Post by Captain Serious on Jun 1, 2015 16:09:49 GMT -5
I am so mad right now. The people who are supposed to buy our house are asking for what seems completely unreasonable repairs or credits now that they had the inspection done. Mind you, we had our own inspection done this Spring and fixed everything that could cause a problem with a sale because we wanted a quick sale.
They are asking for a new A/C system because they think ours is too old, but it works really well. They declared our oven "unusable" which is absolutely ridiculous. They just want to switch to gas, so they want us to pay for their new oven. They want us to fix the patio, which is a little uneven in one corner because there is a tree root growing under. Short of removing the tree, the only fix is to remove the pavers entirely. It goes on and on.
I am so mad because I feel like they made the really high offer without any intention to pay that amount. They just wanted to secure the house for themselves (we has three offers and 72 families view the house in the first weekend) while they complied a list of things to use add bargaining chips to get the house for a much lower price. I feel so dupped and want to talk away from the deal.
I'm sorry. If you are already feeling like you want to walk away from the deal, just say "no" to everything and force their hand. Your realtor should be able to guide you through what is reasonable (health and safety items) and what is ridiculous (A/C and oven replacement when they are perfectly fine).
Post by EmilieMadison on Jun 1, 2015 16:16:15 GMT -5
You aren't being duped. Stop taking it personally, and dont be furious. This is simply part of negotiations.
The ball is in your court, here. If you dont want to make these repairs, then say no with the understanding that they may choose to walk away from the sale. You should also consider whether it would actually be cheaper in the long run to pay for the repairs (or some of them- again, this is negotiation) as opposed to putting the house back on the market, paying the carrying costs, and waiting for a new buyer.
Post by Captain Serious on Jun 1, 2015 16:19:36 GMT -5
They came to the open house without a realtor, so my realtor is representing them, too, and wants the sale to go forward so they can get both sides. They (it's a team if two realtors) told us to decide to what items we want to fix, credit, and say no, and see how the buyers respond. My husband and I will do that tonight, but if they push back at all, I won't be happy.
I'd start pushing back to your realtor, then. Unfortunately, he/she became much less useful to you when you signed the agreement. If you are unwilling to agree to any of the demands, tell the realtor that and suggest that the buyers walk while you relist and the realtor contacts the other 70 couples to let them know that the house is available.
They came to the open house without a realtor, so my realtor is representing them, too, and wants the sale to go forward so they can get both sides. They (it's a team if two realtors) told us to decide to what items we want to fix, credit, and say no, and see how the buyers respond. My husband and I will do that tonight, but if they push back at all, I won't be happy.
You need to take a step back, here. If you have anger, direct it at your agent. Your agent is more interested in collecting the full commission than solely working on your behalf as a seller. And the buyers are in the same boat! They are basically acting in their own interest and without real guidance, since the dual-agency isn't really in either of your best interests.
All I can tell you is that if you're willing to walk away from this sale for what may be a few thousand dollars and feeling hurt, then that's your choice. Definitely counter this with what you feel is fair, and if that's nothing, then counter with "no repairs". You may also want to call your agent's broker and tell them you'd like someone to represent you or the buyers since you dont feel like your agent is able to be impartial by representing both parties.
I'm sorry. That's really frustrating. I despise dual representation. Decide what you're willing to do and stick to your guns. If you had multiple offers, do you know the status of the other potential buyers? Ask your agent. Even if he/she won't be much help because of the dual representation, at least he/she will know you're OK with walking away from the deal, if necessary,
They came to the open house without a realtor, so my realtor is representing them, too, and wants the sale to go forward so they can get both sides. They (it's a team if two realtors) told us to decide to what items we want to fix, credit, and say no, and see how the buyers respond. My husband and I will do that tonight, but if they push back at all, I won't be happy.
You need to take a step back, here. If you have anger, direct it at your agent. Your agent is more interested in collecting the full commission than solely working on your behalf as a seller. And the buyers are in the same boat! They are basically acting in their own interest and without real guidance, since the dual-agency isn't really in either of your best interests.
All I can tell you is that if you're willing to walk away from this sale for what may be a few thousand dollars and feeling hurt, then that's your choice. Definitely counter this with what you feel is fair, and if that's nothing, then counter with "no repairs". You may also want to call your agent's broker and tell them you'd like someone to represent you or the buyers since you dont feel like your agent is able to be impartial by representing both parties.
The problem is, I don't think they are looking for just a few thousand. I really think they are trying to get more than $5,000 off the cost.
You need to take a step back, here. If you have anger, direct it at your agent. Your agent is more interested in collecting the full commission than solely working on your behalf as a seller. And the buyers are in the same boat! They are basically acting in their own interest and without real guidance, since the dual-agency isn't really in either of your best interests.
All I can tell you is that if you're willing to walk away from this sale for what may be a few thousand dollars and feeling hurt, then that's your choice. Definitely counter this with what you feel is fair, and if that's nothing, then counter with "no repairs". You may also want to call your agent's broker and tell them you'd like someone to represent you or the buyers since you dont feel like your agent is able to be impartial by representing both parties.
The problem is, I don't think they are looking for just a few thousand. I really think they are trying to get more than $5,000 of the cost.
So say no? I just dont understand the outrage you feel. You can say no to their request, you can pay for all of it, or you can meet them in the middle.
Post by thatgirl2478 on Jun 1, 2015 16:52:39 GMT -5
Oh man, that would piss me off too!
When we sold our house, the buyer came back with a page and a half of 'demands'. Most were things that were common to old houses and grandfathered in. A few were things that needed repair - but some were just ridiculous. Our attorney responded with 'no' to everything and said that we were happy to discuss a more reasonable list. They came back with a smaller, but still ridiculous list. We said no to the ridiculous stuff and fixed some things.
Our buyers wanted us to run electrical service to the garage (never had it), add HVAC ducts to the attic (never had it), add HVAC returns to the 2nd floor rooms (the central one was sufficient), and rewire the house. We said no to all of that.
In a house purchase, I expect safety issues repaired, and possibly things that are cosmetic like cracks in walls or damaged floors. So the corner of the patio is a maybe. If the inspection showed the a/c & oven work fine, offer a home warranty. Then tell your realtor if they want the sale to pay for the warranty out of their commission. It's a business negotiation with the buyers, and with the realtor.
We were already planning on offering a home warranty, although we didn't tell them that yet. I didn't think about offering this in our response. That's a good idea. I never would have thought about asking the realtor to pay for it. Is that something that's done.
Post by mrs.jacinthe on Jun 1, 2015 16:54:28 GMT -5
You're within your rights to tell them no. And honestly - I'd say no. I'm guessing they figured "can't hurt to ask". I'd just say "no repairs or replacement of useable/serviceable equipment and no repairs/replacement of cosmetic issues."
The problem is, I don't think they are looking for just a few thousand. I really think they are trying to get more than $5,000 of the cost.
So say no? I just dont understand the outrage you feel. You can say no to their request, you can pay for all of it, or you can meet them in the middle.
I get that you don't understand how I'm feeling. It's just that we had other good offers. One was going to be 20% down in cash. From the very beginning, these people have been pressuring us with comments like, "we hope you appreciate that we didn't delay at all in giving you an offer well above asking" and "We are very much in a rush and understand that it's an older house that will need some repairs and upgrades. We don't care. We just really want this house and want our children in this school district." So we felt good about accepting their offer, thinking there was a mutual understanding that older homes (built in the 50s) come with some required maintenance.
Now I feel like they just wanted us to take the house off the market and they are trying to negotiate down to the level of the other offers. I feel like they lied to us about what they are willing to pay to make us stop showing the house so there would be less competition, and now they feel we are locked into only negotiating with them.
Except I know I have other options, and I may walk right away to one of them.
I had a client in a similar situation regarding an AC on its last leg. The house was completely updated otherwise and we also had multiple offers. I countered and provided them with a home warranty so when the AC actually broke down they could get it fixed or replaced with little out of pocket costs. They tried to push back and I strongly reminded the agent that they could take it or leave it because we had other options. They backed down and took the warranty.
Remember, your agent wants to keep it together too. That can work in your favor as you respond. Be firm about what you will/won't do and they will be incentivized to get the buyer to be more realistic. Also, don't forget, the grass isn't always greener on the other side. Be realistic, someone else may ask for more, not offer as much, have financing difficulties etc.
When we sold ( hot market) they asked us to replace the roof. The roof was 7 years old and had never had an issue, but there was one part that was flat ( majority was pitched) and the inspector said it wasn't an ideal material for a flat roof and could potentially cause problems . So they asked us to replace rhe whole roof. WTF??
Once I got over taking it personally and yelling about them to DH we took a deep breath, said no to all unnecessary requests, but yes to all safety issues (a few minor thjngs like the garage door sensor wasn't working). They agreed. They just wanted to see what they could get .
Oh, and joke was slightly on us because one of their requests we denied was to replace our hot water heater ( they asked because it was at the end of average lifespan). We said no - there has been no issues. Guess whose hot water heater then died 2 weeks before closing and we had to pay for a last minute replacement?? Lol
Like PP's have said: this is part of the process. It's just business.
If it's any consolation, the inspector is coming over to my house on Wednesday. I'm preparing myself to be Zen when the potential buyers come back to me. lol
"Why would you ruin perfectly good peanuts by adding candy corn? That's like saying hey, I have these awesome nachos, guess I better add some dryer lint." - Nonny
Like PP's have said: this is part of the process. It's just business.
If it's any consolation, the inspector is coming over to my house on Wednesday. I'm preparing myself to be Zen when the potential buyers come back to me. lol
I guess I just can't relate. When we really wanted a house, we had it inspected before we made an offer, and our offer took into account everything we felt was an issue. The sellers knew we were serious because we already had the inspection done and paid for, so they countered and we reached a fair deal, easy-peasy. This nickel and diming bs is ridiculous. It sets people at odds when they don't need to be.
How much was their offer above other offers? If it was considerably higher, just consider that their offer was more in-line with the others. I get your frustration, but if you can still get more from their offer while doing some of the repairs, you're still money ahead.
In a house purchase, I expect safety issues repaired, and possibly things that are cosmetic like cracks in walls or damaged floors. So the corner of the patio is a maybe. If the inspection showed the a/c & oven work fine, offer a home warranty. Then tell your realtor if they want the sale to pay for the warranty out of their commission. It's a business negotiation with the buyers, and with the realtor.
We were already planning on offering a home warranty, although we didn't tell them that yet. I didn't think about offering this in our response. That's a good idea. I never would have thought about asking the realtor to pay for it. Is that something that's done.
I know realtors who have cut their own commission when parties aren't far apart but neither will budge. So anything is possible.
How much was their offer above other offers? If it was considerably higher, just consider that their offer was more in-line with the others. I get your frustration, but if you can still get more from their offer while doing some of the repairs, you're still money ahead.
It feels shady on their part, though.
This is what I'm trying to figure out. I'm getting the feeling that we might not get more if we stick with them.
Like PP's have said: this is part of the process. It's just business.
If it's any consolation, the inspector is coming over to my house on Wednesday. I'm preparing myself to be Zen when the potential buyers come back to me. lol
I guess I just can't relate. When we really wanted a house, we had it inspected before we made an offer, and our offer took into account everything we felt was an issue. The sellers knew we were serious because we already had the inspection done and paid for, so they countered and we reached a fair deal, easy-peasy. This nickel and diming bs is ridiculous. It sets people at odds when they don't need to be.
Granted, but you simply must let this go. It'll eat you up and keep you from making good decisions.
"Why would you ruin perfectly good peanuts by adding candy corn? That's like saying hey, I have these awesome nachos, guess I better add some dryer lint." - Nonny