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#302383 - 08/13/09 07:08 AM buyer pressure
claijammer Offline
Member

Registered: 05/20/07
Posts: 31
Loc: maryland
Greetings
I am in baltimore maryland a rookie agent with first my seller listing we have a buyer how asked for 7k buyer assist on a 139k
home their offer was to be 135k but on contract is 133k.they had issues with property such as roof electrical and plumbing
my client fixed most of issues and on home inspection stated that if found it needed a replacement they would do half of expense.inspection found roof in good shape only 7yrs old few shingles need to be nailed down. on inspection windows need to be repaired we fixed that cieling needed repair we did that.
the buyer loan is fha and the apprasor inspection only required
windows which we did and paint railing which we did
buyer wants a lot of minor simple thing that i as the seller agent feel is beyond whata as is property is we forfilled fha requirement and all safety issues.
my question is to their request should we stand our ground with the take it or leave it or comprimise where we have gave up alot already also the buyer qualifes for the 8k first time buyer.i in advance thank you for any responses

david

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#302411 - 08/13/09 09:17 AM Re: buyer pressure [Re: claijammer]
Bigtoe Offline
Veteran Member

Registered: 10/14/07
Posts: 1215
Loc: Outer Banks
Talk to your broker. They can read the contract and see all the details needed to answer your question.

If this is the same property as the one in your ground lease question it might not matter because it might not close.
_________________________
Your Outer Banks real estate agent. Learn how to buy an Outer Banks Foreclosure property.

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#303283 - 08/19/09 10:32 PM Re: buyer pressure [Re: Bigtoe]
Cave Man Offline
Veteran Member

Registered: 11/16/07
Posts: 582
Loc: CA
ditto what Bigtoe said, it's good to have your broker who knows the local market and maybe even knows the agent or broker on the other side, to look over the deal

depending on what your broker suggests, you can:

ask the buyer's agent to have the buyer remove any remaining contingencies (some buyers will ask, ask, ask and if your seller gives, gives, gives, the buyer will ask for more).

at some point the seller needs to determine what is the lowest amount they will accept and if this buyer does not meet that threshold (and assuming the property is priced fairly) then the seller may need to wait for the next buyer

hope you get it closed!

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#303447 - 08/21/09 08:55 AM Re: buyer pressure [Re: Cave Man]
REODayton Offline
Major Contributor

Registered: 07/27/06
Posts: 3665
Loc: Dayton Ohio
Its up to the seller. They can continue to pay for this, fix that or they can say no and risk the contract. It comes down to what the contract says though.

My seller put his footdown this week when the buyer asked for 2 cans of paint be purchased because there is s scuff on the wall. Seller said NOWAY. The buyer has already gotten more than we should have given but it was the sellers choice to see the house close.

Turned out the buyers agent was only asking to ask. His client plans on changing the color of the walls anyway and trying to save them a few bucks. It never hurts to ask.

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#303667 - 08/23/09 08:14 PM Re: buyer pressure [Re: REODayton]
Cave Man Offline
Veteran Member

Registered: 11/16/07
Posts: 582
Loc: CA
Originally Posted By: REODayton
the buyer asked for 2 cans of paint be purchased because there is s scuff on the wall

if there was a thread started on silliest things asked for in purchase offers or addendums, that has got to go on the list

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