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" THANKS SO MUCH FOR YOUR OFFER..." but why don't you call me when you get SERIOUS

No matter how long I am in this industry, and no matter how many insults I hear---I still remain apalled when someone has the audacity to make the offer I heard today accompanied by an ignorant statement.

My mother and father own a lovely 8+ acre parcel complete with a 3 stall barn, fenced in corral, a couple other small outbuildings, a 3 bdrm,1.5 ba with 2 car attached garage and 2 full walk outs with a covered deck outside the dining area. Here is a virtual tour I am quite proud of that captured their property in its glory, nearly 1 year ago just as they moved into the home they are in now.

Breathtaking View -8+Acres ONLY 189,000.00

http://www.visualtour.com/show.asp?T=1148292

Suffice it to say that mom and dad cannot keep up with the extensive gardens/shared with many a weed at this time, BUT all in all; its kept up. The view from the deck seems to reach as far as the eye can possibly take you. Its priced competitively, and except for the decor, needs only YOUR STOVE and FRIDGE; Dad maintains the mechanicals and such impeccably. The kitchen has wood laminate floors and new oak cabinets. IF we were not 95 min away? We would buy it and rent it out; but its impossible to effectively manage the property (as most of you know) from that distance. "One" could even rent out the stalls (and there is room for 3 more) and have that defray the mortgage, right?

When mom and dad listed it nearly a year ago; sadly they made a wrong choice in agents. After I got through my (hissy) because they chose another realtor over their daughter LOL--I came to respect the fact that their loyalty was admirable as they chose a realtor that had represented them for a long time (and way before I became an agent/broker) Sadly she ended up being a wrong choice, she neglected the listing, did nothing to get it sold; and after wasting the prime time selling season here in Illinois; it was uncovered that she was very ill; (just yesterday was put in an assisted living/care hospital) and so her neglect of their property was explained. Nonetheless, our short window of PRIME opportunity came and went last year and then our very very long winter. A month or so ago, Mom really wanted and trusted ME to list and "git er done" so the line goes; but with great care and love and worry over Mom and Dads BEST needs; I sacrificed the listing to an agent that lives and thrives right there where the property is. She is (by all accounts thus far) a very hard working, qualified agent that seems to be taking gentle, good care of Mom and Dads needs.

Suddenly there is activity, showings, phone calls YEA....action is beginning and last evening their agent called to advise them that SHE received notice of an offer coming in (from someone in Texas) by end of this week. GREAT! Mom called as she left the hospital today (her and Dads health is not good right now) and she says: "are you sitting down?" YES, I replied; "we got the offer..." YES? Here is what was presented to us: (well Mom and Dad)

" I am looking to move to this area and am offering $50,000.00 cash down with a total offer of: $110,000.00. I don't want the home, I plan on making this a hunting club and will tear the home down and rebuild so its of no use to me" "PLEASE be sure to get a counter offer from your clients"

The property is listed at: 188,000.00. I replied: ????????????????????????????????????????????????????

After I shook my head in disgust, I told mom ; this would be my reply " "Thanks for the offer, but I cannot dignify this with a counter. When you get serious? Call us"

Instead Dad countered with: 180,000.00. YOUR SERVE MR BUYER (I can't wait to see what happens next!) Any bets?

Moral to this story: Don't ASSUME anything buyers, and its generally NOT a good idea to insult a seller. Just because we are in a period of adjustment in real estate; does NOT mean that sellers are going to give away the store. SERIOUSLY , somedays I think I DO SEE a light shade of "BLUE" when I look in the mirror from repeating this theory over and over again ha-ha-ha

Have a beautiful day at home and here on ActiveRain

Patti Puckett

Broker/Realtor/Investor/Independent Student Advisor for Nouveau Riche

Posted by Patti A Puckett on 05/15/2008 02:32 PM

Comments (9)

industry, real estate, insults, audacity, offer, parcel, barn, corral, outbuildings, attached garage, garage, deck, dining area, virtual tour, property

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9 Comments on " THANKS SO MUCH FOR YOUR OFFER..." but why don't you call me when you get SERIOUS

I tell my clients to never take a low ball offer as an insult. You did the right thing with the counter offer and now you wait and see if the buyer is serious or whether they were just looking for someone to roll over. If all they want is a hunting club then why aren't they buying land? Who can figure the logic out sometimes.

05/15/2008 02:39 PM

by Cindy Jones-Northern Virginia Real Estate & Military Relocation Services (RE/MAX Allegiance #1 RE/MAX Company in the World)

Some people will only buy what they can steal. Just one of those time to move on things.

05/15/2008 02:39 PM

by Team DiMuria, Katy Texas Realtors (Prudential Gary Greene Realtors)

I don't see what is ignorant or insulting about the Buyer's statement. Obviously, I can't know the value of the home, but can assume - since it's been on the market so long - that it's over priced. We all know that list prices and initial offers are starting points. Your dad did the right thing by countering where he was comfortable. It sounds like you have some emotional stake in the property, and should't assume anything about the Buyer. I sold a listing one time for 47% of list price. The Seller was out of state, with no mortgage, and wanted rid of the headache, so he took the first offer that came along. He was happy and the Buyer was happy. That's all that matters.

05/15/2008 02:52 PM

by Anthony Clark (AMA Real Estate Group, Inc.)

Appreciate your opinion Anthony; I shared the road that their journey began on last year in the hopes that whomever was reading this understood the REAL probability of WHY it hasn't sold yet? Perhaps you missed that part (sometimes I do have a way of "spending too many words" in a description)

Suffice it to you; YOU MIGHT be correct in assuming I have an emotional stake; BUT you aren't. I pride myself on detachment; and since I am not representing them, another agent IS; I am very confident and comfortable that the market analysis that I derived was DITTOED by their current agent representing them. They have zero emotional attachment to the situation.

The ignorant statement I was referring to is: that the buyer states (he) wants nothing to do with the home, blah blah blah and will tear it down blah blah blah To which I reply: SO?????

Do I care what he is planning to do with the property after he purchases it? NOPE; not my concern. However what is my concern is that my mother and father have a good property that comes with a nice home that is priced fairly (according to todays standards)

I completely understand your transaction that you had; and I, too have experienced such situations; but that is not the case here

05/15/2008 03:04 PM

by Patti A Puckett (Broker Associate/Realtor/ISA with Nouveau Riche)

Patti Again, I'm at a huge disadvantage because I don't know average days on market or what value the comps support. However, those things aside aside the home is still sitting on the market. More often then not that is evidence of being overpriced, even more often then lack of exposure or any other factor. You say you're not emotionally attached, but "Here is a virtual tour I am quite proud of that captured their property in its glory," "Here is what was presented to us: (well Mom and Dad)," and "After I shook my head in disgust" all suggest otherwise. It's fine if you're emotionally attached, after all it is your parents' home, but you need to understand that it may skew your opinions as a real estate professional. Although the motivation of the Buyer is completely useless information to your parents (motivation does not affect fair market value), that doesn't make it insulting or ignorant - just useless. Again, it sounds like your dad has a good head on his shoulders, and it's a good thing that he countered. I believe every offer deserves a response.

05/15/2008 04:22 PM

by Anthony Clark (AMA Real Estate Group, Inc.)

I think as an investor wanting to build a gun club, they were just thinking of the numbers and not the family. Don't be insulted too much, investors will be investors and they think numbers only and how much it will cost to tear down the house for their purpose. Their job is to find out how low you really will go!

05/17/2008 01:41 AM

by Todd Clark (Realtor), GRI (Washington Co, Beaverton, Oregon) (Kastings & Associates, Oregon)

A friend and Realtor calls these 'Nuisance Offers' ... I'm not sure if it's an industry term or not... Either way, he told a story of a Realtor who got his license just to put in these lowball Nuisance Offers on any property he thought worthwhile in the area. After submitting about 35 of these offers, he got one seller to bite. A bit of work for a good I think Todd is right on the money... the investor saw this as a bare land purchase and was looking for a deal.

05/18/2008 11:29 AM

by Sara Goodwin - Portland, Oregon Appraiser (Ashcroft & Associates)

OMG...Sounds like what happened to me on a listing at $164,900 we received an offer of $100,000.00....lol...its everywhere!!! These buyers "really loved the house"...yeah it showed by their offer....

05/18/2008 12:46 PM

by Kelly Shoemaker Realtor Broken Arrow, OK (Coldwell Banker SELECT)

Kelly, thanks so much for sharing. Amazingly MOST posts have been in agreeance to the way I felt about it; a few were pretty hard on me; BUT OH WELL

At first I found myself getting "sucked into the arguing" then I stepped back and thought: I think YOU just like to argue! Then I let it go

How is real estate faring in Oklahoma? Gosh I haven't been through there in about 8 years; where is Broken Arrow near? Curious

Again; thank so much for stopping in to share GEEZ--64,900.00 LESS? RIGHT; they really did LOVE THE HOME LOL

05/19/2008 09:50 PM

by Patti A Puckett (Broker Associate/Realtor/ISA with Nouveau Riche)

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