I know you buyers feel like you are in the driver's seat right now, but a word to the wise: be careful how far you push it. The following parable may be instructive.
Once upon a time there was a kind and gentle lady who lived in a rural home with the love of her life. They were very happy there, far from the craziness of the city. Then one day tragedy struck; the lady's beloved was diagnosed with cancer and died within a matter of months. Totally grief-stricken, she began to see her isolation as scary and threatening rather than peaceful and tranquil. She quickly sold her country home and bought a brand-new condo in a high-end gated community in town, where she retreated into a cocoon and felt secure.
Several years passed, and although our heroine still missed her love terribly, she began to heal. Little by little, her carefree, bohemian spirit returned. She realized that she was stronger and more capable than she had imagined, and began to see the condo environment as stifling and claustrophobic. Sadly, while she had been hiding in her cocoon, the real estate market had suffered and taken the value of her condo with it.
The lady, wise and with a new equanimity, realized that although she would lose money on the condo, she could also purchase the home she desired at a bargain price. Despite her loss, she recognized the folly of overpricing, and quickly had many showings. Soon, an offer came in. The buyers did not lowball, but were otherwise extremely demanding. They submitted endless counters. They demanded to see the paperwork from the time of her purchase. They demanded to see receipts for every upgrade she had performed. They demanded to see copies of any and all inspections she had ever had done. The kind lady, wanting to be helpful, had to dig through boxes she had packed in anticipation of moving in order to find it all. They also demanded an appraisal even though they were paying cash, no doubt hoping that the appraiser would only look at the not-upgraded and run-down bank owned foreclosures in the neighborhood, thereby allowing them to beat her up some more on her price.
Then, in a burst of karma, a white knight buyer's agent rode in with new buyers in tow. These buyers loved the condo and quickly wrote a very nice offer. The lovely lady, on the brink of responding to the (counter-to-counter)3 from the demanding buyers, quickly dropped it and accepted the new offer outright.
So our story ends (mostly) happily. Our kind and gentle heroine emerged from her cocoon and purchased the home of her dreams, a cute cottage on several acres at the edge of town, which she is busily and happily imprinting with her sweet personality. And the white knight's buyers got a screaming deal (based on historical prices) on a beautiful condo in a resort-like neighborhood. Hopefully the demanding buyers learned a lesson: they are not the only banana in the bunch. If a property is priced well and exactly what you want, buy it without nickel and diming it to death or someone else will.
Epilogue: The agent of the demanding buyers called up and screamed at yours truly; apparently she had assured them that if another offer came in, I would let her know. Actually, as I tried to explain to her, I would have if it would have made a difference. The writing was on the wall for us. If they are this demanding now, we can only imagine what it will be like once we are in contract. Sorry, but the kind lady was pretty much done with them.
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