We have a car dealer in our area who always uses the expression Crazeee! to describe their low prices. Well this deal was not a crazee price, but was the deal where both agents ended up almost moving into the house being sold.
Everything began in a very normal way, a contract was presented, a little low on the offer, Crazeeee! but other terms were not so bad. The sellers decided they would counter, lowering their price just a little to indicate they wanted a much higher price than the Crazeee offer. After receiving the buyers love letter none of us expected the next step, the buyers cancelled their offer.
Their buyers' agent was confused, not like my clients she said, I have sold them several homes. The sellers were not particularly concerned as they had some time before moving. But time passes and moves on, so eventually they decided to lower their price and they moved out of the house. It was the height of summer.
Somehow, the air conditioning was turned off, maybe by the movers. Well, that lower price caught the potential buyers attention and they visited the house again and found WATER in the basement and made another offer. Terms were agreed, the HVAC system was checked as it was leaking water and repaired. We set the AC system and the buyers did their inspection.
Several items came up, negotiations were conducted and everything was agreed with agents reducing their commission to make this deal come together in a timely manner. Work was done. Receipts gathered. Settlement approached. The sellers were out of town, having relocated for a job. The listing agent checked the house, it still seemed hot, then discovered that a thermostat upstairs over-rode the one downstairs so the air conditioning was still not working. Thermostats were set for the buyers walk through.
The house was lovely and cool, but again the buyers found water in the basement, we quickly called the HVAC company and they sent a technician to fix before settlement. But, alas the system had frozen. It would take several days to thaw out. All that water had to be mopped so the listing agent visited the house several times a day to make sure it was dry.
The buyers wanted a new HVAC system, the sellers refused and the agents tired to calm everybody down. But the sellers demanded a very large sum of money, then reduced it by half to settle today.
The sellers refused saying the warranty for the work on the HVAC system would cover the repair. This went on for several days and eventually the system was repaired. Settlement was reset, but the buyers were not happy and were still demanding a cash incentive to come to settlement. They badgered and threatened their agent who advised them to talk with an attorney. They were advised by attorneys not to miss settlement, but they refused. The two agents were trying to get this to close and the buyers agent offered more of her commission to the buyers to get this home sold. Both agents were going to the house several times a day to make sure the HVAC system was working correctly and no longer leaking.
At last, settlement day arrived, the sellers had signed everything by deed package and the buyers turned up, eventually. As papers were signed, both agents looked at each other realizing they had probably spent more time in the house sold than in their own over the last week. But commission checks were issued, maybe a little smaller, but the sellers were very happy and gave a wonderful review to their listing agent, and both agents agreed a drink was in order to celebrate this deal which both thought was never going to close, but did.