yourself to do it.
I know you want to sell your house, but you can always tell this guy to take a hike. I don't know the wording on your contract, but "favorable inspection" does not, not, NOT include most of the things your buyer is demanding. Do what you are comfortable with and nothing more. If this buyer walks away there will be another.
It's so unbelievable that anyone would even consider not buying a home over $3,000. What is that about??? I mean if it were perhaps $10,000 or more maybe..but $3,000? We had a buyer that did sort of the same thing---we told him that was our bottom line..period! He still bought the house. Give me a break. Of course the real estate market wasn't as bad as it is now either, but still.
Do not tell the guy to take a hike. This is crazy advice. Do not let your pride get in the way and figure out a way to get the deal done, period.
All you people who are advocating this, don't you know how hard it is to sell today??
Its not like there are multiple offers. Think of the situation before you advocate this.
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