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This thread goes on and on, but the basic facts of real estate contracts is often being overlooked.
1: Buyer makes an offer via a contract, for the seller to accept, reject, or counter.
2: Seller either accepts, rejects or counters the offer.
3: If at a later date, the buyer wants to counter, or change the offer, such as OP did, the seller can accept, reject or change the offer. The seller is not required to accept or negotiate a request to change the contract. If they reject the changes, there is no valid offer under consideration and the contract is now null and void.
4: The Realtors involved are not ones that are making the final decision. All they can do is explain the wishes of the seller or buyer, and give them advice.
As the seller had already told their agent, they would not accept any changes before the buyers request to change the contract, before the change request was submitted, the OP should understand the seller would not accept their changes to the contract.
In the hot market conditions today, seller has set their bottom dollar, and if the OP does not close, they will probably get a higher net than the current contract shortly. In fact in today's market, the seller may have one or two better more profitable contracts waiting for the OPs contract to be cancelled and the seller is happy it is cancelled.
In other words, seller had no obligation unless explicitly stated. In this case, the seller's agent even made it clear there was no room for negotiations.
I will say that I’m shocked at the willingness of professional realtors to engage in petty insults and unfounded slandering just because they’re getting a kick out of the gang mentality that has evolved out of this thread. I do hope your clients can read each and every one of your comments, not only the tone but the substance of some of your responses as it may relate to protecting their interests. I don’t think I’d be inclined to hire realtor that told me, “When we find you a house, take it leave it. No negotiations. We realtors don’t do that anymore.”
Last edited by Cubby60611; 03-17-2021 at 11:53 AM..
Let me try and make this easier. You have a used car you want to sell. Mary approaches you and says she'll buy it for $10k, but only if you pay to get the scratches out. You are NOT a jerk if you choose to not make the repairs and choose not to sell to Mary. Now, if you don't have another person lined up to buy the car, you may be acting unwise by doing that, but not being a jerk, at all. But, if you have 10 other people interested in the car, you are not only not being a jerk, you are also making a wise choice.
The process of buying a home bears little resemblance to used car shopping. The sums of money involved are far greater. The structure of the transaction is much different typically too. The opportunity cost is different. It's comparing Apples to Orchards.
The process of buying a home bears little resemblance to used car shopping. The sums of money involved are far greater. The structure of the transaction is much different typically too. The opportunity cost is different. It's comparing Apples to Orchards.
And they both need water to grow. The underlying principle that was being compared applies to both - that a voluntary transaction between seller and buyer requires the consent of both parties. A seller is entitled to ask whatever price they want and does not have to reduce the price (make repairs or give repair credits). A buyer is entitled to offer any price they want or to ask for any discount they want in any form they want. If the two parties cannot reach an agreement, the transaction doesn't happen.
I will say that I’m shocked at the willingness of professional realtors to engage in petty insults and unfounded slandering just because they’re getting a kick out of the gang mentality that has evolved out of this thread. I do hope your clients can read each and every one of your comments, not only the tone but the substance of some of your responses as it may relate to protecting their interests. I don’t think I’d be inclined to hire realtor that told me, “When we find you a house, take it leave it. No negotiations. We realtors don’t do that anymore.”
People are making fun of your continued sense of incredulity that the sellers exercise their rights as written in the contract, even if it is very uncommon for them to do so.
A Realtor's job in representing a client isn't to maintain the tint of the rose colored glasses. It's to accurately educate their client's on the reality of the situation. It isn't "no negotiations, we don't do that anymore," it's "this is a very hot market and we need to be prepared at the time of the offer for sellers being unwilling to budge much," especially on things that are visible at the time of an offer (as opposed to something that isn't readily apparent til inspection.)
If my Realtor tells me that he's going to be a ruthless negotiator on my behalf, and deals go sour, I'd rightly question his professional competence.
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