Lost Deal

By
Real Estate Agent with ARCI Real Estate Professionals LLC

 

Recently my client made an offer on a $1029000 listings in New Canaan CT, Our offer was $950,The listing agent came back to me the next day with and counter offer of $1005000, we cameback to them with a best and last offer of $975, then they came back with to us with $985. My client did not wanted to raise his offer to $985. The seller wanted $985 no less. We never agreed on a price so the deal went nowhere,this happened about 3 weees ago, this morning i received a call from that same listing agent telling me that the owner is willing sell the house for my client's offer of $975. I called my client right away I was so happy because i tought to my self that this was a done deal. I was wrong my client now doesn't move forward with the deal.

I don't understand why the seller did not accepted the offer 3 weeks ago. My client is stubborn even tough he loves the house he feels like the owner did not appriciated his offer few weeks ago.

I feel so frustrated about all this.

 

 

Comments (7)

Lorrie Semler, REALTOR® in the Dallas area. Call/text 972-416-3417
United Real Estate - Addison, TX
Real Service. Real Results. Real Estate
Why don't you approach the seller's agent again with your original offer of $950,000 if your buyer is still interested?
Aug 09, 2007 05:13 AM
Craig Smith
Re/Max Achievers - Frederick, MD
Frederick MD Real Estate
There are a lots of stubborn clients in this market now. Maybe you can still persuade your buyer to move forward. Good luck!
Aug 09, 2007 05:17 AM
Judi Glamb
Coldwell Banker Hearthside - Hellertown, PA
Associate Broker, ABR
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.   
Aug 09, 2007 05:31 AM
Shane Sarae
Honolulu, HI
Mario, I also feel your pain, if this doesn't work out, another better home will reveal itself eventually. I had the same thing happen to me last year on a house I wanted to purchase.
Aug 09, 2007 05:39 AM
Kelly Sibilsky
Licensed Through Referral Connection, LTD. - Lake Zurich, IL

You need to remind your buyer that the seller was emotional and was only thinking about his or her bottom line...It's not that the seller "didn't appreciate" the offer, it's just that it takes some sellers a while for it to sink in and realize that they may have passed up the best offer they are going to get. Now the seller is asking your buyer to get back in the game...that's a good thing and gives your buyer the upper hand.

I would encourage your buyers to go and take another look at the house to see if they still love it. If they do, great! It's the house they want at the price they want. A win-win in my book!

Aug 09, 2007 07:15 AM
Adam Waldman
Westcott Group Real Estate Company - Hauppauge, NY
Realtor - Long Island
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.
Aug 09, 2007 07:57 AM
Chad Baird
Re/Max Spirit - Dayton, OH

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! 

Aug 09, 2007 08:06 AM