Stealing a resale deal?

[heynowirv]

was early last week

80.00? I don't care how many points the contract was/is that's a steal!

 

[Bearval]

I honestly don’t think it’s anything but another buyer. It has hapeoened to me when I was negotiating with a seller.

And at multiple brokers. If the contract had been sitting there, it doesn’t make sense to me why the broker would come in and take it all of a sudden.

If the seller was willing to accept a lower amount, then the broker could have done this at any time.

If you had only a verbal yes, then it’s not a contract.

Also, sometimes offere come in via email or chat and it is possible that is what happened during that short time.

It is possible that seller did receive low offers in the past but refused them and now for whatever their reasons they accepted an offer that was lower than in the past.

 

[Bearval]

I agree it could've been another buyer, but, I also think my offer was below the "instant buy" option, which I believe triggered the reaction. I find it a miraculous coincidence that a great deal was made to a contract that had been sitting awhile, and within seconds of making a great deal, a full price offer came in. Of course it could happen, but I think the probability is highly unlikely. Either way, it is what it is, and I will never use that broker again.

I am willing to bet the broker had no idea they would accept such a low offer and swooped in .

 

[Sandisw]

I am willing to bet the broker had no idea they would accept such a low offer and swooped in .

Or, the agent noticed that another offer for full asking was there but had just not been seen it?

OP was told it was a full price offer, which is not the instant sale price and not something that the broker is paying.

Now, is it possible that the agent who was dealing with OP didn’t realize the offer was below instant price offer at first and felt obligated to tell the seller that and why acceptance was withdrawn? Sure.

 

[crisi]

Or, the agent noticed that another offer for full asking was there but had just not been seen it?

OP was told it was a full price offer, which is not the instant sale price and not something that the broker is paying.

Now, is it possible that the agent who was dealing with OP didn’t realize the offer was below instant price offer at first and felt obligated to tell the seller that and why acceptance was withdrawn? Sure.

Or that two agents at the brokerage weren't communicating - one agent was working with this buyer, and another agent had another buyer interested. The second agent didn't know that a counteroffer had been accepted - and with no signed paperwork, presented the full price offer. And, of course, the seller, without signed paperwork, had no legal obligation to do anything but take the full price offer.

 

[Sandisw]

Or that two agents at the brokerage weren't communicating - one agent was working with this buyer, and another agent had another buyer interested. The second agent didn't know that a counteroffer had been accepted - and with no signed paperwork, presented the full price offer. And, of course, the seller, without signed paperwork, had no legal obligation to do anything but take the full price offer.

I’d say this is pretty likely as well!

 

[E2ME2]

I agree that it's probably another buyer. What probably happened is that they got another inquiry the same day and the broker told the other buyer that there is another offer on the table that hasn't yet been presented to the seller, or hasn't yet been accepted - which may have been true at the time of initial contact. If the other buyer really wanted it, they probably bid the asking price (assuming that part was true) and that offer probably came it at around the same time as yours.

I was on the other side of this once, except it was a listing less than 24 hours old and I thought it wouldn't last long. When I reached out I was told there was another offer came in that morning that hasn't yet been presented to the seller. They give me a 30 minute deadline to submit my best offer and said that the best offer will go to the seller then.

I can second that possibility.
I also jumped on my BWV Resale the minute I saw it posted, and the agent
(whom I trust & have completed 3 resales with) told me that the seller had just received 2 other offers.
I immediately gave her my BAFO number, and she called me back later that day to tell me my offer had been accepted. It happens.

I've also been on the other side, where my first offer was rejected, and the seller made a counter but, when I responded to the counter offer the agent told me it was too late, that a full price offer had been accepted.

The "Thrill of the Chase" is a large part of what makes DVC Resale so interesting (addictive)!

 

[Bearval]

Or, the agent noticed that another offer for full asking was there but had just not been seen it?

OP was told it was a full price offer, which is not the instant sale price and not something that the broker is paying.

Now, is it possible that the agent who was dealing with OP didn’t realize the offer was below instant price offer at first and felt obligated to tell the seller that and why acceptance was withdrawn? Sure.

The OP did state they were told the seller received a full price offer and they also said it was not a new listing nor at a decent price. That may be true but it doesn't " ring true" to me. The agent telling the buyer the seller got a full price offer could have been so the buyer does not offer to counter. And if the original asking price was not good why would someone pay it? It may have actually occurred this way but I would have a hard time believing it if this happened to me.

 

[Sandisw]

The OP did state they were told the seller received a full price offer and they also said it was not a new listing nor at a decent price. That may be true but it doesn't " ring true" to me. The agent telling the buyer the seller got a full price offer could have been so the buyer does not offer to counter. And if the original asking price was not good why would someone pay it? It may have actually occurred this way but I would have a hard time believing it if this happened to me.

To be fair, the OP thought it was not a good price. Doesn’t mean the actual buyer didn’t think it was worth it.

And you are right, the info about a full price offer might have been a stretch but then again, why not just say “better offer” if that’s all it was?

I will add that if the broker is the one buying, because the seller decided to go instant offer, because it was more than OP, that makes sense too.

 

[thelionqueen]

I am willing to bet the broker had no idea they would accept such a low offer and swooped in .

My thought precisely although I didn’t want to accuse or assume..but that’s what I thought instantly