Registered User
I agree with Lulu, we put in one offer and one offer only as that was our best offer and it happened to get accepted.
I would tell the RE agent if he wants it sold, then he can put in the whole $2k, and that the last offer was your best offer and leave it at that. Sounds like you aren't competing against anyone else - they don't have any other serious buyers, otherwise why would he keep coming back to you and pushing you for more money?
BellyBelly Member
well apparantly they cant take any other offers until they have either decided to or not to go with us.? thats what he told us anyway.
to tell you the truth we can afford the asking price, but really dont want to pay it if we dont have to.
we are first home buyers so the whole thing has been pretty daunting! LOL it seems that we somehow snagged a very complicated one for our first go!
Hi, I used to work in real estate too and unless things have changed in the last few years, the agent has a legal obligation to submit all offers to the seller from all buyers until the seller is in receipt of a signed contract and a deposit has been paid on the contract price. I have heard of agents making up the difference as I too have dropped my commission to get a sale but I've always had to put all offers to the seller, though they don't have to offer inspections unless the owners are really wanting other offers. It makes me think that there aren't any other interested people in this property and they are trying to make you pay top $$$ anyway. To be honest unless you really really love this property and are willing to pay for it, I'd walk away. It's a buyers market at the moment. Agents always mark up what a property is actually worth so if someone wants/needs $300,000 for a property it will be marketed at around $310 - 320,000 because hardly anyone offers what people are asking. When we buy our investment properties we only go as high as $5 - 10,000 less than what the agents asking and we make sure the owners/agents know that it's our final price and if it's not accepted we walk away and keep looking. You'd be amazed how many agents ring you back in a few days to say that the owners have reconsidered and now willing to accept the lower offer. Never pay full price unless you absolutely have to, while there are some great agents out there at the end of the day the more money a property sells for, a higher pay check they receive and if a property doesn't sell at all, they don't get paid at all for all the time they've spent doing opens and marketing the property unless they are on a wage and not commission based but most agents these days are commission based. I know from personal experience that sometimes you have to bend over backwards to close a sale otherwise you don't get paid and that can be quite tough when it's quiet on the market.
Registered User
what happened hun???
xxx
Registered User
Hun, my mum & dad just sold their house & they had one person hang on for months negotiating.
Eventually he refused to budge & so they dropped their price. It was around 20000 less than they wanted, but in the end they also wanted a sale.
I think stay where you are. Maybe tell them to take it or leave it. I've never heard of a RE doing that & I really don't think it'd be for your benefit if you agreed.
It sounds like they have noone else interested. Goodluck
Lucy in the sky with diamonds.
that sounds weird - usually they tell you there are 2 other couples who are putting in offers too.
Keep looking around, I don't like the sound of the RE agent. I got rid of one I didn't like because I didn't like the greasy bugger. I still bought the house at the price I was willing to pay....
Registered User
My way of looking at is 'What is $2 K when you are dealing with prices that are over $100 K?'. I say go with what you have put in and if this one bloke doesn't like it it's his problem. I mean if he is one of 3 people his cut would only be what, $666 there abouts (not much to get worked up over. It sounds a bit dodge to me, go with your gut instinct I say. Just make sure all structures are built to code and they have the paper work to prove. We once got jibbed with a veranda that wasn't to code and the fine was HUGE!!!!!
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