Do you only have one shot in making an offer if there's no counter? (property, contract)
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Not sure what you are trying to achieve with this post. Are you just stating that you are not one of those who take things too personally (congratulations but I wasn't talking about you) or are you challenging my assertion that there are people who do? I'm not trying to pick a fight with you but I don't understand why you would respond directly to my comment by saying that it doesn't describe your personal opinion.
Oh, I didn't mean you took things personally, I meant I didn't understand why a seller would be insulted. I know some sellers do not keep things business like, but I'm sure most would.
This may be a stupid question but I'll ask anyway.
Let's say you make an offer. And it seems too low to the seller. If they don't counter, once the offer expires, can you make a second offer that's higher?
Once when I was selling a very low ball offer came in..I had my realtor tell them that it was too low to consider a reasonable offer..I could have started the back & forth countering but decided I wanted a higher number to begin that process..
It worked and they sent another offer that was much closer and then we began the back & forth...
Once when I was selling a very low ball offer came in..I had my realtor tell them that it was too low to consider a reasonable offer..I could have started the back & forth countering but decided I wanted a higher number to begin that process..
It worked and they sent another offer that was much closer and then we began the back & forth...
This seems to be my case also.I received a low ball offer and counter saying I wanted a higher number to begin discussions but haven't a response for almost a week.Any advice of how long to wait?
anyone who doesn't reply in a couple days isn't serious. plenty of people go fishing for desperate sellers to see if they'll bite.
also, real estate agents really slow the process down and get in the way, so you need to factor that in a bit if they're involved.
for example, i put together an loi yesterday morning, sent it off directly to the seller.
we went back and forth a couple times, pretty much reached a consensus on price, and have a face-to-face meeting on monday in his office. the whole process: a couple hours and a few emails.
if agents were involved, this would have taken around two weeks. communications would have been distorted. childish games would have been played. etc.
protip: cut the middle man.
Any suggestions of how to do that?we do have an agent involved as a double one for me and the buyer.
I think you can have your counter offer have an expiration date. If we sell our home I will put in a 48 or 72 hour deadline and then have the counter offer taken back. We wasted so much time with our last buyer, and a week feels like such a long time. Their realtor thought he would get a better deal if he stalled. He was wrong. We would have rented the home out if we hadn't of gotten our price.
Thanks for the replies!
Even though the offer was 30% below the asking price I countered in 48hrs saying raise your initial offer so that we can start discussions. I will be happy enough with 15% reduction........but six days and no response from the buyer.....
Never have the same agent for both buyer and seller, there is no way an agent can fulfill a fiducary relationship with both of you.
Amen and amen again!
Quote:
Originally Posted by qwerty07
Thanks for the replies!
Even though the offer was 30% below the asking price I countered in 48hrs saying raise your initial offer so that we can start discussions. I will be happy enough with 15% reduction........but six days and no response from the buyer.....
So the buyer most likely cannot afford to go higher.
Never have the same agent for both buyer and seller, there is no way an agent can fulfill a fiducary relationship with both of you.
Although I agree 100% with your statement, it presupposes that a fiduciary relationship is the only one that is allowable or desirable. In Florida, for example, agents are mostly "transaction" agents and a transaction agent can handle both sides by having an obligation to serve each side without doing anything that works to the detriment of the other. We work to get the deal done to the satisfaction of both sides which, if you think about it, is the goal anyway.
I understand why some people want to have a full fiduciary relationship with their agent, and we can do that, too, (not handling both sides of course) but most people don't realize that it works both ways and, since that agent works for you rather than with you, you are then responsible for (and liable for) everything wrong that agent might say or do.
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