What is going on?? (appraised, mortgage, sale, accept)
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Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,589,038 times
Reputation: 677
I concur with Marmac.
You're trying to buy a house at 85k less than they paid for it 2-3 years ago. That's going to hurt.
Before you say "it's not my problem what they paid for it," well in a way, it is. I know no seller that will go in hock to sell their house, unless they're gazillionaires and can afford to lose 85k.
Personally, at this point I don't think I would make any assumptions about what the seller might or might not have been thinking. My first questions once the property is listed again with the new agent would be:
1. who is making the final decisions on accepting/rejecting/countering offers for the property (the seller in the other country or a person with power of attorney in this country - and is that person located local to the home for sale)?
2. did the person making final decisions ever get your previous offers? And if so, was what you perceived as an expired offer really meant that way or was it maybe a lack of communication between the agent and appropriate person.
I guess it's up to you whether you would want to pursue question #2. For my own clarification of the situation, I would probably ask all these questions plus more. The bottom line is that you can rack your brain trying to figure out why something did or did not happen, but in the end you probably won't figure it out yourself.
You really were coming into this at a very bad time - a week before a firing, an agent change over, relisting. I would expect to see breakdowns of communication, apathy, etc. in a case like this. What did or did not happen could very well have nothing to do with you and everything to do with the messy situation (and maybe ill-feelings) happening among agent 1, agent 2, and seller.
Personally, at this point I don't think I would make any assumptions about what the seller might or might not have been thinking. My first questions once the property is listed again with the new agent would be:
1. who is making the final decisions on accepting/rejecting/countering offers for the property (the seller in the other country or a person with power of attorney in this country - and is that person located local to the home for sale)?
2. did the person making final decisions ever get your previous offers? And if so, was what you perceived as an expired offer really meant that way or was it maybe a lack of communication between the agent and appropriate person.
I guess it's up to you whether you would want to pursue question #2. For my own clarification of the situation, I would probably ask all these questions plus more. The bottom line is that you can rack your brain trying to figure out why something did or did not happen, but in the end you probably won't figure it out yourself.
You really were coming into this at a very bad time - a week before a firing, an agent change over, relisting. I would expect to see breakdowns of communication, apathy, etc. in a case like this. What did or did not happen could very well have nothing to do with you and everything to do with the messy situation (and maybe ill-feelings) happening among agent 1, agent 2, and seller.
This is one of the best postings on there, thanks, what you are saying makes sense. This is my first home purchase and I'm finding it stressful! But what you are stating makes perfect sense and we can do nothing but wait until the new listing agent comes in.
Hopefully this one is not representative of the other unprofessional ones we've met so far in the area.
I personally would wait for the new agent at this point if you have time to wait and still want this house bad enough. Who knows what this new agent will list this house at. If they are any good, then they have also run a CMA and have talked to the seller about it. I would just wait and to see what happens. I have certainly heard of a price drop when listing with a new agent. Besides, after all the dropped balls on the old agents part, do you really want to try and coordinate all the required things to get done to get to closing. You haven't even entered the fun world of home inspection and appraisal after the written contract. JMHO Liz
fianaOO------ comparable homes in that neighborhood are selling for 400-440K , why in the world would you waste your time looking at one priced $35,000-$75,000 higher than what it is worth?
On another thread,there is a topic on low ball offers.
It appears many sellers consider an offer of 15% lower an insult rather than a legitimate offer.
As a seller, if I lowered the price of my house $135,000, and you came along and offered 15% less than my asking price, you would not be hearing from me either.
Apparently I've hit the nerve of a few of these posters. Makes me wonder if they are having a difficult time selling as well.
Yes, they lowered the price of their home 135K. But it was initially priced 110K over what they paid at the height of the market. Do you see the key words- height of the market? We are in a different market now. Different ball game.
And we have a list of sold homes in the area, many sold for 15% below the asking price. We have solid numbers and are well informed about the current market in the area and are basing our decisions on such. These nasty postings on here make me wonder, I was not asking for your feelings, if I made an offer, just curious on people's input, not their attacks.
Anyway, we found out the real problem is because the listing agent is fired as of today and the home will be relisted tomorrow or the day after with the new listing agent and we can go from there.
Thanks to those with the positive and helpful feedback, and the rest, find something better to do with your time.
faina00 - Good luck to you and I do hope you keep us posted as to what happens next. I am very curious what will come about with the new agent.
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