We spent two hours this morning going over paperwork for our offer. After crafting it, the sellers’ agent called and told us he’d “be right over” to pick it up. “Be right over” turned out to be three hours later, at which point the negotiating fun began. The cellphone was ringing off the hook!
Mary, our agent, soon called us and gave us the details of their counteroffer. After talking it over, we sent in a new offer, meeting all of the sellers’ terms. Mary was then going to bring the paperwork by our home tonight for us to initial. It looked like we had done it.
She got as far as our house before her cell phone rang again. Ten minutes later, she comes in to tell us the bad news: two other offers were put in and were being considered. Our hearts sank at the news.
Mary went over with us the various considerations at this point. We talked it over and came up with what we consider our best offer. The terms were relayed to the sellers’ agent and we expect an answer by tomorrow night.
What seemed so ours just hours ago is now up for grabs. The sellers’ agent couldn’t believe it, even. He remarked that the house was on the market for ten whole months and in one weekend alone, three offers come in.
We were smart to fill out the paperwork as quickly as we did. Now let’s hope we’ve got what it takes to make it ours.
aren’t you technically under-contract with the seller when they make you a counter offer?? I thought if a seller made a counter offer they are stuck with you until you either agree to their terms or terminate the contract.
Good luck… Let me know if you need me to cut someone’s hamstrings.
Not necessarily. We got their terms over the phone, and it could have been phrased to our agent as “though this is not a counteroffer, we would respond to an offer which includes the following…” Weasel words like this get tossed around all the time.
We never heard “we agree” from the sellers regarding our first offers. They were initialed but not signed. The intruding agent latched on to this technicality to throw her client’s offer into the ring.
There are so many ways to play this game that nothing is ever sure until after closing … and maybe not even THEN. Makes me wonder if Kelly and I actually own our current house after five years.
Oh yeah. Silly me! The bank owns it. They just let us live there.
Pardon my cynicism, but these counteroffers could be a ploy by the seller to drive up the price. It’s a risky venture on their part, but it wouldn’t surprise me. Did your agent check that the house actually was put on the market 10 months ago?
No doubt about the home being on the market for 10 months. My agent printed out the MLS changes on it since then. It initially was priced too high, and was dirty, too. Since then, the sellers have gotten more serious. The price has dropped considerably from where it started 10 months ago.
Do the other offers exist? I wondered that myself, but our agent believes the seller’s agent is honest and ethical. The real estate world is a small one and word would quickly get around if he wasn’t.
Where in Windsor Forest is the house? My brother-in-law was putting a bid on a house yesterday. That would be freaky if you guys were both bidding on the same house.
– Jacob
Ours is 8321 Hobhouse. Is that it?
Jacob, can you send me a copy of the convenants? Use markt at markturner dot net. Thanks!