Annoying Sellers

[DougEMG]

Made a couple of new offers this morning. On two of them, the seller countered and I accepted. Then a couple of hours later both sellers changed their mind and wanted more (each of them wanted around $1,200 more).

First time I've ever had this happen to me and then twice in one day. Either they can't read, they can't do math or they can't read and do math.

 

[Tunseeker1]

I had it happen once during offer stage. Then they relisted higher.

 

[goldenears]

Made a couple of new offers this morning. On two of them, the seller countered and I accepted. Then a couple of hours later both sellers changed their mind and wanted more (each of them wanted around $1,200 more).

First time I've ever had this happen to me and then twice in one day. Either they can't read, they can't do math or they can read and do math.

That is frustrating. I feel your pain

 

[heynowirv]

That's pretty amazing and bad luck.I can't imagine giving someone what they want and then having them so ,,,,"No Thanks" twice. They sound like 5 yr. olds.

 

[manning]

Did you have a signed contract??

 

[Dean]

Did you have a signed contract??

Unlikely for the same day. I think this happens often because sellers don't understand what's presented to them and once they realize the realities involved, they often aren't comfortable with the outcome. Was it the same seller, if not, I wonder if the broker might have had something to do with it.

 

[Deb & Bill]

They may have accepted the counter without figuring out if they would wind up owing Disney something after they sold. Then they figured out they really wanted a few dollars when they sold (maybe they even forgot about the realtor's fees).

But as long as nothing is signed, anyone can back out easily. And everyone has ten days to back out even after it is signed.

 

[AllieV]

Sounds like the same seller of both. And if they found out your name and saw you were buying both, they realized you had the money to pay more for at least one. But I'm a conspiracy theorist.

Is there no legal obligation to an oral contract? I've been reading that other thread about the guy who was outbid and lost it before he had a chance to reply, but there's a lotta legal mumbojumbo talk happening on that thread.

 

[DougEMG]

It was two different sellers.

In both cases the sellers made a counter and I accepted their counter, so I assumed I was giving them what they wanted.

The broker was really great, she phoned me afterwards to assure me that she had specifically broken everything down for them in regards to who was paying what in each category (ie: $/point, closing and MF).

Just found it amusing that it happened twice in one day with two different people. People like that must drive the brokers crazy.

 

[marynvince]

People must have forgotten the treat people the way you want/expect to be treated. Countering an offer that is then accepted is it as far as I'm concerned. Should be a just kidding clause that cost either party some money if they back out.

 

[Deb & Bill]

People must have forgotten the treat people the way you want/expect to be treated. Countering an offer that is then accepted is it as far as I'm concerned. Should be a just kidding clause that cost either party some money if they back out.

If the buyer backs out after ten days (during ROFR or after ROFR), the seller gets to split the deposit with the realtor. I did that twice with one small 50 point OKW contract that I tried to sell about four or five years ago. It was a nice little perk. Because I kept the contract and made several hundred dollars.

Oh, and if the seller backs out after the ten day waiting period, they still owe the realtor the fee.

 

[Missyrose]

So what did you do Doug?

 

[permavac]

It will be interesting to see if tomorrow, all of a sudden, one or both of them have a change of heart and go with the negotiated offer... I am a teensy bit suspicious that you have a broker who is trying to get resale numbers up. It would be good timing - inventory seems to go down in the summer months - could make buyers a little antsy - especially someone who has lost a few to ROFR... cue mysterious music...

Really though - wonder if you will be told something different tomorrow...

Terri

 

[dangeron]

If the buyer backs out after ten days (during ROFR or after ROFR), the seller gets to split the deposit with the realtor. I did that twice with one small 50 point OKW contract that I tried to sell about four or five years ago. It was a nice little perk. Because I kept the contract and made several hundred dollars.

Oh, and if the seller backs out after the ten day waiting period, they still owe the realtor the fee.

Getting a little off topic but also if buyer backs out after 10 days they lose the deposit and in my contract have to pay the brokers commission! How's that for a sweet deal! You get commission without making the sale!

 

[ELMC]

Sounds like the same seller of both. And if they found out your name and saw you were buying both, they realized you had the money to pay more for at least one. But I'm a conspiracy theorist.

This is why many of us don't broadcast every step in the process. If a seller is on here reading about a buyer bragging about the great deal they got, what do you think they'd do? That being said, your theory is far fetched to say the least.

 

[ELMC]

It will be interesting to see if tomorrow, all of a sudden, one or both of them have a change of heart and go with the negotiated offer... I am a teensy bit suspicious that you have a broker who is trying to get resale numbers up. It would be good timing - inventory seems to go down in the summer months - could make buyers a little antsy - especially someone who has lost a few to ROFR... cue mysterious music...

Really though - wonder if you will be told something different tomorrow...

Terri

Terri,

Usually I'm in total agreement with what you say, but I have to say that this post is a bit out there. I highly doubt that a broker would jeopardize their real estate license for what would equate to a $100 commission. What is with all the conspiracy theories tonight...is it a full moon?

Dan

 

[RayJay]

It will be interesting to see if tomorrow, all of a sudden, one or both of them have a change of heart and go with the negotiated offer... I am a teensy bit suspicious that you have a broker who is trying to get resale numbers up. It would be good timing - inventory seems to go down in the summer months - could make buyers a little antsy - especially someone who has lost a few to ROFR... cue mysterious music...

Really though - wonder if you will be told something different tomorrow...

Terri

I actually had a broker tell me the buyers were coming back into the market and that it was turning back to a sellers market.

RayJay

 

[Dean]

Getting a little off topic but also if buyer backs out after 10 days they lose the deposit and in my contract have to pay the brokers commission! How's that for a sweet deal! You get commission without making the sale!

I doubt this is legal or would hold up. Also, if you don't have their money in hand, it would not be worth going after them for this. Under FL law there are cancelation options that are 10 days from a certain point or a year if certain provisions are not met.

 

[permavac]

Terri,

Usually I'm in total agreement with what you say, but I have to say that this post is a bit out there. I highly doubt that a broker would jeopardize their real estate license for what would equate to a $100 commission. What is with all the conspiracy theories tonight...is it a full moon?

Dan

I hate to disappoint you but, while I am a very rational individual, I am also very suspicious I (like RayJay) have been told by a broker that it is now a seller's market and these types of comments make me wonder That said, I have no evidence that I can share to back up my suspicions so I apologize to Doug and his broker for my comment that things were possibly not on the up-and-up. Mea culpa.

Terri

 

[manning]

I'm not familiar with timeshare laws in Florida so what I state is pure assumption on my part.

If the offers and counter-offers were accepted in writing and cooling off periods have passed then you should have a binding contract subject to real estate law. The buyer has two choices 1. to walk away from the deal, that is do nothing, or 2. if he/she feels its worth the effort sue for performance. That means the seller has to complete the sale.

That is what happens in our state when property is sold. I'm not familiar with timeshare law and that may not apply.