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Prayers please, for a small thing (land buying drama). UPDATE AT BOTTOM


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What's with the ads?

#1 Arctic Mama

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Posted 12 September 2017 - 04:01 PM

Update - Well as I mentioned below, the offer fell through. We are looking at a few more parcels but each has a fairly big drawback and they're all very different, so we are fact finding this week to try and see if one pulls ahead as a more doable property choice, or if we just need to wait it out.

Edited by Arctic Mama, 18 September 2017 - 10:30 AM.

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#2 Arctic Mama

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Posted 12 September 2017 - 04:17 PM

In my head I'm running around in a circle screaming like a maniac, but it's not making me feel better :(
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#3 Rach

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Posted 12 September 2017 - 07:04 PM

I'm sorry! Good luck, home buying/selling can be so stressful.
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#4 Arctic Mama

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Posted 12 September 2017 - 07:07 PM

Thanks - it's the 'property is available but apparently there are actually shenanigans' thing that is driving me up the wall.
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#5 Lanny

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Posted 12 September 2017 - 07:24 PM

I believe when you make an offer it should expire in a few days. 3 or 5 or at most 7 days. Good luck on the owner accepting your offer!

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#6 Rach

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Posted 12 September 2017 - 07:37 PM

Thanks - it's the 'property is available but apparently there are actually shenanigans' thing that is driving me up the wall.

That would drive me insane too. Why bother listing if you plan to sell to a neighbor? When it was listed the neighbor could have spoken up.
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#7 PrincessMommy

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Posted 12 September 2017 - 07:42 PM

praying for you.  In the middle of negotiations on a house myself.  I can't imagine how annoyed and disappointed I'd be if the homeowner did what yours is doing.  Ugh.  and hugs.


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#8 CES2005

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Posted 12 September 2017 - 07:43 PM

:grouphug:  :grouphug:  :grouphug:

 

I know the maniac feel.  I hope it works out!!!!


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#9 lllllll

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Posted 12 September 2017 - 07:48 PM

:grouphug:  and praying.  

 

 


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#10 MercyA

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Posted 12 September 2017 - 10:07 PM

I will pray.  :grouphug:


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#11 JFSinIL

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Posted 13 September 2017 - 07:33 AM

Make sure the seller knows there is a time limit on your offer - let him think you are going to walk if your offer is not accepted this week.  That could motivate him to accept your large offer rather than risk being back to square one if neighbor doesn't come through.  And the realtor may sue him for messing up a sale (and their commission) - can they do that? Or at least make it apparent no other realtor may want to work with him in future since word will get out about his shenanigans?


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#12 mommyoffive

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Posted 13 September 2017 - 07:49 AM

Sending good thoughts your way.  

 

That seller doesn't seem like a good person to do business with.  Ugh.

 

 

I hate waiting, I just want to fast forward to the result.  Waiting on some things myself. 


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#13 TechWife

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Posted 13 September 2017 - 11:56 AM

Anytime I have sold a property with a realtor, there was a clause in the contract that stated that if I sold it myself, I still owed the realtor the commission on the sale.  For this reason, I don't think his realtor will care if he sells the house on his own. Did your offer have an expiration on it? If so, your offer expires then and you can make another offer for this same property at the same or a different price. I would hope that he has now told his realtor about this issue, but the neighbor should be prepared to write an offer immediately, before your offer expires. The seller is under no obligation to take the highest offer, by the way. They can consider factors such as contingencies, closing dates, amount of earnest money, their own impressions of whether or not the buyer can actually close the deal, etc.. 


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#14 Arctic Mama

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Posted 13 September 2017 - 12:55 PM

Anytime I have sold a property with a realtor, there was a clause in the contract that stated that if I sold it myself, I still owed the realtor the commission on the sale. For this reason, I don't think his realtor will care if he sells the house on his own. Did your offer have an expiration on it? If so, your offer expires then and you can make another offer for this same property at the same or a different price. I would hope that he has now told his realtor about this issue, but the neighbor should be prepared to write an offer immediately, before your offer expires. The seller is under no obligation to take the highest offer, by the way. They can consider factors such as contingencies, closing dates, amount of earnest money, their own impressions of whether or not the buyer can actually close the deal, etc..


That's essentially what we already did, yes.

Our first offer was fair market price per acre for the area,but lower than asking by quite a bit. After that offer expired we were informed of the drama on the seller's side and the verbal sort of agreement with the neighbor. So we brought our highest and best offer, a fair bit higher than what the neighbor was proposing, and that is where we stand.

We didn't put a firm expiration date on this last one that anywhere close - it's a week from now - though I wish we did it sooner in hindsight. But I asked my husband about pressuring the seller with a closer offer expiration or we walk and he declined to do it for some reason I haven't ascertained yet :p

So where we stand right now, the seller is apparently waiting for the neighbor to get money together or it goes to us, mostly likely. We are unclear on whether he will sell it to the neighbor, regardless, because of the verbal agreement they may have made. His realtor was completely caught off guard and so was mine, so we are all half in the dark.
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#15 arctic_bunny

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Posted 13 September 2017 - 01:19 PM

Sigh. We lost a property this way, I'm sorry to say. Us putting in an offer was all the owner needed for the people hemming and hawing to finally go through. We knew that's exactly what would happen

#16 Pam in CT

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Posted 13 September 2017 - 03:00 PM

:grouphug: Real estate drama is THE WORST.

 

 

In my head I'm running around in a circle screaming like a maniac, but it's not making me feel better :(

it never does, does it...

 

 

 

Make sure the seller knows there is a time limit on your offer - let him think you are going to walk if your offer is not accepted this week.  That could motivate him to accept your large offer rather than risk being back to square one if neighbor doesn't come through.  And the realtor may sue him for messing up a sale (and their commission) - can they do that? Or at least make it apparent no other realtor may want to work with him in future since word will get out about his shenanigans?

 

This.  Even if your last offer does not have a written expiration, you could signal through the broker that you need either to fish, or cut bait and move on, just so as to light a fire under the seller's butt.

 

 

 

(Unless of course your sale-side issues are in sufficient limbo that you're financially OK dragging it out a bit longer for the sake of the Dream Lot despite the crazy-making.)

 

I hope it resolves soon.



#17 Arctic Mama

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Posted 13 September 2017 - 03:22 PM

Well I put in a call to the investment company holding a few of the remaining lots just in case. They're smaller than we were aiming for but it might be a chance to stay in the awesome location that we could take. Not sure. We haven't heard anything positive or negative from the agent today so it's just waiting. And waiting.
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#18 Lizzie in Ma

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Posted 14 September 2017 - 09:54 AM

I hate things that are not upfront and straightforward.  Good luck to you!


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#19 Arctic Mama

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Posted 14 September 2017 - 10:16 AM

Thanks Lizzie, and everyone else. We modified the offer to expire Monday at 3 pm EST, and told our realtor flat out that, as badly as we wanted the property, we were walking away after that point. He is communicating to the seller's agent that this is it.

If the guy wants to dicker around with the neighbor who may or may not pay that's his problem. Our offer is higher and better, because we actually have the funds.

I'm taking a deep breath and have been looking further out at other properties, just in case. It's making me feel a bit better. There are also a few smaller parcels left in that same subdivision if we buy them from the holding company (they're not on the MLS) so that's a possibility as well.
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#20 PrincessMommy

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Posted 14 September 2017 - 10:19 AM

Thanks Lizzie, and everyone else. We modified the offer to expire Monday at 3 pm EST, and told our realtor flat out that, as badly as we wanted the property, we were walking away after that point. He is communicating to the seller's agent that this is it.

If the guy wants to dicker around with the neighbor who may or may not pay that's his problem. Our offer is higher and better, because we actually have the funds.

I'm taking a deep breath and have been looking further out at other properties, just in case. It's making me feel a bit better. There are also a few smaller parcels left in that same subdivision if we buy them from the holding company (they're not on the MLS) so that's a possibility as well.

 

 

Good for you.  I know it can be hard to walk away but you can't let people jerk you around either.


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#21 Arctic Mama

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Posted 14 September 2017 - 11:28 PM

Update - seller decided to go with the neighbor, despite our higher offer. A little disappointed, but it may be for the best - a few new parcels opened up less than a week ago in a beautiful part of town, only a few minutes from work and in a better neighborhood, amenity wise. Views and all. They're a little more expensive but bigger and I'm going to swing by tomorrow and check them out.

Fingers crossed that one of them will be amazing and we can snag it!
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#22 TechWife

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Posted 14 September 2017 - 11:52 PM

Update - seller decided to go with the neighbor, despite our higher offer. A little disappointed, but it may be for the best - a few new parcels opened up less than a week ago in a beautiful part of town, only a few minutes from work and in a better neighborhood, amenity wise. Views and all. They're a little more expensive but bigger and I'm going to swing by tomorrow and check them out.

Fingers crossed that one of them will be amazing and we can snag it!


At least you have some resolution on it! I hope you find a great property soon!
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#23 Arctic Mama

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Posted 15 September 2017 - 12:18 AM

Yes, I know God has this under control. Whatever the outcome. We have lost so many properties through various circumstances over the last two years it is unreal, but has always turned out for the best. This one is no different. If we close on one I'll update here again with happy news and pictures :)
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#24 Rach

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Posted 15 September 2017 - 07:20 AM

I'm sorry you lost it, but I'm glad you have resolution. Good luck with the new property, I hope they are nice.
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#25 mommyoffive

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Posted 15 September 2017 - 08:04 AM

I am sorry you didn't get it , but it sounds like it is for the best.  

 

 

Fingers crossed for the new places


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#26 creekland

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Posted 15 September 2017 - 08:08 AM

Update - seller decided to go with the neighbor, despite our higher offer. A little disappointed, but it may be for the best - a few new parcels opened up less than a week ago in a beautiful part of town, only a few minutes from work and in a better neighborhood, amenity wise. Views and all. They're a little more expensive but bigger and I'm going to swing by tomorrow and check them out.

Fingers crossed that one of them will be amazing and we can snag it!


I hope one of those new lots is perfect for you and this ends up being a blessing in disguise rather than a disappointment.

We had that happen once with a property and are still thankful to this day...
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#27 PrincessMommy

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Posted 15 September 2017 - 08:16 AM

I'm sorry it didn't work out.   I hope one of these other possibilities is just what you're looking for and works out well for you.  


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#28 Arctic Mama

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Posted 15 September 2017 - 09:22 AM

I hope one of those new lots is perfect for you and this ends up being a blessing in disguise rather than a disappointment.

We had that happen once with a property and are still thankful to this day...


We have essentially lost/passed over a house and three pieces of property in various locations over the last two years. Each had a purpose, and was ultimately a good thing even if I'd have been happy if they'd worked out.

I'm going to go buzz those new listings this afternoon to cheer myself up :)
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