Seller wants more money (contingent, appraised, accept, percent)
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I would walk away, telling my realtor to find another house for me, preferably one that is priced lower than appraisal.
Or, make a counter offer; "We are willing to pay the appraised price, not a penny more, as determined by OUR appraiser!"
I won't play such "bidding war" games, except at a live auction.
We don't have appraisal. but both agents said it will not appraise, they estimated 40k low, off course it can be lower or higher.
But even without appraisal, we can easily to see for what price other houses were sold in past 6 months.
if both agents say it's overpriced, and the comps show that, then why are you offering a nickel more than market value?
If I *really* like the car you're driving, and I decide to offer you way more than market value, just cause yours is really nice & I don't feel like shopping for my own.. I'm not going to be "offended" that you wouldn't take my money.. I'll laugh at you for being an idiot & spend my money elsewhere..
But we agreed to pay asking price because we like the house.
We put our offer yesterday .
But now sellers agent is saying he has someone else willing to pay more (he didn't say he got offer).
That agent (sellers agent) knows we like the house and we even told him (maybe our mistake) that we want this house badly.
What is going on? We just feel they want more money and we don't think they have anyone else offering that price (similar homes are selling for 320-330k but without upgrades,thats 60-70k less then what we offered to him.).
My agent is sayin we should offer more and now I think he is on other side instead on my side.
But my biggest question is - Can sellers agent rise the price for no reason? (without having other offer).
I know few thousand of $ means nothing to sellers agent. (percentage of commission is low).
Is it possible that sellers agent spoke to his client and after telling him how badly we want the house they decided to even rise the price?
You're nuts for offering $40k more than going rate. Sure the seller could of gotten greedy which is most likely the issue and he could have another buyer. The thing to remember is that if you pay that extra 10k you'll always resent it. As long a you live there and probably beyond. Because that is the I squeezed you for all you're worth. I would be prepared to walk and I would resubmit the offer for 10k less than your last offer. If he says no let himself to that "other" buyer.
But we agreed to pay asking price because we like the house.
We put our offer yesterday .
But now sellers agent is saying he has someone else willing to pay more (he didn't say he got offer).
That agent (sellers agent) knows we like the house and we even told him (maybe our mistake) that we want this house badly.
What is going on? We just feel they want more money and we don't think they have anyone else offering that price (similar homes are selling for 320-330k but without upgrades,thats 60-70k less then what we offered to him.).
My agent is sayin we should offer more and now I think he is on other side instead on my side.
But my biggest question is - Can sellers agent rise the price for no reason? (without having other offer).
I know few thousand of $ means nothing to sellers agent. (percentage of commission is low).
Is it possible that sellers agent spoke to his client and after telling him how badly we want the house they decided to even rise the price?
Don't offer more it's only appraised at $350K they already think you are a fool, no one else if going to offer what you do, offer the $350 and walk away, they will be calling your agent back.
A lot of times unless they are all cash buyers offering more than the appraised value, these type buyers don't even get financed. Happens all the time.
Personally, if it were me I would knock on the sellers door and have an honest talk. I would also figure out a fair price based on comps. I would also have a competent real-estate lawyer ready to help close a deal. You have already invested time and energy into this, what is the worse that can happen.
We like the house and to tell the truth we didn't know at that time about other houses (sold ones).
We are new in this area and we trusted our agent.
Only after they asked us to rise our offer we started to look other (sold) houses.
But even then we would pay what we offered them. But probably we would regret that in future.
Walk away. From both the house AND this "trusted" agent.
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