TWO, actually!!

Just spoke w/our agent who called the two buyers' agents while I was on the phone with him. The couple that looked at the house last night are talking with the lending agency today and hope to present an offer this evening!!

The clients who looked at the house a 2nd time on Sunday are out of town again until Monday, but their agent intends to present a verbal offer via email this evening!!! This won't be a written contract, but it will be the contents of the amount they want to offer, the date they want to close, etc!!

WAHOOO!!! Thank you for your prs and good thoughts!! None of this is any guarantee by any stretch, but sure is a welcome turn of the tide!!

Assuming both offers come in this evening, we will hear what they are tomorrow from our agent.

Of course, I have to work tomorrow from 9:30-2pm, so dh will take the call, but who cares! LOL

Jen

WOOHOO & WOOHOO...who says FLBOY'S FAIRY DUST doesn't work?? He should market that stuff!

CONGRATULATIONS...THIS IS SOUNDING LIKE IT IS GOING TO HAPPEN...SO HAPPY FOR YOU!

o/t: is the Comfort Inn snoring popup aggravating the youknowhwat out of anyone else besides me???

Peri -- I was wondering what that was, looked under the desk for my hubby but it wasn't him..and yes I'm annoyed.

What excellent news! Will send good vibes your way!

Use Mozilla Firefox. No pop-ups ever.

Jen - Are you in Cedar Hill? We are in Argyle.

JV, WONDERFUL news! Keep us posted!!!

JS - Yep!

That is awesome. That gives the rest of us some encouragement.

Ok, say we get an offer we like tomorrow...assuming the inspection and stuff goes well, how fast can you close?

Reading Peri's thread, 9/30 seems like a LONG time to wait to close. Is it possible to close in, like, 3 weeks?

Jen

It should be very dooable to get it closed within 3-4 weeks.

jvdeibel-
Terrific News!!! Couldn't ask for more-Two Offers!!! Eeny Meeny Miny Moe which one should I choose?!?!

quote:

Originally posted by jvdeibel:


Reading Peri's thread, 9/30 seems like a LONG time to wait to close. Is it possible to close in, like, 3 weeks?

Jen

Yes, I think they put that date in as the "maximum possible" time, I don't think they'd have an aversion to closing before that...the way I read it, it just is the date that it's all null & void if it hasn't happened by then.

Sometimes buyers and buyers agents use the "verbal offer" method to see how far you will come down without going thru the trouble of writing up the offer.


Tell your agent - you want all offers in writing.

I have been involved in verbal negotiations..then you never see the offer in writing - what a waste ----CA CA on verbals!

WE HAVE TWO OFFERS!!!!

We haven't heard what the one from the last minute showing last night is (just on css as I was heading to bed the agent put "submitted offer" so we should hear what that is first thing tomorrow).

The verbal offer is very low... $101,000, plus $6000 seller contribution, plus seller pays title fees, home warranty, and provide survey. If we accepted it as is, we'd be taking over $8000 to closing, which we don't have. In the net sheet the agent put in the $6000 amount twice - once at the commission spot and once at the "seller contribution" spot. SO, I'm not sure if they accidentally added the 6% commission twice or if they are asking for us to cover 6% of the $101,000. The offer in the email said, "Seller to pay 6% of buyer's closing costs" but no way does 6% closing add up to 6000, which is 6% of 101,000. So, we'll see.

I'm just extatic to have TWO offers to choose from!

Jen, I am just overcome that there are 3 of us (if I counted right) dealing with offers...and all this going down just in the last 3 or 4 days! And if Willow's offer comes thru...that makes FOUR of us. That's unreal after all these weeks!

Soooo happy for you, Jen...not uncrossing fingers & toes till we're all SOLD and CLOSED!

Peri - thank you!! I just finished reading yoru post and I can totally relate to your deflated feeling! I really hope the math is wrong. Why would they "offer" to pay $101,000 and then ask us to pay 6% of that? If that's what they wanted they should've just offered $94,000, you know?

REL - does it sound like that's what they're asking? On the email it said, "Seller to pay 6% of buyer's closing cost = $6060" then on the net sheet on "commission" our agent's office put $6060 then down on "seller's contribution" they put another $6060, putting our total payments at $14,XXX, which after we pay our principal mortgage balance, we'd owe at least $8000, possibly $10,000 depending on the type of loan they get. What do you think??

Jen

This message has been edited. Last edited by: jvdeibel,

If you have read what I said above before you posted about this.. "how low will you go" is the game on verbals. Many investors use verbals.

If the buyer is asking for 6% sellers' contribution that means their closing costs and prepaids(insurance and tax escrow set-up) are going to be paid by you and anything left over will go towards the down payment. I would guess they are first time homebuyers - they can only qualify X and they have very little money.

It is important for you to consult with your Realtor-- you may want to talk to your Realtor about putting it on a back burner for a day or two to see what else comes in -- before you counter.

Your Realtor will review you net sheet with you.
The real estate commission will be there on one line and on another place the 6,000 for sellers' contribution will show.

Ask for offers to be submitted in writing so you know what exactly is being offered. It is hard to try to negotiable thru flying phone calls.

This message has been edited. Last edited by: real estate lady,

"jv," So happy that you are excited and don't want to rain on the parade but you need to get everything in writing - NO verbal over the telephone even with your own listing agent!

Tell him or her that you need them to e-mail/fax the offer to you so you can take your time to review it and respond appropriately.

Just reviewed your latest post and have to say that I am a bit disappointed that your listing agent hasn't worked through the bottom line with you as to the consequences of accepting either offer.

Seems the only one making compromises is you and, maybe that is right if you are over-priced. On the other hand what are the Buyers, their agent, your agent bringing to the table?

Hope things go well for you BUT don't be in such a hurry to close by 7/31 that you give up more than you should. Good Luck and post back.

Jen...make that Realtor of yours take up some TIME with you and really LOOK at all this stuff you are facing! He's getting paid for his time...well paid. He works for you, don't be pushed to the back burner on this.

And I agree with REL, see what the other offer is before deciding anything.

I'm going to try & get some sleep...hope you can get some rest too, Jen...

sweet dreams, all!

Thank you all for your input!

We are MOST DEFINITELY waiting to hear what this other offer is, and it IS a written offer. We're really hoping its better.

I'm just still confused on how the $6060 "sellers contribution" adds up to the same amount as commission.

Here's copied what the email said:
Offer Price $101,000.00

Seller to pay for Title Policy

Buyer asks seller to pay 6% of buyer’s closing cost $6,060.00

Seller to purchase buyer Home Warranty Policy $380.00

Seller to provide or pay for survey $300.00

Buyer to place $500.00 earnest money in escrow with title company to be credited to buyer at closing

Buyer will pay a $50 option fee for a 10 day option period to be credited to buyer at closing

Closing date to be 30 days from contract execution date.

So....since it says "buyer asks seller to pay 6% of buyer's closing costs"...there's no way any fees, taxes, etc would add up to $101,000, which is what would make the "seller's contribution" 6% of the total offered price. So, are they asking us to pay 6% commission which adds up to $6060 AND PAY ANOTHER 6% of the offered price? So, they're asking us to pay ALL commission PLUS an additional 6%? Why???

Eagerly awaiting a phone call/email from our agent with this other offer, and so we can figure this out!!

Jen

This message has been edited. Last edited by: jvdeibel,

There is only one charge of 6% seller paying buyers' costs.

And one charge of commission - I believe you said your Realtors commission is 6%.

Have your Realtor e mail you the net sheet, so you can see your closing costs.

As I said the buyer may only qualify for X amount and that may be the reason you getting a low offer. In addition they may have little money and that is most likely why they are asking you to pay closing costs.

I have never heard of $50 option for 10 days with a standard sale, unless it is a investor wanting to flip your property.


Find out more about the buyer...and more about that option.

This message has been edited. Last edited by: real estate lady,

REL - I know there's only one charge of 6%, but the fact that the offer states "asks seller to pay 6% of buyer's closing costs" and they set THAT 6% equal to $6060, which is equal to the commission amount. So, on the net sheet they have us paying exactly $6060 twice. That's where I'm confused.

I really wish our agent woudl call!!

You are hung up on a math thing. Each is 6% so you end up with the same amount for each.

Eat some of Peri's Chocolate - and call you agent and have her send you over the net sheet.

Relax - go for a walk. If you have more offers coming in you should be clicking your heels.

Find out about this option thing, more about the buyer, and have your Realtor explain and go through the offer with you at your home over a cup of coffee.

This message has been edited. Last edited by: real estate lady,