Lost Deal

Why don't you approach the seller's agent again with your original offer of $950,000 if your buyer is still interested?

There are a lots of stubborn clients in this market now. Maybe you can still persuade your buyer to move forward. Good luck!

Mario - I feel you pain.  I had a big deal not go through about two years ago.  Unfortunately it was a pocket 8 lot land listing of my broker's client.  My clients offered $1.4 M on a $1.2M pricetag - $200K was for additional improvements my buyer was requesting.  Total improvements might have been a bit more, but the offer was still near asking price.  The seller countered - the seller took back 3 of the best lots and raised the price of the other two. Needless to say both my client and I said "walk" at the same time.   

Mario - unfortunately, buying a home is as much emotional as it is rational.  When sellers draw a line in the sand over what is essentially pennies in comparison to the whole transaction, they run the risk of alienating the people that may be the only ones making an offer.  After they realize what they did, and that nothing better has come along, the buyers often have moved on emotionally and will no longer consider the home anywhere near where the first offer was made.  Sellers must learn to stop being greedy.  The market doesn't care if you squeeze out a few extra thousand, nor does it care if you need a particular dollar amount because of something that you are going to use the money for.  The market is what the market is, and the sooner that sellers realize this, the better off we will all be (buyers, sellers and agents).  I have buyers that I have been working with for longer than I care to admit.  One of the homes that they made an offer on had the deal die, and the home came back on the market.  They would surely be able to get the home for what they had previously offered, but psychologically they were no longer interested.  While a seller may not have bad intentions, scorned buyers very often take things personally and then refuse to deal with the seller on any level.  Good luck finding them something else.

Ive never worked a deal at that level, but I've had deals blow up ofer 3000 dollar differences.  So so close, but emotionally, so far apart. 

My client ended up paying more for another property and the original property sold for less than our offer.  No matter the level, it makes no sense!