Bruce
Herd Master
Does your realtor take the paperwork you give him in his left hand and put them in his right hand to get them to the seller's realtor? 
Misfitmorgan's Journal - That Summer Dust
- Thread starter misfitmorgan
- Start date
Bruce
Herd Master
Out, but very VERY close
Baymule
Herd Master
We haven't heard anything in days..... whazzup?
- Thread starter
- #1,055
misfitmorgan
Herd Master
I was trying to wait until i had solid information but i will give an update now.
I had signed and sent back the 60k offer for the seller to sign. Several days went by and no signed purchase agreement was returned to me. So on wednesday the realtor texted me and said they want 62k....i was like but i already signed the agreement and i thought they agreed to selling it? He told me it had something to do with some other boss or entity of some sort.
So I told him to offer back to them 64K with 3% seller assist. He said ok he would put in the offer. Then on friday he came back asking if i was sure i wanted that offer because they dont normally do seller assist...i told him yes we were pretty firm on our offer and highlighted why the property isnt perfect for us.
So again just waiting to hear back. Dunno why we keep finding properties with issues.
I had signed and sent back the 60k offer for the seller to sign. Several days went by and no signed purchase agreement was returned to me. So on wednesday the realtor texted me and said they want 62k....i was like but i already signed the agreement and i thought they agreed to selling it? He told me it had something to do with some other boss or entity of some sort.
So I told him to offer back to them 64K with 3% seller assist. He said ok he would put in the offer. Then on friday he came back asking if i was sure i wanted that offer because they dont normally do seller assist...i told him yes we were pretty firm on our offer and highlighted why the property isnt perfect for us.
So again just waiting to hear back. Dunno why we keep finding properties with issues.
Baymule
Herd Master
The perfect property would have a price tag in the stratosphere. So you have to scrabble around for what you can afford and then mess it up to suit yourselves. Our place wasn't perfect either but it's getting there.
CntryBoy777
Herd Master
Well, it sounds to me that the sellers are hoping to sell, instead of wanting to sell.
greybeard
Herd Master
Not neccessarily issues..sounds like the normal way property is bought and sold.
The normal way it works is the seller and his realtor puts an asking price on the property, but that is never written in stone. It's just the minimum the seller wants or a starting point for the bidding. Sellers and their agents rarely accept the first or even the first couple of bids, and they would be fools to do so.
IF, the seller's agent begins getting numerous calls about the property, they assume there is a good market for the property, and will raise asking price or decline to sign a contract.
On the inverse side of the coin, buyers rarely make their first offer at the max they will go either. They'll lowball a figure below asking price and hope the seller bites.
The original asking price for the last piece of property I sold was met the day it was listed, exceeded the next day. On advice from my agent, I just sat on it, didn't sign a contract and told her to inform each bidder to re-submit their bids.
Seller is never under any obligation to sell at asking price until both parties sign a legal contract, and even then, either party can back as long as all legalities are met..usually in the form of some monetary penalties.
The initial bidder in my case was absolutely livid that I didn't accept her offer and was under the mistaken impression that I HAD to. Verbal agreements don't pass muster in real estate sales, and signed contracts aren't always iron-clad either.
Bruce
Herd Master
Interesting since it is a foreclosure. I would think the bank would want to unload it as long as they got a reasonable price. At the moment the bank is on the hook for things like property taxes and keeping the place in reasonable condition. Costs them money every day/week/month.
- Thread starter
- #1,060
misfitmorgan
Herd Master
@greybeard I do understand that is how real estate works, i am working under no false assumptions.
The issue i have is they told the realtor the offer was accepted at 60k and even sent over the sellers agreement for myself and the realtor to sign. Then over a week later they came back with....no we need 62k.
If this was a new fresh listing yeah I would understand them dragging their feet but this place has been listed for almost 9 months. They were in contract once already but FHA inspection didnt pass the house and the seller wouldnt fix anything because it is a foreclosure.
The new offer is their full asking price of 64k but we want seller assist of 3% would would still give them $62,080 which is just slightly over their current offered price of 62k. The entire reason for the seller assist is because them dragging their feet is going to push us into another month of rent payment plus another 2 payments on my personal loan, which will make us short for closing by like $100 according to my estimates.
Could we do it without the seller assist....probably, would it be way easier with it...heck yes.
@Baymule The first place we were in contract with is far closer to what we need/want then the new place. I dont want something perfect but the closer the better. DH and i were discussing and this new place is going to take approx 12k to get the large part of the pasture work done....aka clear out the stumps and cull trees that were left behind from the logging. After that there is the holes to fix, fencing to put up, pasture to plant, shelters to build, etc.
The house needs updated and basement leak fixed, the house will need a new roof within 5yrs...we are hoping for metal. There is some water damage in the garage that we are not sure is fixed yet.
The current outbuildings are suited for a work shop, wood storage, and feed storage. They are not really any suitable shelters for livestock for winter. I think everyone will be put where we can fit them until spring.
If we didnt always do everything backwards like buy the livestock first.....we wouldnt have so many problems lol.
Also i should mention we lost one of our new ewe lambs that we bought earlier this year. No obvious signs of anything wrong with her, it has been very very hot suddenly here. Our guesses are heat stress and then harassed by the goats or possibly just the goats got her. We planned on separating them when we moved but we also planned on being moved out over a month ago. So we either need to get the ball rolling on moving or we need to figure out how to separate them.
The issue i have is they told the realtor the offer was accepted at 60k and even sent over the sellers agreement for myself and the realtor to sign. Then over a week later they came back with....no we need 62k.
If this was a new fresh listing yeah I would understand them dragging their feet but this place has been listed for almost 9 months. They were in contract once already but FHA inspection didnt pass the house and the seller wouldnt fix anything because it is a foreclosure.
The new offer is their full asking price of 64k but we want seller assist of 3% would would still give them $62,080 which is just slightly over their current offered price of 62k. The entire reason for the seller assist is because them dragging their feet is going to push us into another month of rent payment plus another 2 payments on my personal loan, which will make us short for closing by like $100 according to my estimates.
Could we do it without the seller assist....probably, would it be way easier with it...heck yes.
@Baymule The first place we were in contract with is far closer to what we need/want then the new place. I dont want something perfect but the closer the better. DH and i were discussing and this new place is going to take approx 12k to get the large part of the pasture work done....aka clear out the stumps and cull trees that were left behind from the logging. After that there is the holes to fix, fencing to put up, pasture to plant, shelters to build, etc.
The house needs updated and basement leak fixed, the house will need a new roof within 5yrs...we are hoping for metal. There is some water damage in the garage that we are not sure is fixed yet.
The current outbuildings are suited for a work shop, wood storage, and feed storage. They are not really any suitable shelters for livestock for winter. I think everyone will be put where we can fit them until spring.
If we didnt always do everything backwards like buy the livestock first.....we wouldnt have so many problems lol.
Also i should mention we lost one of our new ewe lambs that we bought earlier this year. No obvious signs of anything wrong with her, it has been very very hot suddenly here. Our guesses are heat stress and then harassed by the goats or possibly just the goats got her. We planned on separating them when we moved but we also planned on being moved out over a month ago. So we either need to get the ball rolling on moving or we need to figure out how to separate them.
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