Frustrating home selling update page 8

[RadioNate]

I know, it is a buyers market blah blah blah but really do they have to be such jerks? There is a fine line between being a tough negotiator and being a horses rear...they've crossed it!

They want 5% off the asking price, us to pay ALL their closing costs, get them HOA approval for a pool, and give them $2000 cash for whatever. Their agent has admitted that they are just asking for these things because "they can."

We are underwater, as is practically every house in the state of Florida. We are NOT doing a short sale because we have the cash to bring at closing and we are with a lender that converts the deficiency to a personal loan rather than issue a 1099. My neighbor's house is valued less than what they built it for in 2007.

According to their agent, they have the money. They just want everything they can get. I know it is business but come on! The now want our financials because they don't trust we can bring the money. As if I'm really going to show them my bank records.

We've countered with our bottom line. It drains everything. Below that they force us into short sale. They've asked for us to give more. THERE IS NO MORE MONEY! I can't give any. I don't have it.

Arrrrggggghhh. They are getting a GREAT deal on this house. I don't say that from an emotional standpoint. We are at a fair market price w/out being the hassle of a short sale or foreclosure but we are priced like one. In the last 2 years I have painted the exterior of the house, installed gutters, new dishwasher, new stove, new wood floors. I'm not factoring any of that into the loss or price of the house either. And if they can agree to reasonable terms they get the government 8k.

What is wrong with these people?

 

[HERSEY]

There are people would love to take advantage of a bad situation.

I hope you find kinder people soon

 

[Motherofboys]

I know, it is a buyers market blah blah blah but really do they have to be such jerks? There is a fine line between being a tough negotiator and being a horses rear...they've crossed it!

They want 5% off the asking price, us to pay ALL their closing costs, get them HOA approval for a pool, and give them $2000 cash for whatever. Their agent has admitted that they are just asking for these things because "they can."

We are underwater, as is practically every house in the state of Florida. We are NOT doing a short sale because we have the cash to bring at closing and we are with a lender that converts the deficiency to a personal loan rather than issue a 1099. My neighbor's house is valued less than what they built it for in 2007.

According to their agent, they have the money. They just want everything they can get. I know it is business but come on! The now want our financials because they don't trust we can bring the money. As if I'm really going to show them my bank records.

We've countered with our bottom line. It drains everything. Below that they force us into short sale. They've asked for us to give more. THERE IS NO MORE MONEY! I can't give any. I don't have it.

Arrrrggggghhh. They are getting a GREAT deal on this house. I don't say that from an emotional standpoint. We are at a fair market price w/out being the hassle of a short sale or foreclosure but we are priced like one. In the last 2 years I have painted the exterior of the house, installed gutters, new dishwasher, new stove, new wood floors. I'm not factoring any of that into the loss or price of the house either. And if they can agree to reasonable terms they get the government 8k.

What is wrong with these people?

Not if they don't enter into a binding contract to buy it by April 30th

Maybe you should have your real estate agent remind them of that and use it as a bargainning chip?

 

[punkin]

It's a business deal. If they ask for more than you are willing to give, simply walk away. As a buyer I always try to get as low a price as possible. As a seller I try to get as much as possible. That's the way things work. Either party can always walk away if the deal is not to their liking.

 

[iwrbnd]

We had a similiar situation and it's frustrating! We finally said "forget it"! We didn't have to sell and decided to just stay in our house.

 

[mom2travel]

I know, it is a buyers market blah blah blah but really do they have to be such jerks? There is a fine line between being a tough negotiator and being a horses rear...they've crossed it!

They want 5% off the asking price, us to pay ALL their closing costs, get them HOA approval for a pool, and give them $2000 cash for whatever. Their agent has admitted that they are just asking for these things because "they can."

We are underwater, as is practically every house in the state of Florida. We are NOT doing a short sale because we have the cash to bring at closing and we are with a lender that converts the deficiency to a personal loan rather than issue a 1099. My neighbor's house is valued less than what they built it for in 2007.

According to their agent, they have the money. They just want everything they can get. I know it is business but come on! The now want our financials because they don't trust we can bring the money. As if I'm really going to show them my bank records.

We've countered with our bottom line. It drains everything. Below that they force us into short sale. They've asked for us to give more. THERE IS NO MORE MONEY! I can't give any. I don't have it.

Arrrrggggghhh. They are getting a GREAT deal on this house. I don't say that from an emotional standpoint. We are at a fair market price w/out being the hassle of a short sale or foreclosure but we are priced like one. In the last 2 years I have painted the exterior of the house, installed gutters, new dishwasher, new stove, new wood floors. I'm not factoring any of that into the loss or price of the house either. And if they can agree to reasonable terms they get the government 8k.

What is wrong with these people?

Ugh! Sounds frustrating to say the least! It really stinks that they are trying to take advantage. All you can do is hold your ground. You have countered now they need to see you are serious.
I am sorry you are going through this. Good luck. Stay calm

 

[We_love_WDW]

You can counter and say NO....and if they really want the house they will buy it. Just because it's a "buyer's market" does not mean you are going to have to say yes to everything they ask for

 

[RadioNate]

Not if they don't enter into a binding contract to buy it by April 30th

Maybe you should have your real estate agent remind them of that and use it as a bargainning chip?

Right and they want that money so they are going to have to scramble to get their inspection and appraisal done in a hurry.

We've been back and forth on this for more than a week. They obviously want the house.

We've agreed to a lower than asking price (not the 5% they wanted but 3%) and agreed to a flat amount of closing costs (about 1/2 the original estimate) and 1/2 the whatever money.

We CAN'T get pool approval from our HOA in time. They have 28 days to give approval and require actual plans from a pool company.

They don't seem to "get" that some of this stuff is totally unrealistic and they keep demanding more.

It has become laughable. Really.

I want to sell. We very much want to sell. BUT with the money we are bringing to closing we could pay the mortgage on this house for years while it sat empty if we had to. Or we could just spend the money and let the house foreclose. We have options. They apparently have no other houses.

Clocks ticking.

 

[DisneyBamaFan]

It's a business deal. If they ask for more than you are willing to give, simply walk away. As a buyer I always try to get as low a price as possible. As a seller I try to get as much as possible. That's the way things work. Either party can always walk away if the deal is not to their liking.

^^^This^^^

I know that it is your life, but it is not theirs. There is nothing wrong with striking a hard bargain, or walking away. To be fair, they don't owe you anything.

That said, I offer you my sympathy. Selling right now can be pretty painful, even with buyers less demanding.

 

[RadioNate]

It's a business deal. If they ask for more than you are willing to give, simply walk away. As a buyer I always try to get as low a price as possible. As a seller I try to get as much as possible. That's the way things work. Either party can always walk away if the deal is not to their liking.

You can counter and say NO....and if they really want the house they will buy it. Just because it's a "buyer's market" does not mean you are going to have to say yes to everything they ask for

We keep saying no and they keep asking! They are like incessant little bugs. They think we are lying and can afford to give more. Their agent said that. Who does that? I can't give more and not giving more and you may not see MY bank records so you can decide what I can or can't afford.

Of course it is business, I get that but then there is just being a jerk.

Of course they want as low of a price as possible BUT we've told them what the lowest price as possible is and they keep asking for lower. That is what is frustrating. They want it for less then it becomes a short sale and they don't want that and they will have to deal with the bank. It is that simple.

And the completely over-the-line asking to see OUR financial information to prove we can afford to sell the house this way.

We have a letter from the title company that they have verified our funds and a final contract that removes all contingencies and is at our price. They can sign it or not but that is the FINAL offer. As much as I want to be done with this house....I'm not dealing with these people anymore.

 

[Motherofboys]

Right and they want that money so they are going to have to scramble to get their inspection and appraisal done in a hurry.

We've been back and forth on this for more than a week. They obviously want the house.

We've agreed to a lower than asking price (not the 5% they wanted but 3%) and agreed to a flat amount of closing costs (about 1/2 the original estimate) and 1/2 the whatever money.

We CAN'T get pool approval from our HOA in time. They have 28 days to give approval and require actual plans from a pool company.

They don't seem to "get" that some of this stuff is totally unrealistic and they keep demanding more.

It has become laughable. Really.

I want to sell. We very much want to sell. BUT with the money we are bringing to closing we could pay the mortgage on this house for years while it sat empty if we had to. Or we could just spend the money and let the house foreclose. We have options. They apparently have no other houses.

Clocks ticking.

Buyer's agents tell you to ask for the moon and the stars, which is what these people are doing.

You've made concessions, tell them that flat out, that's it! Take it or leave it.

Losing that $8k is going to be huge to them, you should use that deadline to your full advantage. Especially if they don't have other houses that they are ready to enter into a contract on.

They are dreaming if they think that tax credit is going to be extended again!

 

[java]

Oh I remember that feeling. I hated the people that bought our house so much. At the closing I walked out and said "I'm NOT selling to those people!" In front of them. At the closing they were asking for a $4 credit for a light switch in the closet. That was my breaking point. I told him to stick it you know where.

Well he apologized and removed that item and several others and we closed. Some people are jerks.

 

[AJ12345]

i'm going to have to disagree with you here. We just bought our first and the couple that were living there were behind on their mortgage, had a 10 month old baby, and the husband has just lost his job.

it's a buyer's market. i couldn't feel sorry for them just b/c of their circumstance. they were lucky to not have to go into foreclosure b/c we bought the house. you have to keep in mind that this isn't a small investment.

these people are probably making the biggest purchase of their lives (i know our house was) why would they NOT try and get as much as possible.

 

[punkin]

We keep saying no and they keep asking! They are like incessant little bugs. They think we are lying and can afford to give more. Their agent said that. Who does that? I can't give more and not giving more and you may not see MY bank records so you can decide what I can or can't afford.

Of course it is business, I get that but then there is just being a jerk.

Of course they want as low of a price as possible BUT we've told them what the lowest price as possible is and they keep asking for lower. That is what is frustrating. They want it for less then it becomes a short sale and they don't want that and they will have to deal with the bank. It is that simple.

And the completely over-the-line asking to see OUR financial information to prove we can afford to sell the house this way.

We have a letter from the title company that they have verified our funds and a final contract that removes all contingencies and is at our price. They can sign it or not but that is the FINAL offer. As much as I want to be done with this house....I'm not dealing with these people anymore.

They have no right to your financials, and frankly it does not matter if you can afford to sell it for a lower price. The only thing that matters is the deal. You have a signed offer (I assume) that details your responsibilities and theirs. That's it! No more negotiations. If you do not have an offer that they signed and that you accepted, then you are still negotiating and you need to stay firm on your counteroffer and if they don't take it AS IS, forget them and look for other buyers.

I am sorry this is upsetting you.

 

[RadioNate]

^^^This^^^

I know that it is your life, but it is not theirs. There is nothing wrong with striking a hard bargain, or walking away. To be fair, they don't owe you anything.

That said, I offer you my sympathy. Selling right now can be pretty painful, even with buyers less demanding.

But doesn't there come a point where you have to be reasonable and realistic. They keep throwing this stupid pool contingency back in and it is IMPOSSIBLE. I don't have the authority with our HOA to get them approval to put in a pool. And I certainly am not going to spend my time and allow them access to my house so their pool company can draw up plans that the HOA requires. I'm not even sure the HOA will even consider a proposal from a non-homeowner. If *I* get the approval it will not convey upon sale, it says so on the application (which we showed them.)

Yet they keep putting it in. THAT is what I find so irritating. Why keep demanding something that just can't happen. We have no say in their pool application with the HOA. We can't promise them that and they don't have time to meet the HOA's requirements for approval. We also can't do it for them, I've asked.

 

[TheZue]

It shouldn't matter if you CAN afford more, but only if you WANT to agree to what hthey offered. They have no right to keep demanding that stuff like you owe it to them. One way to get their attention is next time they demand something come back with a worse counter offer. Give them 2.5 under the asking and no bonus money if they keep this crap up. They'll get the message.

 

[Handbag Lady]

If you can, tell them to go away and you don't want to hear the word "pool" again since you have plenty of money to keep paying the mortgage now.

They will change their tune with the rebate deadline looming so close. If not, you'll feel better when the next family who wants to buy it is nicer and more realistic. Heck, if they are nice, you might even go overboard just to spite the rude people you are dealing with now.



Well, that's what I would do.

 

[surfergirl602]

I know it's hard to do, but walk away. Maybe they'll change their minds when they realize that you aren't falling for it. I would also remind them of the april 30th deadline.

 

[RadioNate]

i'm going to have to disagree with you here. We just bought our first and the couple that were living there were behind on their mortgage, had a 10 month old baby, and the husband has just lost his job.

it's a buyer's market. i couldn't feel sorry for them just b/c of their circumstance. they were lucky to not have to go into foreclosure b/c we bought the house. you have to keep in mind that this isn't a small investment.

these people are probably making the biggest purchase of their lives (i know our house was) why would they NOT try and get as much as possible.

We are not behind on our mortgage. We have no job loss and are no where near foreclosure. We are actually bringing MORE to the table at closing than their 20% downpayment (assuming they actually have 20%.)

This is our 3rd house. I've bought and sold before and these people are nuts.

Frankly, because there is something called fairness and human decency? Nothing like kicking someone when they are down.

And actually foreclosure MAY have been a better option for your sellers. Sure it'll hurt your credit but people with foreclosures are getting mortgages in as little as 3 years.

Yes, I want to be rid of this house but it has nothing to do with affording it right now. My DH's job is in another state and I'm trying to cut our losses because I know the Florida market won't recover any time soon. I'd rather just be rid of it instead of worrying about a renter or paying the mortgage on an empty house.

 

[pixiefairy]

I'm sorry that it's such a pain in the rear for you. Hopefully....playing a little hardball with them will knock some sense into them...especially with April 30th looming near.

We bought our townhome brand new 9 years ago....we tried to sell for 2 years...only one offer and she was the same way. We had to say sorry...even though we REALLY want and need to find a larger home. We eventually took it off of the market and will do some extra work on it before re-listing. Some day....we are making our space work for us right now.

The buying/selling of a home is super stressful...here's to some less stressful days in the future!