Offer on overpriced home? (seller, loan, sales, value)
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I guess it was stupid to call this agent. I just didn't want some realtor hounding me and I didn't think she would. I am in a quandary. My realtor friend from out of state says my agent should be calling the seller's agent feeling them out and seeing if making an offer would even be reasonable. She has been emailing her and texting me. I think she is afraid to deal with that agent because she is much more experienced and has worked in the area for probably 30 years. This lady is young and only became a realtor to sell her husband's (a builder) properties.
I don't understand this paragraph at all... Who was going to hound you? Choose a good agent, and have them contact the seller's agent and further advise you. Be up-front with the people who are working for you if you want the best work.
I have gone to look at houses over the years in open houses, for example. The realtor gets your name and starts calling you. Please don't act like I am being ridiculous. We all know this happens.
So I just got further confirmation that my gut about MY realtor is right. She texted and said she is 'reaching out to other agents in her office to get an opinion of value' and this confirms my suspicions that she doesn't feel comfortable with this whole situation enough to play hardball for me.
Your first post indicated you had a long time relationship with someone... not just someone you met at an open house " I have been working with a realtor but since I have been looking for so long, I just called a local realtor who I knew would keep quiet."
It's not that I think you're ridiculous, it's that I don't understand these relationships as you're trying to describe them.
Hope you get some good help in whatever you're able to do.
Ok, sorry I wasn't clear. I have been looking in my area for 12 years. My husband flat out didn't want to move and frankly, we couldn't afford to move until recently. Often I would just pop into a house when I saw something that interested me. Early on, I told a realtor that we weren't really looking and she started kind of hounding me. It left kind of a bad taste for me. So from then on, I signed in but didn't give contact info.
So only very recently, I wanted to get inside a house that I saw listed and I called a local realtor that I trusted not to be a big mouth. So she has literally shown me 4 houses in the last 4 months or so. So it's not really a long term working relationship although I have known her as an acquaintance for probably over 10 years. The last two I looked at, I knew one of them was the house I had been looking for for all this time. But again, the timing wasn't right. And now, my husband agrees that at the right price, he is in.
I spoke with the realtor a little bit ago and she is putting in a call to the seller's agent. I can tell she is uncomfortable doing it, but hey, that's what she gets paid for. The comps support us.
1. If you have not signed anything binding you to your current agent, get a new one. Find the most experienced agent in the same agency and use their services.
2. If you have signed, then go to the managing broker and request a new agent.
You need an expert. You are planning to offer 75% of asking price. That is a bit more than normal.
It sounds like your realtor doesn't want to present your offer since she fears a lowball offer will close the door to any negotiation with the seller. And the first post indicates that you really want the house and want it real cheap but haven't made up your mind, even suggesting you would offer at the listed price. She should've suggested an offer price that would move it toward a sale.
The facts of the real estate board is that buyers try to talk down price to other posters and sellers try to talk them up, all to no avail.
It sounds like your realtor doesn't want to present your offer since she fears a lowball offer will close the door to any negotiation with the seller. And the first post indicates that you really want the house and want it real cheap but haven't made up your mind, even suggesting you would offer at the listed price. She should've suggested an offer price that would move it toward a sale.
The facts of the real estate board is that buyers try to talk down price to other posters and sellers try to talk them up, all to no avail.
So I called my realtor yesterday and we had a talk about it and I told her she needed to CALL the listing agent instead of emailing her. She did and the realtor used a two year old comp to support her value. My realtor found a two year old comp that blows her two year old comp out of the water. Either way, her value is ridiculous and nothing supports it.
She said they would not take an offer of $x which is around what I think it's worth, and my husband (who I knew would do this) thinks it's worth even less than I do. So I am not going to make an offer now.
I was speaking to an acquaintance this morning telling her about the situation and she said that realtor is notorious for overpricing things and then letting them sit for a long time. She said she had listed with her back in 2010 even though she wanted to use a different agent. She said it sat and sat and then they finally used a different agent and it sold. She said that another person who used her had their house sit on the market and had an offer and that they sold it a year later for $150k less than the offer.
And the first post indicates that you really want the house and want it real cheap but haven't made up your mind, even suggesting you would offer at the listed price. .
I am not sure I understand this. I am not trying to get a steal or anything here. I would not offer close to the listing price. It's not worth even close to it. The 25% is not me trying to lowball anyone. I used to be an appraiser. I KNOW it's not worth her listing price.
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