Who's in "control": seller or listing agent? (rebate, sellers, standard)
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Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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For the OP. Your repairs to the drainfield, and replacing gutters (or even adding them if there weren't any before) aren't really considered improvements, they're repairs and part of the normal maintenance on your home.
The expiration date on the offer allows the buyer to be in the position of not accepting any acceptance or counter-offer from you if THEY choose not to. In other words, even if you didn't see or were told about the offer prior to it's expiration, the buyer has no further obligations to you unless they choose to look at a counter offer from you.
When you purchased the home, and you didn't get the items you mention, then that has no bearing on what the buyer is ASKING for now. Maybe you didn't negotiate hard enough, or maybe any of those things would have caused your purchase to fail. I'm very curious what pest repairs could have cropped up in only a year. Did you have a pest inspection when you purchased the property?
When I'm the listing agent, if I think an offer is fair, I'll tell the seller just that. If he chooses to ignore my advice, that's OK, but he does so at his own risk. Even if the seller agrees that the offer is fair, it doesn't mean we can't try and squeeze a bit more. If the buyer balks, then we know we've at least done our best.
For Lacerta; We definitely don't spend 18 hours a day in the office, it's more like 12.
We didn't repair the drainfield - we had to put in an entirely brand new one for $3,200. Also brand new gutters (home didn't have them $600) and new shed ($2,300), plus new dishwasher.
I understand they they have no obligation to respond to any counter we may provide. The point is that I didn't even get word of an offer until after the expiration time.
I have no idea if the two agents were "working behind the scenes" to get this offer as 'strong' as it is, or if that was just his excuse for being too busy with other stuff.
And yes, of course we had a termite inspection and it was clear. So why would I want to leave $500 for termite repair in there anyway? Why not just zero it out. I want to cover myself as a seller since there are already so many expenses.
We didn't repair the drainfield - we had to put in an entirely brand new one for $3,200. ....
Well, I assume the old drainfield was not in working order? Therefore, it is considered a repair to get a functional system.
In any case, the buyer is only going to consider how your house compares to other recent homes sales in determining their offer price. How much you paid for anything in the past is not relevant.
We didn't repair the drainfield - we had to put in an entirely brand new one for $3,200. Also brand new gutters (home didn't have them $600) and new shed ($2,300), plus new dishwasher.
I understand they they have no obligation to respond to any counter we may provide. The point is that I didn't even get word of an offer until after the expiration time.
I have no idea if the two agents were "working behind the scenes" to get this offer as 'strong' as it is, or if that was just his excuse for being too busy with other stuff.
YOu are working the wrong issue. Expiration of an offer is technical trivia. It goes away as soon as you counter.
There is nothing so far shown that your agent had any control over when he got it or when it was dated.
Now stop with the trivia and bottom line the deal. How much do you go away with? That is the only thing you care about. If it is enough take it. If not counter.
I don't think we are going to be able to sell this house now. First, when we listed, he told us it was worth up to $172k, then we listed for $169,900. (we paid $164k a year ago)
Based on one recent comp, our home could be worth as low as $155k. (and even lower if you take into consideration the foreclosure that is now under contract)
So much for "inventory being at 5 months level" in our area or prices are rising. There is conflicting information out there. I guess the bottom is still dropping out.
I'd rather just wait until the spring selling season again and see if we get that bounce again.
I don't think we are going to be able to sell this house now. First, when we listed, he told us it was worth up to $172k, then we listed for $169,900. (we paid $164k a year ago)
Based on one recent comp, our home could be worth as low as $155k. (and even lower if you take into consideration the foreclosure that is now under contract)
So much for "inventory being at 5 months level" in our area or prices are rising. There is conflicting information out there. I guess the bottom is still dropping out.
I'd rather just wait until the spring selling season again and see if we get that bounce again.
Only you know your personal financial situation. But be cautious. It is not clear it will be better in the spring. If you can afford to do it and sell now you turn into a buyer. And this is the perfect time to be a buyer.
So make sure you consider that you may well be worse off in the spring as the seller conditions can be worse and the buyer conditions also worse.
I don't think we are going to be able to sell this house now. First, when we listed, he told us it was worth up to $172k, then we listed for $169,900. (we paid $164k a year ago)
Based on one recent comp, our home could be worth as low as $155k. (and even lower if you take into consideration the foreclosure that is now under contract)
So much for "inventory being at 5 months level" in our area or prices are rising. There is conflicting information out there. I guess the bottom is still dropping out.
I'd rather just wait until the spring selling season again and see if we get that bounce again.
Did the agent you listed with give you the highest comps during the listing presentation of all the other agents?
How far off is the offer from what the agent originally said you might be able to get?
If it is a large difference did you ask him to explain why there was a large difference?
Prices in Florida may have stabilized in some areas and there may be a bounce in sales in the spring but you are not going to see a bounce in prices.
It is more likely that by your home being on the market for months longer that the offers you get will be lower than what you might get now even if prices do bounce a little.
When we bought, we didn't get any of that.[/quote]
Maybe you should've asked.
Going forward, just because the buyers are asking for all those items doesn't mean they should/will get them. That's where your listing agent's negotiating skills come in. Buyers these days are asking for the sun, moon and the stars. All very typical. However, there's nothing that says you can't do likewise in return.
I'm reminded of the old adage...the first offer is almost ALWAYS the best which is why your agent is most likely working this one so much. Ultimately, you have the right to turn it down, but don't until you've exhausted all negotiations.
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