The responses are coming too fast & too furious. I intended to respond to REO & three other responses have come in since I hit “respond”. If this keeps up I will be unable & unwilling to post here any longer. This site is becoming too popular, and I’ve got to work.
“Great having you on here infowell Sorry we disagree on this topic!!!”
I am humbled Sir!!!
“How many times have you seen the purchase price increased in return for seller paying the buyer’s closing costs?”
Good point…you’re not a slacker! However, keep in mind an appraisal is an opinion. If you give three appraiser’s the same assignment…the likelyhood of all three delivering a different opinion of value is great. THERE IS NO RIGHT OR WRONG PRICE. Morover, if you utilize three Automated Value Modules (AVM’s) the likelyhood of them delivering differing valuations is also great.
So it hasn’t been uncommon to have the sales price increased, and the seller pay closing costs. However, this practice is coming under increasing scrutiny. Further, in hot markets the sales prices are being bid up so it wouldn’t be prudent to ask the seller for closing costs.
“I am making a mood point to say that it is unfair that when you have a contract that is at the point of acceptance and you know it going to be accepted,you are then a pawn to that listing agent,for selling you off for not more money or higher acceptance but for personal well being…”
Again…I’m having a hard time following your posts. Let me make some assumptions and say, ‘fair & unfair is all a matter of perspective.’ The contract can be at any point between submission & “the point of acceptance” but, if it hasn’t yet been accepted…it hasn’t yet been accepted. If there’s a lot of interest in a property…the Listing Agent could advise their client that more offers maybe coming in. If the time of acceptance expires…the offerer always has the option of walking. The Listing Agent’s JOB is to get the best offer possible for their client…The Seller.
Sometimes people become VERY emotionally involved. They get upset when their offer is not the one accepted. Rather than understand the process…they look to place blame (a BIG problem in our society).
I’d recommend detaching oneself from the process until the offer has been accepted. Then understand there are always bumps in the road, and rather than come unraveled…step back & consult your Agent for possible remedies.
I don’t know the particulars of Savannah’s offer, and I’m not Savannah’s Agent. As suggested previously…consider speaking to an Attorney or The Department Of Licensing. This way you’ll have some clarification.
“…and don’t tell me that you realtors do not do this!!!”
Of course we attempt to get the best offer for our clients. Our last four listings all sold under 5 days w/multiple offers. I can say, and disclose anything that is legally permissable, and that my client gives me permission to say that will bring them the greatest possible profit.
THAT’S OUR JOB!
On our last four listings there were 12 offers combined. That means there are eight parties out there that probably think I’m a dirty *@!&. The four seller’s–on the other hand–think I’m a great, and will give me referrals.
This is the nature of the business. This is why I won’t lower my commission (special circumstances aside). This is why professional real estate services are so expensive. We live in the most litigious society on the planet at any given time in history. All it takes is one disgruntled buyer or seller to wind up in court.
For what it’s worth…