Annoying Sellers

[DougEMG]

I completely trust the broker. I've given her over 2000 points worth of sales/commissions In the last few months and she knows I'm still looking. This is really just a matter of sellers getting confused about the numbers.

Originally I told both to take a hike. Then later on I upped one offer by a $1/point and that was my final offer. So I guess I'll hear back tomorrow on if there was any change from either seller.

There's enough contracts out there that I'm not worried one way or the other about getting them.

 

[Dean]

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.

Technically accurate with the conditions you added. In this case, there was no written contract and they were ahead of the recision period. From a practical standpoint, bringing a law suite for this situation is unrealistic, esp if from a different state.

 

[nunzia]

I completely trust the broker. I've given her over 2000 points worth of sales/commissions In the last few months and she knows I'm still looking. This is really just a matter of sellers getting confused about the numbers.

Originally I told both to take a hike. Then later on I upped one offer by a $1/point and that was my final offer. So I guess I'll hear back tomorrow on if there was any change from either seller.

There's enough contracts out there that I'm not worried one way or the other about getting them.

You have 2000 points?...or did I read this wrong?

 

[MousekeTom]

Originally I told both to take a hike. Then later on I upped one offer by a $1/point and that was my final offer.

You are a true business man to re-evaluate the offer. I would have walked based on emotion.

 

[DougEMG]

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

I'm always looking at listing, making offers, etc and I have not noticed that there are more buyers. I'm seeing the same contracts being list for months and months and the prices are reasonable. So if it was a seller's market they should have sold by now.

I've had over 6 accepted offers in the last month at what I consider to be really good deals.

So I haven't seen evidence of it being a seller's market.

 

[DougEMG]

You have 2000 points?...or did I read this wrong?

No, I lost a large number of those points to ROFR, but the broker still got their commission. If my latest contracts pass ROFR I'll have just under 2000 points. The two contracts that the buyers just backed out of totalled 670 points.

 

[ELMC]

You are a true business man to re-evaluate the offer. I would have walked based on emotion.

It's funny you should say that...I would have walked based on business.

 

[awilliams4]

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.

Man, I see you posting everywhere about recent purchases. Someone appears to be rewarding themselves for their hard work!

 

[MousekeTom]

It's funny you should say that...I would have walked based on business.

Either case, I still see this a buyers market (except for maybe OKW) and it wouldn't hurt to walk.

 

[mikron]

Sounds like they set the price to low and offers came in fast and they though they were selling to low. Without resort and price hard to tell if your price was low or their listing to low.

 

[DougEMG]

Sounds like they set the price to low and offers came in fast and they though they were selling to low. Without resort and price hard to tell if your price was low or their listing to low.

I wasn't able to come to a new deal with either seller. Monday though I'm starting over and sending out new offers that are structured differently and will see how that goes. Hence I'm not posting any details as I think there is still a 50-50 chance I might still be able to come to a deal with these sellers.

 

[dangeron]

Good Luck!!

 

[Missyrose]

Doug, have you structured any of your deals where you say to the broker I'm offering $X,XXX all in and leave it up to the broker and sellers to determine the breakdown from there?

 

[BWV Dreamin]

Doug, have you structured any of your deals where you say to the broker I'm offering $X,XXX all in and leave it up to the broker and sellers to determine the breakdown from there?

My brother did exactly that. He said " I have XXX amount of money". I will offer this as a total dollar amount offer. He didn't care how the contract was written up (who paid closing, MF's ,etc) just that he was only going to pay XXX at closing and that was it. Well the broker made it happen. He actually got OKW points at $50/pt. in back in 2008!

 

[DougEMG]

Doug, have you structured any of your deals where you say to the broker I'm offering $X,XXX all in and leave it up to the broker and sellers to determine the breakdown from there?

Yes I have done that. Even did it with one of these sellers that backed out, but they came back with my $X,XXX but still wanting MF on top of that. They had a real issue with the MF and wanted that indicated seperately regardless of anything else.

 

[princessaloha]

Well, since this is the Annoying Sellers thread...

5/2 offer placed
5/4 offer accepted
5/15...still waiting on sellers to return their contract.

Seriously people, what is up with that?

 

[Missyrose]

Well, since this is the Annoying Sellers thread...

5/2 offer placed
5/4 offer accepted
5/15...still waiting on sellers to return their contract.

Seriously people, what is up with that?

Tell your broker that if the sellers haven't sent the contracts back in the next two days, you'll find another contract. That is utterly ridiculous that it's been 10 days to just get the original contracts signed.

There are plenty of (contract) fish in the sea.

 

[bdoleary]

Well, since this is the Annoying Sellers thread...

5/2 offer placed
5/4 offer accepted
5/15...still waiting on sellers to return their contract.

Seriously people, what is up with that?

That's pretty poor and probably not a good sign of things to come unless they have a great reason - (out of the country, hospital, etc.) In any event the broker should have an idea what's going on with them. Good Luck!

 

[ELMC]

Well, since this is the Annoying Sellers thread...

5/2 offer placed
5/4 offer accepted
5/15...still waiting on sellers to return their contract.

Seriously people, what is up with that?

It's all a matter of perspective. To you right now, this is probably one of the most important things you have going on. You're excited and anxious and you can't wait to own. For the seller, it's probably more like an item on a "to do" list.

That being said...this is a sign of things to come. You should expect an equal delay on the back end as well. If you're not prepared to deal with that and you feel you can replicate this deal elsewhere, you should consider backing out now. You are well within your contractual rights. Good luck with whatever you decide.

 

[RayJay]

Well, since this is the Annoying Sellers thread...

5/2 offer placed
5/4 offer accepted
5/15...still waiting on sellers to return their contract.

Seriously people, what is up with that?

I'm sorry, I have to agree with you here, unless there is some emergency I don't see why the contract can't be signed quickly. 9 days???? Something must be up.

RayJay