They say "Start LOW", what do you have to lose?.....Continued

The final result happened.  And it is what I thought would happen......

So the buyer was supposed to get back to me in the morning if $201K was good.  He did not and after several phone messages he finally got back to me at 4pm that day.  Now the problem was the home was having a second showing at 4pm and there was a good chance another offer would come in.  If this was the case we would not have a good chance!

This time the buyer wanted to see if he could get $1000 more off the price, now $200K.  I said are you sure you want to do that?  If there is another offer you might lose the house. He said just try and see what the seller says. 

So at about 6pm the listing agent called and said there is another offer coming in!  The seller wanted to see that offer before making a decision on either offer.  I now knew we were not sitting well.  I called the buyer back and told him.  Quickly he said I'll take the $201K offer.  I said that is fine but now the seller wants to see both.  I called the agent and gave the verbal.

Later that night the buyer called twice wanted to find out the status.  I said I have not heard back yet and if I do I will call asap. 

Now it was the next morning.  The buyer called twice again...whats going on, did we get the offer?  I said I haven't heard yet, but it might be done already and they could be working with the other offer.  He quickly said again how about $202K.  I was surprised at now the price is going up after $201K was too expensive.  I said I will call, but it might be over.

The agent called me back and said, I'm sorry but the other offer was several thousand dollars higher and we are currently working with that offer.  I called my buyer and told him.  He was disappointed and knew what went wrong.  He said "it was my fault, I waited too long".  An hour or two later he called back and said how about $204K.  I said I'd call but I think they are working with the other offer, they were.  It was over. 

Lesson learned.  Listen to your agent.  Listen to yourself.  If you feel it is a good deal and the agent says it is too take it.  Trying to play games or take too long and you might lose the home to someone else.