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What the OP will not/cannot accept, is that all real estate transactions will not be negotiated. especially after offer is written and signed both sides. He seems to be under the mistaken impression all buyers and sellers will negotiate after an offer is made. He also seems to believe it is the duty of the agents to force the seller to negotiate.
He is wrong in all these beliefs. This is especially true in hot markets, where if the offer goes under, some one will pay as much or often more with no adjustments for things the buyer wants changed.
I have a 28 y.o. furnace and AC unit split system.
And, a 17 y.o. packaged unit, heat/AC.
The age is easy to see. If someone negotiated a price with me and then tried to pump me for a few bucks because they are "dying" and "on their last legs," despite no operational or age-related malfunctions, and without giving me a report from a licensed HVAC tech, I could easily explain the concept of "Pounding Sand" to them.
To be fair, an inspector is almost certain to write up a 28 yr old furnace as "at the end of it's useful life. Further evaluation recommended." If your hypothetical buyer's agent had not prepared the buyer for this eventuality, they might be like the OP and walk from the contract when you refuse to dance.
Agents, manage your clients' expectations. That's part of your job and it pays benefits.
To be fair, an inspector is almost certain to write up a 28 yr old furnace as "at the end of it's useful life. Further evaluation recommended." If your hypothetical buyer's agent had not prepared the buyer for this eventuality, they might be like the OP and walk from the contract when you refuse to dance.
Agents, manage your clients' expectations. That's part of your job and it pays benefits.
Oh, trust me to recognize that many buyers agents are not competent. I just don't like to make that my problem.
OP did ALL the work, but couldn't close the deal.
Not unusual. Not at all.
I mean the seller even said "I'm not giving any concessions" and the OP is still upset. This is laughable. I bought a home last year and went through a couple of moments where I thought I wasn't being treated fairly. Guess what? I walked. They sold to someone else, I bought from someone else. Lawyers? Please. Get a life.
I mean the seller even said "I'm not giving any concessions" and the OP is still upset. This is laughable. I bought a home last year and went through a couple of moments where I thought I wasn't being treated fairly. Guess what? I walked. They sold to someone else, I bought from someone else. Lawyers? Please. Get a life.
Agreed. I read the OP and first couple pages of responses. I'm sure it has been stated somewhere in this thread but I'll say it again...the buyer seems very entitled. A home sale/purchase is not a one-way deal. And in this market, leverage leans significantly towards the seller.
Agreed. I read the OP and first couple pages of responses. I'm sure it has been stated somewhere in this thread but I'll say it again...the buyer seems very entitled. A home sale/purchase is not a one-way deal. And in this market, leverage leans significantly towards the seller.
I clicked on the thread wanting to defend OP honestly. But, sounds like the seller is pretty reasonable in a seller's market. I think he probably has a few other offers. Poop or get off the pot OP.
The seller’s agent told my agent, before the inspection was even complete, “I hope your client isn’t expecting any credits after the inspection. If he doesn’t plan to pay full price, we’re moving on to another offer.” She didn’t even wait for me to say if I would request a credit. How is that not being bullied and pressured? It’s also not negotiating in good faith, to lead a buyer on through the inspection process only to drop the “as is” label once the process is well underway. I would never enter into an “as is” purchase if that was disclosed up front. If this is the new norm, can’t wait for the litigation that comes out of this.
Litigation? For what? The seller accepted your offer which was contingent on inspection. Nothing states the seller has to fix or to offer money back, that is part of the later negotiations. The only thing an inspection does is give the buyer a legal out to get their money back. Get over yourself. Most likely the buyers had other offers, perhaps one even more than yours but they accepted yours due to the ease of not having a bank involved. They will just move on to one of the other offers to see if they are still willing.
Many sellers who sell as is don't even allow inspections; while others might allow inspections but state it only allows you to back out, they won't renegotiate. There are still other sellers who might deal with some issues but when it comes to major items that are still functioning like the heating system they won't. Your option, which you took, is to rescind your offer. That's all you get.
I think the OP is probably wiser now and in a better position for the next home he offers on. Op, is this your first home purchase?
When we bought the house we live in now, it was a buyer's market. This very solid (best builder in the area), 3 year old house on a beautiful acre just sat there. Finally, the seller added a flat screen TV to every room as an incentive.
Fast forward to now, we were thinking of relocating and as such contacted our realtor and had everything ready to go, listing date picked, pics done, etc. He said it would be gone in a day. We literally could find nothing to buy where we wanted to move to because the market is just as hot there. We decided we didn't want to play, so we're staying put.
In another market, your seller would have been advised to replace the furnace, get a new roof, fix the chimney, etc. etc. if he wants to sell. That's just not what we have now. Expect this to be the way it goes, or wait it out. Good luck!
I think the OP is probably wiser now and in a better position for the next home he offers on. Op, is this your first home purchase?
When we bought the house we live in now, it was a buyer's market. This very solid (best builder in the area), 3 year old house on a beautiful acre just sat there. Finally, the seller added a flat screen TV to every room as an incentive.
Fast forward to now, we were thinking of relocating and as such contacted our realtor and had everything ready to go, listing date picked, pics done, etc. He said it would be gone in a day. We literally could find nothing to buy where we wanted to move to because the market is just as hot there. We decided we didn't want to play, so we're staying put.
In another market, your seller would have been advised to replace the furnace, get a new roof, fix the chimney, etc. etc. if he wants to sell. That's just not what we have now. Expect this to be the way it goes, or wait it out. Good luck!
This is a great post!
OP, I feel for you, but I have tried buying in both super and minimally crazy sellers markets. I have felt similar frustrations to you, but I ended up not buying in the craziest of crazy markets. I relocated and easily bought, of course this was before things heated up to where they are now.
Things will eventually workout for you, but I agree with this poster and think you need to wait it out. Take yourself out of the game for a while and de-stress.
C'mon people. Does anyone really think that this thread was worthy of 200 posts?
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