ajfries Posted May 19, 2014 Share Posted May 19, 2014 It's a long shot since we're offering 20% less than the asking price. But it's been on the market for 3 years (without any offers) & the owner is a 90 year old man in assisted living. I think he's understandingly sentimental about his home, so I wrote a really heartfelt letter and I hope that helps. The worst possible scenario would be to have him reject it without countering. I'm nervously excited about the whole thing. Quote Link to comment Share on other sites More sharing options...
stephanier.1765 Posted May 19, 2014 Share Posted May 19, 2014 Good luck! Quote Link to comment Share on other sites More sharing options...
Ethel Mertz Posted May 19, 2014 Share Posted May 19, 2014 Keeping my fingers crossed for you! Hope all goes well. Quote Link to comment Share on other sites More sharing options...
gardenmom5 Posted May 19, 2014 Share Posted May 19, 2014 good luck. Quote Link to comment Share on other sites More sharing options...
Catwoman Posted May 19, 2014 Share Posted May 19, 2014 Good luck! Keep us posted!!! Quote Link to comment Share on other sites More sharing options...
Mom2OandE Posted May 19, 2014 Share Posted May 19, 2014 Good luck! Quote Link to comment Share on other sites More sharing options...
Happy Posted May 19, 2014 Share Posted May 19, 2014 Exciting! I hope the letter helps. Quote Link to comment Share on other sites More sharing options...
Kathryn Posted May 19, 2014 Share Posted May 19, 2014 Good luck! Quote Link to comment Share on other sites More sharing options...
fraidycat Posted May 19, 2014 Share Posted May 19, 2014 Good luck! Quote Link to comment Share on other sites More sharing options...
Catwoman Posted May 19, 2014 Share Posted May 19, 2014 Did the real estate agent give you any indication as to when you'd get a response from the seller? (OK, I'll admit it -- I keep checking this thread for an update! :blush:) Quote Link to comment Share on other sites More sharing options...
ondreeuh Posted May 20, 2014 Share Posted May 20, 2014 Good luck! We just had our offer accepted this week. The home was back on the market after two previous failed attempts to sell, and we put in an offer within 24 hours of listing. The list price was $100k below what she asked for 3 years ago, so I think she was finally ready to do what she needed to do to sell. We found out there was another offer so we bumped our offer up above asking price and got it! Our seller is elderly and can't live alone anymore, but she is very attached to the house, so much so that she followed us around during the showing and told us all about her personal possessions LOL. Our agent did ask the listing agent to pass along to the seller how much we love the house and appreciate the work she had done to it over the years. Let us know what happens! We gave our seller about 36 hours to respond, and she made her decision close to the cutoff. It was a little nerve wracking. Quote Link to comment Share on other sites More sharing options...
Catwoman Posted May 20, 2014 Share Posted May 20, 2014 Good luck! We just had our offer accepted this week. The home was back on the market after two previous failed attempts to sell, and we put in an offer within 24 hours of listing. The list price was $100k below what she asked for 3 years ago, so I think she was finally ready to do what she needed to do to sell. We found out there was another offer so we bumped our offer up above asking price and got it! Our seller is elderly and can't live alone anymore, but she is very attached to the house, so much so that she followed us around during the showing and told us all about her personal possessions LOL. Our agent did ask the listing agent to pass along to the seller how much we love the house and appreciate the work she had done to it over the years. Let us know what happens! We gave our seller about 36 hours to respond, and she made her decision close to the cutoff. It was a little nerve wracking. CONGRATULATIONS!!! :party: Quote Link to comment Share on other sites More sharing options...
ajfries Posted May 20, 2014 Author Share Posted May 20, 2014 We should know by today, but when my real estate agent called to ask for the legal description, the seller's agent said he was writing up an offer, too (for another client). So things aren't looking real good. I'm trying to remain hopeful but if this doesn't go through there aren't really any other properties right now in our vicinity and we're very committed to staying in our home town. Quote Link to comment Share on other sites More sharing options...
ajfries Posted May 20, 2014 Author Share Posted May 20, 2014 Good luck! We just had our offer accepted this week. The home was back on the market after two previous failed attempts to sell, and we put in an offer within 24 hours of listing. The list price was $100k below what she asked for 3 years ago, so I think she was finally ready to do what she needed to do to sell. We found out there was another offer so we bumped our offer up above asking price and got it! Our seller is elderly and can't live alone anymore, but she is very attached to the house, so much so that she followed us around during the showing and told us all about her personal possessions LOL. Our agent did ask the listing agent to pass along to the seller how much we love the house and appreciate the work she had done to it over the years. Let us know what happens! We gave our seller about 36 hours to respond, and she made her decision close to the cutoff. It was a little nerve wracking. Congrats! That is so exciting! Quote Link to comment Share on other sites More sharing options...
ondreeuh Posted May 20, 2014 Share Posted May 20, 2014 We should know by today, but when my real estate agent called to ask for the legal description, the seller's agent said he was writing up an offer, too (for another client). So things aren't looking real good. I'm trying to remain hopeful but if this doesn't go through there aren't really any other properties right now in our vicinity and we're very committed to staying in our home town. That sounds fishy, and like there could be a conflict of interest since the selling agent is the one writing a competing offer. The skeptic in me wonders if he is trying to get you to change your offer to a higher price to benefit the seller. Who knows, maybe the other buyers have contingencies or are offering even less. We preferred staying close by but the house we bought is JUST on the city limits. It's closer to all the fun stuff than where we are, but I am privately glad that I don't have to claim the other city as my residence. One thing we did in our offer is ask for first option to buy furniture that the seller isn't going to take with her. We figured that might be attractive to someone moving into assisted living - it could save them some of the he hassle of selling stuff, and make them feel good the furniture will stay in the house. I don't know if that mattered to her, though. Quote Link to comment Share on other sites More sharing options...
fraidycat Posted May 20, 2014 Share Posted May 20, 2014 That sounds fishy, and like there could be a conflict of interest since the selling agent is the one writing a competing offer. The skeptic in me wonders if he is trying to get you to change your offer to a higher price to benefit the seller. Who knows, maybe the other buyers have contingencies or are offering even less. . :iagree: 3 years on the market with zero offers, then 2 in one day!? Maybe it wouldn't hurt to contact a lawyer or whoever is the governing body for RE agents to ask how one would investigate "fishiness" in a transaction such as this. Quote Link to comment Share on other sites More sharing options...
DawnM Posted May 20, 2014 Share Posted May 20, 2014 My strong guess is this. It is a seller's tactic to get another buyer to offer more. Dawn That sounds fishy, and like there could be a conflict of interest since the selling agent is the one writing a competing offer. The skeptic in me wonders if he is trying to get you to change your offer to a higher price to benefit the seller. Who knows, maybe the other buyers have contingencies or are offering even less.We preferred staying close by but the house we bought is JUST on the city limits. It's closer to all the fun stuff than where we are, but I am privately glad that I don't have to claim the other city as my residence.One thing we did in our offer is ask for first option to buy furniture that the seller isn't going to take with her. We figured that might be attractive to someone moving into assisted living - it could save them some of the he hassle of selling stuff, and make them feel good the furniture will stay in the house. I don't know if that mattered to her, though. Quote Link to comment Share on other sites More sharing options...
ajfries Posted May 20, 2014 Author Share Posted May 20, 2014 Honestly I hadn't even thought of the fact that he could be lying. But I wouldn't be surprised (and now I'm hoping that's the case). They are the only realty company in our small town & I've heard of some 'ethically gray area' things they've done. We didn't raise our offer because of it, so I feel good about that. Still haven't heard anything. We'll see! Quote Link to comment Share on other sites More sharing options...
Catwoman Posted May 20, 2014 Share Posted May 20, 2014 I agree with the others that the seller's agent is pulling a fast one. The odds are incredibly remote that he's telling the truth about the other offer. INCREDIBLY, INCREDIBLY REMOTE. I hate it when I feel like I'm being lied to. It happened once with a house we wanted to buy, but we ended up not buying it because the seller's realtor was such a weasel that we finally just walked away. Quote Link to comment Share on other sites More sharing options...
tammyw Posted May 20, 2014 Share Posted May 20, 2014 Oh my. That sounds incredibly fishy. And it would honestly make me think twice about entering an agreement with someone who would pull such a stunt. Quote Link to comment Share on other sites More sharing options...
Kathryn Posted May 20, 2014 Share Posted May 20, 2014 I agree with the others that the seller's agent is pulling a fast one. The odds are incredibly remote that he's telling the truth about the other offer. INCREDIBLY, INCREDIBLY REMOTE. I hate it when I feel like I'm being lied to. It happened once with a house we wanted to buy, but we ended up not buying it because the seller's realtor was such a weasel that we finally just walked away. Agreeing also. We were days away from closing on a house once, but our insurance company wanted two things done: dead tree removed and leaking water heater replaced.we couldn't get the mortgage without insurance, so we couldn't buy it and then do it ourselves. The sellers said they'd do one or the other, but not both. We went around and around, and got fed up. Then they threatened us with "we've got another couple right behind you willing to pay full price AS IS." We told them good luck with that. It sat on the market for another year before a For Rent sign went up. They cut down the dead tree too. Quote Link to comment Share on other sites More sharing options...
ajfries Posted May 21, 2014 Author Share Posted May 21, 2014 You guys are giving me hope!!! It's 5:30 here, my agent has been trying to get a hold of the seller's agent since 2:30 this afternoon. I'm irritated. I'm tempted to call the seller directly. It's a small town, there's no anonymity. Quote Link to comment Share on other sites More sharing options...
Catwoman Posted May 21, 2014 Share Posted May 21, 2014 Something definitely seems fishy about the seller's agent. Quote Link to comment Share on other sites More sharing options...
ajfries Posted May 21, 2014 Author Share Posted May 21, 2014 Just heard from the seller's agent. Apparently he's been trying to get a hold of the seller since Monday and hasn't been able to. There are now TWO other offers. :001_rolleyes: ETA: I take it back. The seller's agent said that there were 2 offers, not 2 more. Quote Link to comment Share on other sites More sharing options...
Catwoman Posted May 21, 2014 Share Posted May 21, 2014 Just heard from the seller's agent. Apparently he's been trying to get a hold of the seller since Monday and hasn't been able to. There are now TWO other offers. :001_rolleyes: May I be the first to call PANTS ON FIRE? Something is definitely wrong here. Quote Link to comment Share on other sites More sharing options...
OneStepAtATime Posted May 21, 2014 Share Posted May 21, 2014 May I be the first to call PANTS ON FIRE? Something is definitely wrong here. Yep, definitely smelling a bit of smoke.... Quote Link to comment Share on other sites More sharing options...
trulycrabby Posted May 21, 2014 Share Posted May 21, 2014 Something definitely seems fishy about the seller's agent. Yup, I can smell the rotten tuna all the way in Alabama. Fishy! :ack2: Keeping my fingers crossed that everytging works out in your favour! :) Quote Link to comment Share on other sites More sharing options...
ajfries Posted May 21, 2014 Author Share Posted May 21, 2014 Honestly, I just want to know either way. I hate being in between. Maybe, maybe not. Even if he "gets a hold" of the seller tomorrow, he's still going to need time to decide... especially if the 2nd offer is legit. Quote Link to comment Share on other sites More sharing options...
OneStepAtATime Posted May 21, 2014 Share Posted May 21, 2014 Honestly, I just want to know either way. I hate being in between. Maybe, maybe not. Even if he "gets a hold" of the seller tomorrow, he's still going to need time to decide... especially if the 2nd offer is legit. Sorry. I know that is a frustrating place to be. Hopefully you will get a solid answer soon. Quote Link to comment Share on other sites More sharing options...
JuanitaL Posted May 21, 2014 Share Posted May 21, 2014 Just heard from the seller's agent. Apparently he's been trying to get a hold of the seller since Monday and hasn't been able to. There are now TWO other offers. :001_rolleyes: ETA: I take it back. The seller's agent said that there were 2 offers, not 2 more. Is it that hard to contact someone living in assisted living? Is there something stopping you from contacting the owner? That is one thing I really hate about using realtors - having to go back and forth between 2 additional people. Quote Link to comment Share on other sites More sharing options...
DawnM Posted May 21, 2014 Share Posted May 21, 2014 We found a house we LOVED. We weren't quite ready as our house in CA hadn't sold yet. The house had been on the market empty for over a year. It was reasonably priced for the area (on a lake, etc...) Wouldn't you know it, after a full year with NO bites, it sold a week before we were ready to put a bid/offer on it. I was upset. I STILL think about that house......the one that got away. Dawn Just heard from the seller's agent. Apparently he's been trying to get a hold of the seller since Monday and hasn't been able to. There are now TWO other offers. :001_rolleyes: ETA: I take it back. The seller's agent said that there were 2 offers, not 2 more. Quote Link to comment Share on other sites More sharing options...
ajfries Posted May 21, 2014 Author Share Posted May 21, 2014 Is it that hard to contact someone living in assisted living? Is there something stopping you from contacting the owner? That is one thing I really hate about using realtors - having to go back and forth between 2 additional people. The seller's number is listed in the phone book; each apartment has it's own phone. I could call him; I just don't know what I would say if he answered. I could be honest, obviously...but I don't want to seem pushy. OTOH, he needs to know if he's got an offer on his house & his realtor isn't telling him. Or if they are both playing games...well, *shrug*. I would feel terrible bothering him if there's a family emergency that he's tending to. Quote Link to comment Share on other sites More sharing options...
tammyw Posted May 21, 2014 Share Posted May 21, 2014 Have your realtor play games too. He can tell the other realtor that if you don't get an answer within the next 12 hours, there's another house you are thinking of putting an offer on, but can't do that until the other deal is a yes or no. And find another house you kind of like so that you're not lying :) Quote Link to comment Share on other sites More sharing options...
OneStepAtATime Posted May 21, 2014 Share Posted May 21, 2014 The seller's number is listed in the phone book; each apartment has it's own phone. I could call him; I just don't know what I would say if he answered. I could be honest, obviously...but I don't want to seem pushy. OTOH, he needs to know if he's got an offer on his house & his realtor isn't telling him. Or if they are both playing games...well, *shrug*. I would feel terrible bothering him if there's a family emergency that he's tending to. I could be wrong but you may be violating an agreement if you contact directly. What kind of contract did you sign (if any) with your real estate agent? Quote Link to comment Share on other sites More sharing options...
Cera Posted May 21, 2014 Share Posted May 21, 2014 I would call him. What's the worst that happens, he has another offer and is annoyed you called? Best case scenario, you get to chat about how much you love his house and how perfect it would be to raise your family in and he takes your offer because he is sentimental and wants another family to be happy there. The way I see it you don't have much to lose. Quote Link to comment Share on other sites More sharing options...
ajfries Posted May 21, 2014 Author Share Posted May 21, 2014 No contract with our realtor, just the offer. I'd definitely run it by him before calling the seller myself. I really like him and trust him. He thinks this whole thing is fishy, too. I'm probably just going to wait. I tend to be impatient & I'm always rushing & trying to force things. I'll talk to my realtor about seeing if we can push back a bit, but I think it'll only make me feel better in the temporary. I don't think it will make or break whether we get the house. If the seller's realtor is not lying (I know, I know) then it's irrelevant (frustrating, but irrelevant). If he is lying...well, then calling the seller would catch him in a lie, but then what? The market in our town is literally at a snail's pace. The houses that are for sale are either foreclosures (poorly maintained), starter homes (we're looking to upgrade) or way above our price range. There isn't a whole lot of in between right now. We're ok with waiting, but MAN. This house is just about perfect for us. Quote Link to comment Share on other sites More sharing options...
I talk to the trees Posted May 21, 2014 Share Posted May 21, 2014 The market in our town is literally at a snail's pace. The houses that are for sale are either foreclosures (poorly maintained), starter homes (we're looking to upgrade) or way above our price range. There isn't a whole lot of in between right now. We're ok with waiting, but MAN. This house is just about perfect for us. Yup! That's exactly what we are running into! So...any word yet? Quote Link to comment Share on other sites More sharing options...
Catwoman Posted May 22, 2014 Share Posted May 22, 2014 No contract with our realtor, just the offer. I'd definitely run it by him before calling the seller myself. I really like him and trust him. He thinks this whole thing is fishy, too. I'm probably just going to wait. I tend to be impatient & I'm always rushing & trying to force things. I'll talk to my realtor about seeing if we can push back a bit, but I think it'll only make me feel better in the temporary. I don't think it will make or break whether we get the house. If the seller's realtor is not lying (I know, I know) then it's irrelevant (frustrating, but irrelevant). If he is lying...well, then calling the seller would catch him in a lie, but then what? The market in our town is literally at a snail's pace. The houses that are for sale are either foreclosures (poorly maintained), starter homes (we're looking to upgrade) or way above our price range. There isn't a whole lot of in between right now. We're ok with waiting, but MAN. This house is just about perfect for us. If I was selling my home and my agent was a lying weasel, I would want someone to tell me about it. For all you know, the seller is in on it with the agent and is. all in favor of acting like there are multiple offers on the house, but realistically, he probably doesn't have a clue. You can't even be sure that his agent has presented your offer to him. Quote Link to comment Share on other sites More sharing options...
ajfries Posted May 22, 2014 Author Share Posted May 22, 2014 Apparently the seller decided to "pass on our offer". No counter, nothing. My agent said he was going to see if he can find out if the seller accepted the "other offer". We have no idea if our offer was even extended to the seller, and according to my realtor, it's pretty typical to get verbal rejections. I'm a bit disappointed, mostly because I don't know if we got a fair shake, but I feel good about all the improvements we're making to the house we're currently in :) And I'll just keep an eye on this property. If it's still for sale, we'll probably make another offer at the beginning of the year. Quote Link to comment Share on other sites More sharing options...
ondreeuh Posted May 22, 2014 Share Posted May 22, 2014 It's a long shot since we're offering 20% less than the asking price. But it's been on the market for 3 years (without any offers) & the owner is a 90 year old man in assisted living. I think he's understandingly sentimental about his home, so I wrote a really heartfelt letter and I hope that helps. The worst possible scenario would be to have him reject it without countering. I'm nervously excited about the whole thing. That's disappointing! It must be paid off for him to be willing to sit on it for 3 years, but still, the taxes. Maybe it's better that you're not dealing with him after all - he sounds difficult. Quote Link to comment Share on other sites More sharing options...
sunnyday Posted May 22, 2014 Share Posted May 22, 2014 Apparently the seller decided to "pass on our offer". No counter, nothing. My agent said he was going to see if he can find out if the seller accepted the "other offer". We have no idea if our offer was even extended to the seller, and according to my realtor, it's pretty typical to get verbal rejections. I'm a bit disappointed, mostly because I don't know if we got a fair shake, but I feel good about all the improvements we're making to the house we're currently in :) And I'll just keep an eye on this property. If it's still for sale, we'll probably make another offer at the beginning of the year. He may be trying to call your bluff? That happened when we made a lowball offer on our house, in about the same range (about 15% below list price). The seller declined to counter, so we shrugged and walked away, but in a couple of days they came chasing back with a verbal counter (at or almost at the original list price, but still, a place to start from). We came up farther than they came down but we still felt we had a good deal in the end. Real estate should be more about the financial decision than the emotional one, good job keeping a level head on your shoulders! Quote Link to comment Share on other sites More sharing options...
ondreeuh Posted May 22, 2014 Share Posted May 22, 2014 Not being able to sell your property doesn't mean "willing to sit on it." If no one is interested, what's he supposed to do? Or do you mean he should have lowered the price more by now? He maybe just wants to break even and lowering the price would ruin a chance of that. ???? That's exactly what I mean - he should have lowered the price or be willing to accept a lower price if he's actually interested in selling. He has an offer from an interested party. If he has a mortgage on the place, then he is losing a good chunk of money every month it is unsold. If he's paid it off the house and has no mortgage, then he's still paying taxes on it and is losing interest on the $$ he could have invested. That quickly erodes at your ability to break even, unless property values are going up to offset that (but it doesn't sound like it from the market the OP described). If he plans on biding his time until the market improves, then that does mean he's willing to sit on it. So yeah, if he is unwilling to lower his price, then he is willing to sit on the property rather than sell at a discount. And my guess is that it is overpriced if it hasn't sold in 3 years. I'd wager that he is sentimental about the house and he is unrealistic about its market value. Quote Link to comment Share on other sites More sharing options...
Catwoman Posted May 22, 2014 Share Posted May 22, 2014 I have to admit that I'm wondering if the seller's agent ever even presented your offer to him. It strikes me as very odd that the man would have his house on the market for years without a sale, and then not even bother to counter your offer. Quote Link to comment Share on other sites More sharing options...
ajfries Posted May 22, 2014 Author Share Posted May 22, 2014 Per the seller's realtor, the owner originally wanted to list the house for 250K, which is unheard of in this area (unless there's acreage involved). The seller's agent talked him into listing it at $189K. Over time, he lowered the price to $159K which isn't completely ridiculous, but in this market it is unrealistic. A similar house recently sold for $120K. And the house needs lots & lots of cosmetic updates (nearly everything, actually). It's now listed as "Backup offers accepted". So there was another offer, but it might have contingencies? I don't know. And I'm not sure that I care at this point :) I'm not completely convinced that he received our offer; and most likely didn't get my heartfelt letter :thumbdown: I have a feeling it was more like a phone conversation. "Hey seller, you've got two offers. One for $130 and the other for ______" We just recently started looking at houses within the last month and this was the only one out of 10 or so that was even a possibility. But we're not in any hurry, in fact looking at houses has made me better appreciate the one we're in. Quote Link to comment Share on other sites More sharing options...
Spryte Posted May 22, 2014 Share Posted May 22, 2014 I'm sorry it didn't work out this time. :grouphug: It would have been nice to get a response to your heartfelt letter - I would have at least responded to that. It would be so touching to receive something like that about a long-term home. You will find the right house, and it will be perfect for your family! Quote Link to comment Share on other sites More sharing options...
ajfries Posted May 22, 2014 Author Share Posted May 22, 2014 Ahh. It sounds like the seller may be out of touch with reality (or like you said just very sentimental about the house). A bit of both, perhaps. But then again, if you find a buyer that's a bit out of touch with reality (or desperate), then it works out just fine for everybody. :D Quote Link to comment Share on other sites More sharing options...
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