Everyone wants to get a good deal- but when you put in an offer to purchase real estate, it a serious document and isn't a joke.
We recently got an offer on one of our properties that has been on the market for quite some time. The offer tens of thousands of dollars below the asking price. At first our seller balked at the offer thinking the house was worth more, but the buyer and her agent didn't give up. For weeks, we went back and forth. The buyer said she couldn't afford to go any higher but loved the house and wanted it, the seller said she couldn't afford to go that low and still pay off the mortgage. The buyer and seller each wrote letters to each other explaining their position.
Finally, the seller decided that if the buyer (who was putting down a significant down payment) could close quickly, she'd take the offer. We expected the buyer to be excited- instead we didnt' hear anything from her or her agent for days. Finally her agent called and said her client never really thought that offer would be accepted and she wasn't really ready to buy. WHAT!?! SERIOUSLY?!? This "buyer" and her agent had spent weeks tried to talk us and our client into this deal- now we learn it was all just a whim.
I had another deal recently fall through. This time I was working with the buyers. From the time they put in the offer, they kept threatening to back out of the deal. If the least little thing when wrong, they threatened to walk away. I knew in my heart that the closing wouldn't happen. But everytime they threatened, I was able to smooth things over. Finally 2 days before the closing, they called me and told me they would not be buying the house because a minor- I'm talking minor repair had not been done yet. They ended up having to pay for the home inspection, title, attorney fees and face the possibility of being sued by the seller, but they didn't care.
I understand that buying real estate is a scary and emotional proposition. But you need to weigh all the options and make an educated deicision before you put in an offer. If you were the seller, this is what you would expect from prospective buyers. As an educated real estate salesperson, I can help you decide if its the right time. We can also help you find a mortgage that's right for you.
Mother/Daughter Team Real Estate Two Together For You
ExiT Realty Services 10 Main Street Suite 424 New Paltz, NY 12561
Barbara (845) 505-3160 Becky (845) 853-4210 Office (845) 255-HOME
On the web: www.UlsterNYHomes.com e-mail: UlsterHomes@yahoo.com
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