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We noticed a new listing online and made a call to the realtor to see the house. The realtor asked a couple of normal questions like are you pre approved (we are cash payers), when can you close (a.s.a.p as the home inspection comes back okay), do you have a buyers agent (no).
The realtor (her suggestion) wanted to meet today in the afternoon and we made an appointment for 4 pm, and would call today to confirm it (she would call either way). Than she asked if we could come in the morning since 2 other realtors would show the house and she expected an offer to come out of one of them. We told her that we rather wait to come in the afternoon to give the other realtors time and we are fast in making a decision and if we like it we will make an offer.
Since I had a meeting this morning in a place where cell phones had to be turned off, I ddin't know if she had called but didn't see a missed call or a voice mail. I txt her and later at 3.15 pm called and left a message to see what was going on. She just returned my call stating that an offer was excepted this afternoon by the seller and the closing was scheduled for Sept. 30th. Good news for the seller, but is this the in the best interest of the seller.
My question is would it be better if the seller would have been notified that a cash buyer was scheduled to see the house and who is able to close a.s.a.p. without needing a mortgage. The people who are going under contract need a mortgage, so I wonder if the seller even was told that a cash buyer was interested.
For us it doesn't matter since it is a business deal and there will be more houses on the market that could be nice deals. We have bought many before and always decided fast and didn't see many we didn't buy...not to waste our or the seller or realtors time.
I just wonder if the seller is aware of a cash buyer being interested, specially after being asked if we could close fast, which we stated we can.
This is not a short sale but some one who wants to get rid of a house which is maintained very well on a top location and who wants to move out of State, a.s.a.p.
If the offer was good, in this market, I take a bird in hand rather than two birds in the tree any day.
She may have told her sellers, I have other parties that want to see the property, they say they are "cash" buyers, but I have no proof. If we wait, we risk jeopardizing the deal on the table. Your decision..... And if the seller was eager, their decision was to move forward the bird in hand.
If they had waited, and you looked and decided it didn't work for you, or you really aren't a cash buyer (folks sometimes tell untruths), and the other party rescinded their offer.... than the seller could have been stuck for months longer. See the other side?
We noticed a new listing online and made a call to the realtor to see the house. The realtor asked a couple of normal questions like are you pre approved (we are cash payers), when can you close (a.s.a.p as the home inspection comes back okay), do you have a buyers agent (no).
The realtor (her suggestion) wanted to meet today in the afternoon and we made an appointment for 4 pm, and would call today to confirm it (she would call either way). Than she asked if we could come in the morning since 2 other realtors would show the house and she expected an offer to come out of one of them. We told her that we rather wait to come in the afternoon to give the other realtors time and we are fast in making a decision and if we like it we will make an offer.
Since I had a meeting this morning in a place where cell phones had to be turned off, I ddin't know if she had called but didn't see a missed call or a voice mail. I txt her and later at 3.15 pm called and left a message to see what was going on. She just returned my call stating that an offer was excepted this afternoon by the seller and the closing was scheduled for Sept. 30th. Good news for the seller, but is this the in the best interest of the seller.
My question is would it be better if the seller would have been notified that a cash buyer was scheduled to see the house and who is able to close a.s.a.p. without needing a mortgage. The people who are going under contract need a mortgage, so I wonder if the seller even was told that a cash buyer was interested.
For us it doesn't matter since it is a business deal and there will be more houses on the market that could be nice deals. We have bought many before and always decided fast and didn't see many we didn't buy...not to waste our or the seller or realtors time.
I just wonder if the seller is aware of a cash buyer being interested, specially after being asked if we could close fast, which we stated we can.
This is not a short sale but some one who wants to get rid of a house which is maintained very well on a top location and who wants to move out of State, a.s.a.p.
Two things. First of all, I'm not sure why you don't have a buyers agent but working with the sellers agent is ripe for problems. If you do this professionally, it would seem to me that you are your own buyers agent or have someone working for you.
Second, you said that the agent was expecting an offer. You didn't say that the owners signed a sale agreement. Those are two different things. You can still tour the house and make an offer even if an offer is expected.
It may be that the original offer had a short acceptance time frame. You are just assuming that they didn't know about you. They may have had a really strong offer with a good price and went for it.
Sometimes people assume something sinister or unethical is occuring. Sellers and buyers are capable of making their own choices, even when it wasn't what you would have done.
Odd... you would think a realtor would love to entertain a bidding war for their client? Something stinks!
I was thinking the same. We had a bankowned property in a nice community in a street across from a proeprty I own. I didn't know about the property and when I called it was the last day of making offers and I didn't have time to go and check out the place so i let it go.
Later I spoke with a realtor who told me she had made an offer on the house and was denied because she had to close a month later than the listing agent wanted, but her offer was higher.
Later we find out the property closed at the same time as her offer would have been (could have been delayed), but for way lower (also a mortgage) than what the realtor had offered that I spoke with. She even called the listing agent again (having the phone on speaker) to ask why her offer wasn't excepted since they were closing fo almost $ 15 K below her offer!!! That house closed and to both the realtor and my surprise the buyer was another realtor.
I have a similar feeling about this one, since yesterday afternoon we could have gone and have a look at the house....and I never heard of an offer that has to be excepted within 6 or 8 hours. Yesterday there wasn't an offer but she expected it this morning.
For the person who claimed I don't want to work with a buyers agent....as long as we feel we don't need to we don't and so far we have done a great job ourself and the listing agent had more commission so why should the prof. involved complain about it. We pay cash and and we can proof it, just one call to our premier banking manager and she can provide info, I understand that people lie...but in this case I think the seller isn't aware of a cash buyer and I rather not write down what I think could be going on , but it is similar to what the other realtor who had made the higher offer told me happens in some cases.
I'm not disappointed because for us this is business and not a home we wanted to move to, but I really doubt if this is handled in the best interest of the seller by this realtor from a National broker's company. C B.
If the Seller received an acceptable offer within their target range, with good bona fides, why would they wait to see what another buyer might decide to bring?
Why would they wait to see if the next appointment was even kept?
While the Seller is stalling, the Buyer has more time to think.
I have even heard that it may be a Buyers' market.
A smart Seller gets a solid contract, and goes from there.
Sometimes you just take the money and run.
I wish I had a dollar for all the offers that were promised to come in "real soon." It is a BS ploy that too many buyers and agents use.
I would likely have counseled the Buyer to take an acceptable offer with documented bona fides before it came off the table.
For the person who claimed I don't want to work with a buyers agent....as long as we feel we don't need to we don't and so far we have done a great job ourself and the listing agent had more commission so why should the prof. involved complain about it.
I could care less whether you work with a buyers agent or not. I know a lot of people that can buy homes without using a real estate agent. But - I'd tell people that are uncomfortable buying on their own to use a buyers agent and people that are comfortable on their own to get a real estate license and be their own buyers agent so you get the commission.
But hiring the listing agent to be both the buyer and seller real estate agent is dumb because they get the full commission and haven't done the full work of a regular buyers agent.
If the offer was good, in this market, I take a bird in hand rather than two birds in the tree any day.
She may have told her sellers, I have other parties that want to see the property, they say they are "cash" buyers, but I have no proof. If we wait, we risk jeopardizing the deal on the table. Your decision..... And if the seller was eager, their decision was to move forward the bird in hand.
If they had waited, and you looked and decided it didn't work for you, or you really aren't a cash buyer (folks sometimes tell untruths), and the other party rescinded their offer.... than the seller could have been stuck for months longer. See the other side?
Shelly
Agreed.
Quote:
Originally Posted by tamitrail
How do you know the seller wasn't informed?
If I had an acceptable offer, I would not be waiting for someone else, especially with the chance of alienating the first buyer.
Agreed.
Quote:
Originally Posted by Silverfall
It may be that the original offer had a short acceptance time frame. You are just assuming that they didn't know about you. They may have had a really strong offer with a good price and went for it.
Sometimes people assume something sinister or unethical is occuring. Sellers and buyers are capable of making their own choices, even when it wasn't what you would have done.
Agreed.
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