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The OP put in a full price offer. I assume that the price was set by sellers. He offered that price, and now they are backtracking, hoping for more money. I call that greedy, not wanting maximum profit.
You can call it whatever you like but any seller of anything will want to get the highest price possible on what he is selling.
Not sure why you'd put in a full price offer on a place with no other bids or action for the last 60 days. And at full price, if they're still playing hardball, I'd take my money and run away fast to make them regret even the thought of asking for more. That is unless it's the only house out there that's close to what you want. Doesn't even sound like you're in love with it. Give them the finger.
Not sure why you'd put in a full price offer on a place with no other bids or action for the last 60 days. And at full price, if they're still playing hardball, I'd take my money and run away fast to make them regret even the thought of asking for more. That is unless it's the only house out there that's close to what you want. Doesn't even sound like you're in love with it. Give them the finger.
I thought it would be easy and I wanted a transaction where I wasn't messed around.(Haha, that didn't happen!) The place is in an area with relatively low inventory in that range, and it was well priced. The price was reduced once at the 30 day mark. I had actually toured the property twice before I put in an offer as I was deciding between several options. It was right in the middle of what I wanted to spend, and when we went through the comps it seemed pretty reasonable.
But you are right, they missed the boat. And funny thing, for all these offers, the place hasn't yet shown as under contract on the listing...11am was the cutoff, eh? Seems like they are still waffling.
You can call it whatever you like but any seller of anything will want to get the highest price possible on what he is selling.
Of course they want to get as much as they can. I just question their tactics. I would have been totally fine if they countered me. That's normal. But they wasted time and never even responded to the offer. Their agent kept wanting my agent to negotiate without putting anything in writing or even acknowledging that there was an offer pending. And this whole talk of these mysterious other offers came out of nowhere.
The OP put in a full price offer. I assume that the price was set by sellers. He offered that price, and now they are backtracking, hoping for more money. I call that greedy, not wanting maximum profit.
I don't call that greedy. This is all business. Seller wants highest possible price. Buyer wants lowest possible price. Neither one is wrong or greedy.
I don't call that greedy. This is all business. Seller wants highest possible price. Buyer wants lowest possible price. Neither one is wrong or greedy.
Then the seller should have stuck to the original asking price. Or countered my offer. Not wasted my time only to eventually present some tale about these other offers waiting in the wings. Counter, reject, accept, whatever. Just give me the courtesy of a timely response.
The OP put in a full price offer. I assume that the price was set by sellers. He offered that price, and now they are backtracking, hoping for more money. I call that greedy, not wanting maximum profit.
It is a very common strategy to set a low list price to attempt to fan interest and get multiple offers rolling.
I absolutely agree! Seller's loss on this one! As a buyer's agent, I can't stand sellers that pull this crap. I'm glad you have back up options that are just as good.
Quote:
Originally Posted by confusedasusual
Then the seller should have stuck to the original asking price. Or countered my offer. Not wasted my time only to eventually present some tale about these other offers waiting in the wings. Counter, reject, accept, whatever. Just give me the courtesy of a timely response.
It is a very common strategy to set a low list price to attempt to fan interest and get multiple offers rolling.
It is, but honestly, the place was priced right. It will (maybe) sell for a few thousand more than I put in if there are multiple offers because that's what the market will bear. To me, the attitude of the sellers and their agent was really unappealing. I agree with whatever poster said that if they get a bad vibe during any transaction they walk away.
As a seller, is there an advantage to doing this? Seems like it works out great for the buyer, but the seller may become emotional this way.
Some still like to do business the old fashion way and appreciate the extra effort.
My Grandfather was like this and had a loyal following over 50 years in sales... his business card to the day he died had his business and work address including home phone number... this was long before the days of cell phones.
He instilled in me if something is important it is worth the extra effort.
Of course the seller could simply say not interested and close the door... it's never happened to me yet.
I still think the young family I mentioned with twins in tow meeting the sellers made the difference.
As to the original poster... I don't know how much you want the property and at what price.
You've spent time getting it this far and I would hate to see you lose it over a misunderstanding...
It's almost like writing a resume... the smart ones go the distance to make sure their resume gets read.
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