Is it an A for effort or are Buyer being Liars? There is a shortage of homes for sale in a lot of areas along with an increase of buyers. Here in the Manchester NH area, I have run into some "creative" buyers lately. There is a "however" though and that is what this blog is about.
Perhaps it could be their buyer agents are creative or not so upfront. Lets take a recent sale. The seller mandated cash offers only without any contingencies. A hand full of offers came in the first day. The highest offer said cash. It did not include any contingencies. It said closing in 10 days. What more could the seller want?
Funny you ask... The seller wants to close. The buyer though, was not cash after all. But was getting a "Hard Money loan". The hard money lender was not so ready to close in 10 days. The buyer was found in default and lost their deposit. The property sold to a "real" cash buyer actually using their own cash.
The second example which I may have to expand on later, is buyers writing over full price offers to get their offers accepted. Then they want to re-negotiate after the inspection to get the home back to an affordable price. The home was a newer home, well built and needing nothing. I attended the inspection and there was nothing found that alarmed the inspector and he said that. SO when the inspection request came back for $15,000 in credit to the buyers closing cost in lieu of repair items, i fell off my chair.
Lets take a look at this list. Trim the bushes. Replace the carpets due to pets. (wait there is no carpets, the whole house is hardwood floors and tile.) Lastly, prepare to replace the roof as 10 years of the 25 year roof is used up.... I burst out laughing. The seller, was not laughing. He wanted to cancel the contract. Instead the countered at $0 in repairs.
The final buyer, well they decided to not disclose that they had a house for sale. Not only was it not sold yet, it was not on the market. They would use the mortgage contingency to get out if their house is not sold in time. How did I find this out? The buyer discussed it when they showed up at the home, rang the bell and asked the seller to show their Uncle the home.
In the end all were found out. Asking questions and paying attention to a sale has a way to expose any tricks any one may try. In the end all 3 homes sold. The sellers of all 3 were very happy on the outcome if each speed bump we hit. Quick and constant communication is the key to working out any issue.
Perhaps the MOST IMPORTANT message is to share with every consumer that my philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.
To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .
About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 32 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties.