Sellers: When do You STOP Asking for MORE?
I have had two escrows that have had problems when the Buyer and Seller had reached a verbal agreement.
In one case, the contract was for the purchase of a vacant lot. The Buyer and Seller had reached an agreement on the price. All looked good until the Seller asked for the Buyer to pay all closing costs. In Arizona, The HOA Addendum requires the Seller to pay the disclosure fee -- in this case $180. When the HOA Fee still showed up on the HUD net sheet for the Seller to pay, the Seller countered and asked to increase the Full Purchase Price by $180. In this case, the Buyer agreed but felt like the Seller was uncooperative and GREEDY.
In the other case, we also had a verbal agreement on the price. Same thing happened again when the Sellers asked for the Buyer to pay all closing costs and asked to keep the furniture as well as digging in on not being willing to make reasonable concessions.
My advice is "Do not continue to ask for more once you have reached an agreement." To counter this way is to risk blowing a contract that otherwise could have worked. Indeed, we did lose an escrow this time because my Sellers appeared to be uncooperative and GREEDY.
Comments (9)Subscribe to CommentsComment