MauiLuver, Sounds like you would be unhappy in the long run to settle where the latest offer stands ~ especially if you agree to their time frame which would force you into temporary housing ~ even if they came up the other 5K. Am I reading this right?
I really do think this is the classic stand-off with each side sticking to their position and hoping the other side gives up first. You say that they are in temporary housing as well ~ well, one advantage from your perspective.
Bottom line, only offer back what you would be satisfied (I say satisfied - not happy) to end up with ~ sounds as if you feel you are being pushed into a corner with no way out. Wrong, if your comps are accurate and you have only been on the market for 2 weeks, you are still the ones in control...
Good luck; keep us up-dated!
Since you are the one making all of the concessions, I would stand firm on the date that works best for you. I would give them their date only if they made it really worth your while. Now that you know that little tidbit of information, use it to your advantage!
I think my answer to them is to 1. Confirm my H's transfer dates but regardless go back and give them the Mid June date that will work best for me. The realtors are earning a large commissions, the 5k we are apart could be taken right out of their commission and they wouldn't even feel it. 5.5% of a lot of money is a heck of a lot of money. If these people won't come up the five grand and these realtors want to work this deal out (as they clearly do) then they will figure it out.
You guys are certainly helping me through this, and yes, last night I was feeling boxed into a corner... today I decided I wasn't going to be in that corner.
This however will certainly pressure us to find a house where we are moving, it's an even more expensive hotter market than ours.... crazy insane hot.... that's a whole other problem and we need that town for a specific reason... BLAH... One thing at a time....
You're close enough that the deal should work - somehow.
Hoping whatever occurs (either way) is the best for you and your family!
Let us know ...
They came up to the dollar figure but want the May date which is impossible, I'm in the hospital four hours away the day prior.... we just can't seem to get this ironed out..... Now I'm still waiting....
If nothing else, this will tell you if they truly love your home and are committed to the deal, IMHO.
P.S. Hope everything's o.k. physically, ML. Too bad you're going through something else, too.
Thanks Bearcat, my health is one of the reasons we are moving
So, the realtor called back, they have a back up plan not as good but they want to get the kids out of the short term housing, I was thinking maybe we could do June 3rd after my procedure, gives me time to recover and DH to move stuff to storage. However after I told the realtor about a possible June 3rd date DH said no, our senior is graduating and has school through the 14th and DH would prefer not to mess up his last 2 weeks of high school... so I've called the realtor back... the realtors were each going to kick in 500.00 for us for housing for the 2 weeks (it's something anyhow).
They don't really love the house, they like the neighborhood and the open floor plan on the first floor.
Sounds like everyone has come to an agreement on the price ~ now scheduling is the problem and I do understand how the medical and personal reasons (son's high school graduation and last 2 weeks of high school) are impacting your decision.
Myself, I would probably agree to the sale since they came up to the dollar figure I was wanting and then give them a $3000 credit in exchange for them agreeing to the mid-June closing date. That would work for both of you ~ the potential buyers are already in temporary housing ~ 2 more weeks won't change that and it would allow you to time to move...
Best of luck ~ sounds like everyone wants this deal to work ~ just have to figure out how to do it.
I don't know what to tell you. We've got 2 houses for sale. The one we're living in and one we finished in 2008. We're in a county that still has almost 12 percent unemployment so nothing is selling. I don't think you should be too concerned at this time. I'd maybe put something in your listing about giving a flooring allowance so someone can change the flooring or ask your realtor what floors exactly are people not liking.
Well, the carpeting people are measuring today for new carpets. The deal with these buyers is not going well. They actually wanted the house 4 weeks from tomorrow (we just agreed on the price yesterday). We just can't do it, I even went back with a June 3rd date, after my procedure and recovery and nothing.... There really isn't anything I can do, they've been offered money by the realtors to stay in housing and NADA... whatever their plan B is I guess they must be going with it.
After all your work and stress to try to make this house sale work, I'm sure you're disappointed. However, as I've kept tabs on this thread, one thought kept running through my head: It's not meant to be as it shouldn't be this hard.
I think your buyers are totally bluffing on the closing date. They want out of temporary housing yet they think if this deal doesn't work they'll be able to find, negotiate, close, and move in to a house as good as yours in 4 weeks? I'm doubting it.
Stick to your guns. Your house has only been on the market a short time. Either these buyers will capitulate once they've thought about it or a better buyer will come along (especially once the realtor community knows that you aren't in the middle of negotiating, since this tends to kill market interest).This message has been edited. Last edited by: Jewel,
Well as it were (I'm waiting on an email or message), but somebody's realtor brought this thing back from the dead. They agreed to the June 3rd closing. I have found a place for us to spend a few weeks if this deal goes through, we're supposed to sign contracts tomorrow. At this point these people are the center of their own universe, it is just amazing... meanwhile the realtor where we are moving is worried about our timeline being too short.. yeh, no kidding, but I still don't think I can put a contract in before the home inspection of my house is done. After that nothing stands in the way and with these people even though it is pass fail I think they could pull something. I'm totally sick of this, my friends would have pulled the plug on this one already... Some buyers are just painfully slow to do a thing, that's why some have been renting for 8 years (yes we got an offer from one of those).... And I agree, the realtor community knows this is going on and I think it has obviously affected our showings..... Now I'm just waiting until I hear about the inspection.
And? Hope it is good news ~ let us know when you get the chance.
Well you won't believe it, I finally just issued an ultimatum to all the nit picking yesterday afternoon, I told my realtor this was it, I'd had enough, here was the deal and I didn't want to hear another word about it, if they didn't like it go with their plan B our deal was off.... Two hours later I get a call, the buyers backed down off what they wanted and as far as I know they are putting their signature to the changes today. So although there's a home inspection tomorrow I still don't have a completely signed P&S. But I think we will.
The disconcerting news on our end, is the town we are looking at buying in, we cannot make an offer on any home with our own home sale contingency, the market there is so hot, the nice properties are going under within 5 days, most are cash properties, although some recent ones have been with a mortgage contingency.... but regardless, it means we have to wait until June 3rd to be able to put an offer in anywhere, so between June 3rd and 10th we have to find a property, put an offer in, have it accepted (so go in high) in the hope we are only homeless through the first week of July... much less to say I'm looking at temporary housing that is outrageously expensive but should be covered by our relocation package, but still it means moving twice...
So hang on to hang on, we'll see if they do sign the P&S today agreeing to the changes and then we will get an initial read tomorrow night on the home inspection..... this has not been an easy transaction, I wouldn't wish this on anyone.... The stress is up there, that's for sure...
Wishy washy buyers drive all of us nuts..nothing new.
Your Realtor should be going full force advertising and showing your property until you have a meeting of the minds..i.e. a fully executed contract.
Who made up the "rule" that you can't make an offer while you have a contingency pending? If you're using a buyer's agent they have a fiduciary responsibility to you to forward your offer. Unless a specific seller has notified their agent they will not consider such offers their agent has a fiduciary responsibility to forward all offers.
First things first, get this house sold and then look for your new home. Have to say that I am delighted that you finally pulled the plug ~ no more playing around ~ and it worked! Hope it works all the way to closing but there are still some obstacles to overcome like the inspection.
In any event, you are better off than you were this time last week!
Chuck Steak, in the market we are buying into, the better properties coming on the market are being sold 10% above list, sometimes significantly more than that in multiple bidding situations, and those with cash are winning out. It's just the market. We might put an offer in Monday morning but there's almost no hope it will even be considered. P&S's are due by 3 on Monday and will be presented at 6pm Monday... The property is the best one we have seen come up and if we do go in with an offer we will try 20% above list and that does not guarantee on this particular property that we will be the highest offer, never mind the home sale contingency. On the other hand if we go for short term housing it's 4 grand a month at a minimum, it's worth trying to go in strong I think.
Idaho Resident, you are right we are certainly better off than a week ago, but why on earth did I let this go a week, I should have pulled the plug Monday and given the ultimatum. The home inspection is today between 2 and 5, we should get a verbal read Friday night if they thought there was anything of concern, but they have until Sunday night to withdraw. After that very little is left to get in the way... so I guess we see how the inspection goes.... I did get the signed P&S today so for at least today we are under contract. Selling a home should never be so difficult....
Thanks to everyone, you kept me sane....
Good job, ML! So when do you have to be out of your current house?
I totally understand about going in high on the offer of your new house to avoid temporary housing.
Well, I'm not really thinking about it too much until after the inspection ends and I hear something back tonight and an official answer Sunday, but we're supposed to close on the 3rd, our son still has classes for a week and then a couple of finals and graduation during the second week, so we'd like something to move into June 17th.... We'll see, that's another hurdle for another day.
Good luck with whatever you choose to do. I read your earlier comment to mean someone was (improperly) keeping you from making an offer that you wanted to make.
The realtor is just being honest. I find it humorous she sent home with my H 4 P&S's, we're in for a battle to try and get something we like.
We had the inspection, it was very eventful (of course...), the inspector spent two hours here with both myself and my H here, he never once asked us to move the items out of the closet that leads to the attic crawl space, not once. We leave right before the time the realtor and buyers were to arrive, I get a call forty five minutes later from my realtor, their realtor never showed she had an appt. and they were locked out, could we extend the inspection, now I had just finished my errands so I came right back, let them all in and went upstairs to yet another sitting area. We never hear a word as they left. Fine enough, I then get a call from my realtor, they need to extend the inspection because he couldn't get into the attic. I told him to get the inspector back here tonight. I cleared out the closet in 12 lousy minutes and for this we are now waiting. I haven't heard back other than a few issues came up but my realtor didn't think any of it was really significant or a deal breaker.
Unbelievable, so here I sit waiting to find out when he's coming back, but the clock is ticking....
MauiLuver, What a Comedy of Errors ~ fortunately all being committed on the other side! Just stay focused, calm and polite (and keep all those comments to yourself!) Yes, I can hear them from here!
You want to sell, right? So keep quiet and let things play out the way they are going to do...
Keep us up-dated. I really can't wait to hear the next installment!
Well the clock ticked down and the buyers came back wanting a thousand dollars for some trim boards, the valve on the hot water heater fixed and something with the electrical panel being flush with the wall board (apparently it should not have been)... anyhow, I refused all of it, it was pass/fail and they got the price they got for a reason. In the end they wrote a letter requesting the valve be replaced and the drywall be fixed, probably a couple hundred to do both, I declined and the offer is done and I've taken the house off the market, we are going with a plan B that is great for everyone in the house except me. So that is the end of the drama, not a happy ending.
Not sure what to say except a few hundred dollars would have solved the problem. In effect, you just bought back your house for what they offered you. Good luck.
I probably would have done the same thing, Maui. The buyers were already getting a steal of a deal with their low-ball offer and inconvenient closing date, yet they still wanted you to give them more. You are well shed of them in my opinion.
Yup... Now 3 hours later I get a message they are freaking out and want to buy the house. Too bad, I think my Husband already reversed his transfer. If I bought my house back for a couple hundred dollars it was a heck of a steal. Jewel you are correct, I am well shed of them. Their lives must be more full of drama than I can even imagine. Unbelievable. I truly hope this guy isn't a Resident at the hospital down the street because for certain he can't make a decision to save his life never mind someone else's.
Karma. That didn't take long. Hope those buyers learned their lesson.
They don't seem to learn their lesson at any juncture, it's only when I draw the line in the sand and say go away that they stop the nonsense. I'm letting my Husband handle this at this point. First he did reverse his transfer this morning, he has to go back and try to explain that actually yes he does want the transfer. Assuming that goes well this other inspection stuff is off the table. Their realtor claims she told them NOT to come back at us with this stuff and yet they did it anyways. They don't seem to listen to much their realtor does tell them. I'm just emotionally spent....they want me out of my house in 4 weeks and we are dealing with this? Really?? I just can't take it.
Maybe add a $1000 to the contract price just for aggravation!
I should, I just got a call from my daughter's school she's crying in class over this... and I'm still waiting to hear whether my husband can get the transfer back in place. Who knew my daughter cared one way or the other? I had no idea.
Ack! I can hear the tension in your words, ML. Big hugs to you. What a disaster.
ML, so are these buyers back in as buyers or no? I was just wondering, if they are, about you being able to stay in your house until after your son's graduation, etc., instead of going to temporary housing?
I remember a poster from a few years ago whose buyer wanted to have the house a few days before the actual closing of it. Remeber that one, you guys? The seller actually allowed that though we kept telling her no and she was stressed to the max about it, saying something about she'd have to put a tent in the driveway.
It just seems to me, though I'm not in the real estate profession, that these buyers should wait for possession until it's conveient for you even if that means you rent your house back from them for the last few weeks.
I dunno. I suppose both parties need to be flexible but I'm only seeing you being flexible, not them.
Well this whole thing has turned into a nightmare. Yes, they came crawling back at around 10:30 this morning, we do not have signed documents with them currently, the document that is coming will state they have until May 3rd to withdraw the offer if radon is found, meanwhile closing is June 3rd. I haven't got a clue how this is going to work, and yes we have been a heck of a lot more flexible than they have been and no, there is no hope we can find a place to live in the timeframe given, it's not like we're moving somewhere where the rent is inexpensive and apartments are plentiful, far from it....
If closing is JUne 3, can you request to rent back the house until the middle of June? If not, where are you going to go for temporary housing? I think THEY should go to temporary housing.
Not that I'm mad at them or anything...
Yeh, we did ask about renting it back and they wanted five grand for the two weeks, I don't think so... They are currently in the cheapest extended housing around, they transferred in.
Meanwhile, I was able to get a local resort for 1K for the two weeks, but it is about 30 miles away. That seemed to be the best solution otherwise it would be very pricey here as well...
When we leave this temporary housing after our son's graduation I'm looking at housing solutions where we are going. I'm in a bad spot, it's just a matter how much risk we are willing to take on, and I've got to say with these buyers? Obviously not much thus our housing is going to be that much more difficult in the upcoming months.... I'm trying to get through one day at a time because I honestly don't think this thing is going to close... how many times can the realtors bring it back from the dead? I'm now letting my Husband handle anything to do with the sale, I'm exhausted from it already. I have no idea how or when I will pack a thing in this house.
5 grand for 2 weeks? They sure do have attitude! I would have taken the opportunity when they came crawling back to re-negotiate my chosen closing date. Best wishes for no more drama for you.....
They wanted 5k for 2 weeks? OMG!
That's what I thought... I really never should have gone for this sale, I should have continued showing the property, I am sure someone else would have put an offer in What does it say about these people, five grand for 2 weeks when they know my kid is graduating and I've had a surgical procedure... it is what it is, you take the buyer you have and not the buyer you want, the whole thing is lousy.... I'm glad you guys agree five grand was too much for two weeks It is a nice place, but it's not five grand for 2 weeks kind of nice IMHO.
Hmmm...the "no documents" thing cuts both ways. Is your realtor out shaking the tree in her network to let other realtors know that your house is still available???
MauiLuver, I've been following along just fine until now ~ now I am confused. You rejected their latest counter that contained unacceptable demands which you refused; the deal was d*ead and now, suddenly, it is back? With the same closing date?
So, what is the exact legal status at this moment? Do you have a binding contract or not? And, btw, I highly doubt that even if you do, that the closing will happen as scheduled since very few lenders move that fast anymore ~ a closing in LESS than 30 days? Doubtful...
At this point in time (unless you have documents signed by ALL parties to the contrary), I think I would tell the so-called prospective buyers that all other terms will remain the same EXCEPT that change of possession will now be June 30th if they still want to go forward.
Let them know it's what it is at this point - like it or lump it. They have led you down the fairy-path as far as you are willing to go; sounds like one or both of these buyers have been watching too many TV shows and believe that by being insistent on having their way, and only their way, they will get what they want in the end.
Time to either give in to them or make a stand. At this point, it is ridiculous that your dh has been second-guessing his transfer, you still have the medical issues to go through, your son has his graduation mid-June and your daughter is crying in school. Time to put an end to all of it ~ talk to your realtor re where you stand, legally, right now and then make your stand. Good Luck....
I totally, totally agree with IR. That closing date should be June 30. They really have put your family in a tizzy with all of these demands. It's YOUR home for right now, let the important things happen while you're still in it. 5K to rent the house back to you for two weeks? That is so utterly insulting.
If they walk, good riddance. You'll have another buyer in no time.
Well, the whole thing is a mess IMHO. Idaho resident, you're right, the deal was dead I walked away and they decided to agree to the terms I put out there. Then we had the pass/fail inspection and they came at me again, that's when I signed the paperwork to just take the house off the market, and actually they had 2 days or 48 hours to respond about the inspection, they did so at about 52 hours, so technically we could have told them to pound sand and kept their deposit.... my realtor then called me back later yesterday morning, they'd come to their senses and wanted to go back and retract their inspection fail, so there's another addendum. Everything got signed last night. These people are nothing but self centered entitled barely 30 somethings. My realtor was very nice about it, he said with his meeting with them on Sunday he found them to be very green in buying and a little out of touch, needing a lot of hand holding. My son had a different word for them, but he thought they were a few screws short of a full deck, I guess the questions they were asking drove him a little crazy and he was just over hearing the conversation.
The thing is, for us, even though it is horrendously inconvenient and almost unfathomable to be out of the house June 3rd, it's better for us in the purchasing department. The town we are looking at buying in you can't put in a reasonable offer with a home sale contingency. There are too many cash buyers. The sooner we close this place the better off we are in the long run even though it doesn't feel like it right now. I am going to send a message to the realtor and ask about the financing, they still have time to turn that around, 4 weeks I'm told is enough, but I'll just make sure on that.
I agree with you guys, the whole situation really stinks.... I just keep thinking to myself, take the buyer you have not the one you wish you had... it's my mantra at the moment.... it really does stink...
Yes, your mantra is good, in the end you will be happy you suffered through this. You really are in control, it just doesn't feel like it to you sometimes.
As you said. this will bring you to your goal.
May I again suggest that your realtor not rest on her laurels, but actively market your house within her network? Afterall, the radon contingency release isn't happening for 3 more days of prime real estate selling time and I wouldn't put it past these snowflakes to pull something along the way or on May 3rd. If your realtor has secured a few more showings, it could give you a better sense of security that your home will sell if things head south with these people(again).
MauiLuver, Think I am beginning to understand. As difficult as selling with a June 3rd possession date is with all of the personal reasons ~ it benefits you (no matter how difficult it might be to comply) if the closing is final on that date so you can proceed on the other end ~ buying your new home without the contingency of *must sell home first"
So, I get it... you are willing to put up with the demands from the potential buyers and the early possession date because it will benefit you in the long run. Sound thinking but let your son know why you are doing so and, I really hope that you talk to your daughter as well since you referenced, "who knew that she cared?"
Well, MauiLuver, you should. Not here to throw any stones and I think you have been over-whelmed the last couple of months trying to figure this out but maybe, someone has got lost in the shuffle? Not too late to get everyone on board with what is happening so that they will understand that what is hurtful on the selling end might be beneficial on the buying end.
I agree that your agent should continue to market your property if only for "back up" offers ~ IMHO, these "potential" buyers are f*lakes and I will be really surprised if this deal actually closes. Deals fall out all the time but your son shouldn't have the last few weeks of his high school years turned upside down, not to mention your medical issues, your daughter's upset and the fact that your dh actually reversed his transfer?
Something is wrong in Mudville to allow all of this to happen ~ think I would ask my agent to DEMAND proof of the "prospective buyer's ability" to perform before I would let this go on one more day. Best of luck....
Remember what I said...wishy washy buyers drive us nuts?
Where in the Realtor world do you continue with a contract, when inspections repair negotiations failed and deadlines passed? The contract is dead, but came back to life somehow, but not before your seller/( husband) client reversed his corporate transfer? Not on my planet.
Now what? Have they hired someone local for your husband's job yet? I say consult a Real Estate Attorney. Corporate world transfers require strong buyers...on both ends. Could it be your new city Realtor senses all this drama and is possibly "anti-contingency" as a result?This message has been edited. Last edited by: real estate lady,
You are right at that point there was no more contract once they drafted that notice (they didn't meet the two day timeline so we actually could have kept the deposit)... more documents were drafted when they came crawling back which put the initial document back in place. My husband was able to call and get the transfer back in place after a little cajoling....
The whole thing is driving me crazy, at least today I have no news...
As for our daughter, she's off at school, she has one foot out the door, I honestly didn't think she'd be affected by the move at all... she didn't say anything to the contrary, she is a bit conflicted as it turns out, she loves where we live but she loves where we are moving, although we won't have as nice a house there... right now she's doing better, I don't think either child likes this wishy washy business... that's just not the way we work!
Well that is great news - your family was able to
retrieve the original transfer. I wouldn't go there again. Okay so your transfer back on, your buyers are back on, and I would recommend a Real Estate attorney to take it from here...to closing....and out of Mudville - as IR calls it.This message has been edited. Last edited by: real estate lady,
Not so fast Real Estate Lady, we still have the radon report coming back Friday, apparently a few homes in the neighborhood have had radon and a few have not and some have been right next to each other! I figure this is the last time the buyers can give us a real headache.. But we'll see... I'm hoping for the best (no radon)
For certain we won't (or H won't) try to back out of the transfer,if these aren't our buyers we'll find someone else who doesn't give us such a headache....
I can say Mudville is a terrible place to be...
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