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.
This is almost unheard of, to be fair. You are making this personal when it isn't. These buyers are doing nothing out of the ordinary and your agent is doing a shitty job of explaining that to you.
You also said their offer was above asking and the other offers were less than asking. So perhaps their $5K request for repairs would actually make their offer right on par with the other offers. And who's to say those other lower offers wouldn't have also requested repairs, resulting in a lower overall offer compared to this one.
This whole process would be a whole lot less stressful if you would just accept that this is how home sales work, and that they're not trying to scam you.
It's like a game of playing poker. You have to decide fold or call their bluff.
I remember being annoyed that our buyer wanted us to replace all the outlet covers. There was nothing wrong with them. They wanted bright white and ours were off-white. I said no to that and they bought the house anyway. It wasn't a money issue, it was just another stupid errand to the hardware store and some of my time to replace them...I thought it was ridiculous.
Post by themysteriouswife on Jun 1, 2015 17:27:46 GMT -5
This sounds like typical house selling to me. As everyone has said, this is not a personal attack. It's part of the process. Say no to the silly stuff and yes to minor things.
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.
I agree that a home warranty should solve the issue of the A/C... If it's working just fine, the buyers are crazy to ask to have it replaced. And come on, to the oven. Like the buyers couldn't see that it was old or whatever when they walked through.
But, I must disagree with the bolded. Cosmetic issues are easily seen when the house is viewed, and in my opinion the offer should be for the house as-is. The inspection (and thus the inspection objections) is to look for issues a layman might not notice/be aware of.
OP, I'd offer a home warranty and to repair anything on the list that is a legitimate safety issue (but I don't there is anything if you already had it inspected and repaired) and call it a day. They can walk if they want.
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.
Mostly lurker here, but I totally understand your frustration. When we sold our house last year the couple put in an offer and their realtor said, "please counter us." We ended up a few thousand less than asking on the first day. Then after inspection, they asked for $16,000 worth of repairs, credits, etc. SIXTEEN THOUSAND DOLLARS. Um, no. And it was stuff like regrading the driveway (aka, landscaping), water in the basement (the basement was always dry except the day they brought someone by to look at it, the entire city was flooded and there was a little water down there). It was insane and made my blood boil. Eventually H and I just had to decide what was worth losing the sale over and what wasn't. Once you find that price or that line, stick to it and whatever happens, happens.
I'm with you, though, the nickel and diming I just can't stand. When we are buyers that's not how we operate so I get irritated when others do. Good luck.
Mostly lurker here, but I totally understand your frustration. When we sold our house last year the couple put in an offer and their realtor said, "please counter us." We ended up a few thousand less than asking on the first day. Then after inspection, they asked for $16,000 worth of repairs, credits, etc. SIXTEEN THOUSAND DOLLARS. Um, no. And it was stuff like regrading the driveway (aka, landscaping), water in the basement (the basement was always dry except the day they brought someone by to look at it, the entire city was flooded and there was a little water down there). It was insane and made my blood boil. Eventually H and I just had to decide what was worth losing the sale over and what wasn't. Once you find that price or that line, stick to it and whatever happens, happens.
I'm with you, though, the nickel and diming I just can't stand. When we are buyers that's not how we operate so I get irritated when others do. Good luck.
Lol, you really can't be upset about potential buyers being concerned about water in the basement, when there was in fact, water in the basement!
It basically came in under the garage door. As a buyer, I would not have been concerned about it that particular day in our town because many main roads were under water. Plus, I'm of the mindset that inspections are there to tell you whether or not you want to buy the house and take on the issues, not a chance to make the sellers fix every single thing. Yes, a credit here or there for major things, but not 100% of every single thing you can find. Maybe that's just me.
Post by imojoebunny on Jun 1, 2015 17:51:31 GMT -5
Say no. My neighbors told their buyers, who wanted $1800 on a house in the high $800k to stuff it, and they still took it. I gave it to our buyers because I didn't want to be a jerk, but the little our buyers ask for was completely legit. We sold the same week as our neighbors, and both had lots of offers, which sound like your situation. I am assuming that if you had 72 families, you had other offers? Tell your realtor no,
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.
It sounds like they really want the house. Accept what you want, decline what you don't like and they will take it or leave it. If they really want the house they'll deal with it.
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.
huh. I have never ever heard of this. Usually one of the reasons for the waiting period is to do the inspection and renegotiate.
Lol, you really can't be upset about potential buyers being concerned about water in the basement, when there was in fact, water in the basement!
It basically came in under the garage door. As a buyer, I would not have been concerned about it that particular day in our town because many main roads were under water. Plus, I'm of the mindset that inspections are there to tell you whether or not you want to buy the house and take on the issues, not a chance to make the sellers fix every single thing. Yes, a credit here or there for major things, but not 100% of every single thing you can find. Maybe that's just me.
Not knowing where you live, even if normal for your town and that particular day(), I would be running from a house that had water in the basement.
You also said their offer was above asking and the other offers were less than asking. So perhaps their $5K request for repairs would actually make their offer right on par with the other offers. And who's to say those other lower offers wouldn't have also requested repairs, resulting in a lower overall offer compared to this one.
This whole process would be a whole lot less stressful if you would just accept that this is how home sales work, and that they're not trying to scam you.
No. The other offers were also above asking. We were advised to intentionally set the price low to create a bidding war, so the offers were all high.
I don't think I'm being scammed and I know this is how these things go. I just don't like it.
All agents have an axe to grind - they work to get paid and that influences them at times. You have to be your own advocate. You know what they're asking for is BS and you know you don't want to lower the price. If you are willing to risk them walking away then stick to your guns, otherwise you can cobble together your own compromise.
It basically came in under the garage door. As a buyer, I would not have been concerned about it that particular day in our town because many main roads were under water. Plus, I'm of the mindset that inspections are there to tell you whether or not you want to buy the house and take on the issues, not a chance to make the sellers fix every single thing. Yes, a credit here or there for major things, but not 100% of every single thing you can find. Maybe that's just me.
Lol, easy for you to say, you were the seller here. Yes, that's what inspections do, I was just commenting on your annoyance that the buyers were concerned about visible water in the basement.
Yeah this is weird. What normal person wouldn't ask that water be removed from a basement? Water getting in a basement isn't normal.
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.
LOL at inspections before offers. Um, those inspections aren't free. Especially in a seller's market, do you know how many offers people make sometimes before they finally get lucky and get the house? I made offers on 5 different houses before I bought mine. I'd have been pretty pissed if I'd spent $500+ on an inspection for each one only to not even have my offer accepted.
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.
huh. I have never ever heard of this. Usually one of the reasons for the waiting period is to do the inspection and renegotiate.
We are in a super hot market and preinspections are super common. It allows you to waive the inspection contingency to make your offer stronger. Offers with an inspection contingency are DOA in multiple offer situations here.
huh. I have never ever heard of this. Usually one of the reasons for the waiting period is to do the inspection and renegotiate.
We are in a super hot market and preinspections are super common. It allows you to waive the inspection contingency to make your offer stronger. Offers with an inspection contingency are DOA in multiple offer situations here.
We are also in a hot market, and there is no way I'd have the time to do an inspection. by the time I got my inspector out there, it would be under contract. Things in our price range go in a day, or even pre-market.
eta: I'm not saying I don't believe you, for the record. I just find the whole process intriguing.
I get that buying and selling a house can get emotional. We have never sold, but even as buyers, the whole negotiating game was emotional because I want this house, damn it! You know? Of course you get invested in it and probably even more so as a seller selling the house you've lived in for awhile.
But this is pretty normal. Try to not take it personally and just think of it like the business transaction it really is. Honestly, as the buyers, we asked for extra things (not related to a home inspection, but extra things like throwing in the wall-mounted TV downstairs, etc) to see if anything would stick. The sellers could tell us no, and OK. Then we have a decision to make. But may as well ask, right? I feel like that's what they are doing here. Of course if your stove works perfectly fine and they just want a different one you don't have to give in. Just decide what you're comfortable with and go from there.
We are in a super hot market and preinspections are super common. It allows you to waive the inspection contingency to make your offer stronger. Offers with an inspection contingency are DOA in multiple offer situations here.
We are also in a hot market, and there is no way I'd have the time to do an inspection. by the time I got my inspector out there, it would be under contract. Things in our price range go in a day, or even pre-market.
Our market does some pre-market sales. Otherwise the houses list on Thursday or Friday and the seller typically doesn't review offers till Tuesday, so people see the house Thu/Fri/Sat and do inspections Sun/Mon. Here sellers seem loathe to take an offer before the house has been on the market over the weekend (and agents advise against it) because they know if they wait they will probably sell higher because of multiple offers and bidding wars, and because they are actively hoping for the contingency-free offers (waiving appraisal and financing are really common too).
It sucks as a buyer. I am ready to throw in the towel.
We are also in a hot market, and there is no way I'd have the time to do an inspection. by the time I got my inspector out there, it would be under contract. Things in our price range go in a day, or even pre-market.
Our market does some pre-market sales. Otherwise the houses list on Thursday or Friday and the seller typically doesn't review offers till Tuesday, so people see the house Thu/Fri/Sat and do inspections Sun/Mon. Here sellers seem loathe to take an offer before the house has been on the market over the weekend (and agents advise against it) because they know if they wait they will probably sell higher because of multiple offers and bidding wars, and because they are actively hoping for the contingency-free offers (waiving appraisal and financing are really common too).
It sucks as a buyer. I am ready to throw in the towel.
Lol, easy for you to say, you were the seller here. Yes, that's what inspections do, I was just commenting on your annoyance that the buyers were concerned about visible water in the basement.
Yeah this is weird. What normal person wouldn't ask that water be removed from a basement? Water getting in a basement isn't normal.
sure it is, that's why they make sump pumps. In some towns everyone gets some water in the basement. It's why most basements aren't finished here.
I think if I had been in the house before, knew that the area had an abnormal amount of rain, and could clearly see that it had come in under the garage door vs. leaking in from all sides, it wouldn't be an issue.
If it was a basement that frequently has water in it, I would do everything I could to learn more about the nature of the water, the systems in place to remove the water, and have a mold inspection done. (slow market privilege).
Yeah this is weird. What normal person wouldn't ask that water be removed from a basement? Water getting in a basement isn't normal.
sure it is, that's why they make sump pumps. In some towns everyone gets some water in the basement. It's why most basements aren't finished here.
I think if I had been in the house before, knew that the area had an abnormal amount of rain, and could clearly see that it had come in under the garage door vs. leaking in from all sides, it wouldn't be an issue.
If it was a basement that frequently has water in it, I would do everything I could to learn more about the nature of the water, the systems in place to remove the water, and have a mold inspection done. (slow market privilege).
Right, so if I were the buyer I might ask for a sump pump to be installed and/or investigate the issue a little more. She said she was annoyed that the buyer was questioning water in a basement, which I don't think is an unreasonable thing to do as a buyer. A sump pump often fixes the problem so that's wgat I meant when I said water in a basement isn't normal. I guess I should've phrased it to say water in a basement with no solution isn't normal. Most people I know don't just let water accumulate in their basement.