Thread: $2000 Difference, seller refuses to budge. Loses Buyer and complains!

In Kentucky the same law applies. All offers must be presented to the seller.

They can be written on a napkin with illegible writing and a big finger for a signature - it doesn't matter. It has to be presented to the seller to make the decision.

You have two Realtors ann one Loan Officer that all
are going to lose a payday. Include the Seller and now
you have FOUR people that have a dog in this fight.
Each eats $500! The deal is done!
I am in upstate New York and we would never let a
deal die for $2,000. Deals are getting harder and
harder to come by in this age of tight liquidity.
It is a lot easier to have 4 people eat $500 than to have
those 4 people go out and find a new deal. Once you
have an "almost" deal, there is no excuse to let it
die. This will separate the men and women from the boys
and girls!

Man;

In this market, being that stubborn..... that is a tough one to swallow. I have some houses in sunny S.F on the water and would not be that stubborn if any buyers are lined up. Will also give a small equity piece if the deal goes through. Would also consider seller financing with small down.

PM me with any leads.

Originally Posted by realestatefla1

How many times have you heard that before? A stubborn seller, who attempts to outfox the buyer, only to have the buyer walk away in utter disgust and move to another home?
I thought I`ve seen it all until yesterday afternoon. We`re in the midst of negotiating a Single Family home in Silver Springs Florida with another agent. The asking price on the home was $193,000. Our buyer offered based on the comps in the area a very fair and reasonable price of $184,500.
We already have a loan commitment in hand, can close in less than 30 days and what we thought was a "No Brainer" turned out to be a "No Win Situation" and hopeless!
We sent the offer in on Thursday, the agent acknowledged the offer and before speaking to the seller, started by telling us that the seller won`t budge under $188,000!
She claimed the seller wasn`t in any hurry to sell and would only sell at that price. Famous last words, right!?? We have a habit of telling other agents just to present our offer and let the seller decide.
My belief is that sometimes agents in general, don`t realize that "Speaking for a Seller" especially when an offer arrives isn`t "good business".
I aways want the sellers to decide what they want, not what I want! I explained to the other agent that this offer is a great offer and not presenting it wouldn`t be advantageous to her client! She agreed and called us two hours later!

Agent: I`m sorry, although you have a generous offer, my seller is firm on her price of $188,000. She won`t lower her price. She feels she can wait the market out!
Me: Did you explain to her that normally the first offer is usually the best offer, in this case, it appears the home has been on the market for 100 days, is she serious about selling?
Agent: Very. We both feel that she`ll eventually locate a buyer who understands "How Beautiful" this home is! Under Selling a home isn`t what I promised her when i took the listing!
Me: So you`re stuck at one price and that`s it? What if we get the buyer to come up to $186,000. Would the seller find it in her heart to part with her home?
Agent: Again, I don`t believe she will.
I`m stubborn, I hate to hear things from agents that form an opinion without consulting their client. It`s a major sign that an agent isn`t looking out for the interest of their client, they`re looking at their own pocket!
I call the buyer, explain the situation and the buyer agrees that $186,000 is our final offer! I`m with the buyer that a home that`s been on the market for 100 days isn`t going anywhere so fast,either the seller is willing to sell with a difference of $2000 or we just move on!
Me:We faxed the changes that now reflect $186,000. All other terms and conditions remain the same. How fast can you get the seller to sign off on this offer?
Agent: $186,000? I guess you didn`t hear me.
Me:Oh, I heard you loud and clear, our offer is firm! Can we cease playing games now? We have a loan commitment, the home can be closed very quickly and quite frankly with a $2000 difference in price, we`re being ridiculous to say the least!
Agent: I`ll get back to you!
I call our buyer, and the buyer is very upset that the seller and agent aren`t cooperating! I explain that sometimes sellers like to play "hardball", I`m positive that they`ll relent with our offer and agree to sign. One hour later the agent calls, again, she tells me the seller refuses our offer!
This time i`m mad! I tell the other agent that we`re done if the seller isn`t accepting the offer we`re going to have the buyer rescind the offer and stop playing games.
I offer to pitch in $500 of our commission to make the seller feel better if that will help!
Agent: You and the buyer will have to find another home, there isn`t anything on the market that matches the "Beauty of my listing".
Me: I guess you and your seller will sit on the home another 100 days. Good Luck!
Agent: You mean you won`t counter offer?
Me: I`ve been trying to tell you that our offer is firm! We`re done! Our buyer is very upset...
Agent: You`ll have to do better, you can do it...
The seller`s agent sounded more like "Mother Hen" as she hung up on me. I realized now that there wasn't any hope in closing this. The buyer agreed and we faxed a rescind letter, pulling our counter offer,essentially waving Good Bye to the seller and "Mother Hen".
At 7:00pm, I received another call from "Mother Hen". This time she`s very sweet and kind to me..
Mother Hen: Why is it so hard to get your buyer to agree to paying the extra $2000 that we requested?
Me:The buyer wanted the house, she still does, but in our business we compromise. I guess your seller should understand that!
Mother Hen: It`s your loss, you do realize this.....My seller feels that you and your buyer are cheating her!

I`ve been involved in 1000`s of transactions thoughout my career,never have I been told we`re "cheating a seller" out of $2000!
I do hope that eventually the seller figures out that her Realtor was the only one that cheated her, out of a sale!