Don't drag your feet...

By
Real Estate Agent with Atlanta Communities 303302
http://actvra.in/58yx

Everyone knows that the home markets have been very busy. We have been saying for a while that if you have to sleep on it, you will never sleep in it. I have a quick cautionary tale that speaks to this.

Before I left for the holiday, I had received an offer on my townhome I was selling. It was a full price offer, but the buyers wanted quite a bit of closing costs paid by the seller...me. So, I countered their offer with an expiration date 2 days out. Day one came and went. Wednesday at 3 was the deadline. I called the agent on Wednesday morning and asked her if her clients would be excepting our counter offer. The agent could not give me an answer an seemed to me to not be in close contact with her clients. 

Fast forward to 11am the same morning. I get a call from another agent asking about the townhome and explaining she was about to send me an offer. I told her I was working on an offer but nothing was signed yet. In came her offer, full price with a bit less in closing costs. I countered over the phone and her clients quickly agreed.

I sent a notification to the first agent withdrawing our counter, explaining that we had received a better offer. We signed with the second agent, whose clients were ready and able to make a quick decision.

The first agent called me back and was quite upset. My answer? I gave you plenty of time to get back to me and even called to see if I could get your offer signed. Not my problem if you and your clients want to drag your feet...I said to myself.

If you are looking to buy a home, don't wait for the time limits to expire. Get your answers to counters back as soon as you can or you could lose out on the home you want.

Posted by

I write about daily life as a Realtor in the Towne Lake Community in Woodstock Georgia.

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Rainmaker
2,376,596
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Good morning Peter. You snooze, you lose. Enjoy your day!

Nov 27, 2017 05:07 AM #1
Rainmaker
495,892
Nathan Gesner
American West Realty & Management - Cody, WY
Broker / Property Manager

Until the offer is accepted by both parties, the home is still on the market. I'm glad you were able to find a buyer.

Nov 27, 2017 05:44 AM #2
Rainmaker
455,561
Gloria Valvasori, ASA
Better Homes and Gardens Real Estate Signature Service - Streetsville, ON
Quality Service, Exceptional Results, Since 1987

I'm a bit confused... If you signed back the offer to the Buyer until 3:00 p.m. that day, how could you accept another Offer when the expiration time had not yet expired.  What if the other offer accepted before the deadline?  Would you have sold your house twice?  We cannot withdraw an offer here once it has been presented, and we have to wait until the first offer has expired before accepting another one...

Nov 27, 2017 05:48 AM #3
Rainmaker
3,333,111
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Buyers need to be ready to pull the cord.  Snooze and you may lose

Nov 27, 2017 05:48 AM #4
Rainmaker
2,566,066
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce - Short Sale

It IS a move it or lose it market....be prepared to decide or lose the house !

Nov 27, 2017 06:09 AM #5
Rainmaker
365,309
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good morning Peter den Boer 

Thank you for sharing your information with us.

Have a great day 11/27/2017.

Nov 27, 2017 06:21 AM #6
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Peter den Boer

MBA,GRI, Associate Broker, Realtor
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