Special offer

How many times do I have to sell this puppy?

By
Real Estate Agent with Jameson Sotheby's International Realty

The offer is accepted, we clear a number of hurdles, attorney review, inspection, appraisal. And then, the buyer has a change of heart.  We're back on the market.

Another offer appears and is accepted, before attorney review and inspection are clear, the buyer has a change of heart (deja vu?)... and we're back on the market

Offer number three appears and is accepted.  My, but we're a popular little listing, aren't we?  Not yet clear of attorney review and inspection, offer number four shows up... they'd like to be a back-up-offer, just in case something happens to offer number three.

Under normal circumstances I would tell offer number four that their chances are slim.  But right now, I'm happy... nay joyful... to have that back-up offer.

Just how many times do I have to sell this puppy?  My poor sellers have gnawed their fingernails to the bone.  I think I'm going to have to pop for a couple of manicures... right?

Posted by

 ALAN MAY, Realtor®   
Specializing in Evanston Real Estate and North Shore Real Estate

Jameson Sotheby's International Realty, 2934 Central Street, Evanston, IL 60201
Office: 847.869.7300      Cell: 847.924.3313      Email: Almay@aol.com

Evanston Real Estate & North Shore Real Estate
Licensed in Illinois

   

Comments(13)

KAREN SANCHEZ
Reputable Realty - Apple Valley, CA
...Marketing your home like no one else will.

I love the mani idea!  What a great thing to do for your client when things aren't going right.

May 31, 2016 03:42 AM
Alan May

Maybe it'll keep them from chewing their nails?

May 31, 2016 03:45 AM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I hate when that happens.  You begin to wonder if the listing will be a stigmatized one after back on the market so many times and worry.  Or at least I do.  We currently have one on counteract #3 as well.  Hopefully in 14 days we will close.  We're past all contingencies this time

May 31, 2016 03:43 AM
Alan May

I know... it's natural to think that it must be due to some horrible inspection issue.

May 31, 2016 03:45 AM
Doug Rogers
RE/MAX Coastal Properties - Destin, FL
Your Real Estate Resource!

I've noticed more instances of "buyer cold feet" of late. Hope this is not a trend.

May 31, 2016 04:18 AM
Alan May

I surely hope not, too.

May 31, 2016 06:42 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Gives a whole new meaning to the term "boomerang buyer"...or maybe it's Seller...

May 31, 2016 04:33 AM
Alan May

Boomerang property... you sell it, only to get it back.

May 31, 2016 06:42 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Alan,  it does happen. Thankfully, it does not happen often.  I've only had to go back on the market once.  If I had to sell a home more than twice ... yikes!  That we be me needed a long spa day. 

May 31, 2016 04:49 AM
Alan May

the long spa day wouldn't do much for me.  how about a double-bourbon?

May 31, 2016 06:44 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

I'm always pleased to have a back up offer.  Then again, I've been a Short Sale Agent for so many years that I often find myself selling a home three times or more.

May 31, 2016 05:38 AM
Alan May

Short sales... you need a drink.

May 31, 2016 06:45 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Alan, Been there, done that with one of our listings this year.  Two offers the first weekend, either of which seller would have accepted but buyers BOTH changed their minds.  Take offer 3 a few weeks later.  Buyer loses their job. @%@#$%@##$!!!!  We're on track to close with offer 4 in 5 weeks.

May 31, 2016 06:02 AM
Alan May

I don't want hear anyone tell us that we don't earn our fees.

May 31, 2016 06:45 AM
Brenda Mullen
RE/MAX Associates - San Antonio, TX
Your San Antonio TX Real Estate Agent!!

I had a listing like that too...we ended up taking it off the market after a few months after the seller ended up losing her job!  Things happen for a reason!  Hope you get it sold this time!

May 31, 2016 07:22 AM
Alan May

Oy... I don't like that reason.

May 31, 2016 07:41 AM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

We can get that back here where it is a strong buyer's market yet.  You should be in a seller's market so that is just poor luck for your sellers

May 31, 2016 11:19 AM
Alan May

ya gotta watch your lap.

May 31, 2016 01:00 PM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

That is the pits...I have only had this happen 2 or 3 times in all my years.

May 31, 2016 12:09 PM
Alan May

and I've had it happen 2 or 3 times in the last 2 or 3 weeks.

May 31, 2016 01:06 PM
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

I've been on the other side of this, getting backup offers accepted, sometime to close and once just to kill it later due to a better house coming on the market and too many problems with the first one. 

 

May 31, 2016 02:39 PM
Alan May

I've been on that side, too.

May 31, 2016 10:44 PM
Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

I sold a house twice in 45 days once. The first buyer put it under contract, passed all contingencies, and had hard earnest money of about $25,000. Then he got a great job offer from Microsoft and decided not to live here in Jackson. Fortunately for me, he decided to go ahead and buy the house, and flip it. I resold it for him immediately and for a profit. Somedays it works out...

Jun 01, 2016 02:54 AM
Alan May

a good case to be made for taking a substantial amount of earnest money.

Jun 01, 2016 02:55 AM
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

My current buyers got the house they're under contract on because they were a back-up offer and the first position offer fell out. I'd definitely hold on to that back-up offer you have especially at the rate those fickle buyers are dropping off. 

Jun 02, 2016 01:27 AM
Alan May

I'm going to hold onto it with both hands.

Jun 02, 2016 01:32 AM