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Recourse For Seller/Realtor Raising Price After Getting LOI

3,741 Views | 16 Replies | Last: 2 yr ago by AndesAg92
Orlando Ayala Cant Read
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AG
Lets say a commercial property is in MLS and some other places at $800k.

I put an LOI in at $775k.

The realtor comes back and says , seller is countering at "$900k". Am I just dealing with shi**y people? Or can I report this to some entity? I'm pretty sure I can let MLS know but not sure what would happen after that.
Red Pear Realty
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AG
It's a hot market, very possible they have multiple offers. Or, maybe the owner changed their minds? I'm not sure what law or rule you think they are breaking? Also not sure why the broker is the bad guy here? I see this situation fairly regularly right now on the commercial side.
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Goldie Wilson
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Recourse for what?
agsalaska
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AG
Nobody is coming down off prices right now. They probably saw your offer and were not amused. They know they will get their asking price or more.

Who is advising you?
The trouble with quotes on the internet is that you never know if they are genuine. -- Abraham Lincoln.
KT_Ag08
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AG
This is precious. You think a list price is a binding maximum?
SquanchyAg
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nothing will happen. you have nothing to report. you made them an offer and they countered.
Yesterday
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AG
Commercial real estate is hot? Honest asking.
Red Pear Realty
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Yesterday said:

Commercial real estate is hot? Honest asking.


Some food groups more than others. Land and Industrial in Houston is hoppin. But I wouldn't want to own malls or high rise office (anywhere) right now personally. And Wall Street will probably make a killing with SF rental investments by the thousands.
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maddiedou
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Ypu made an offer below what they were asking. They came back with a FU for 900 because you offered 775

It happens all the time with guns and coins If they thought there price was right yes you offended them
ratfacemcdougal
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I would say they had more, and higher, offers and are just trying to get anybody who has submitted an offer into a bidding war. Damn near as soon as property hits the market, there is full price offers submitted. Stuff is listed high and selling for higher. Some will list a bit low hoping to get a bidding war going. Just the nature of the beast right now.
itsyourboypookie
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Orlando Ayala Cant Read said:

Lets say a commercial property is in MLS and some other places at $800k.

I put an LOI in at $775k.

The realtor comes back and says , seller is countering at "$900k". Am I just dealing with shi**y people? Or can I report this to some entity? I'm pretty sure I can let MLS know but not sure what would happen after that.


I would of countered your bull**** at 1 million

If 25k breaks a 800k deal, it isn't a deal.
agsalaska
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AG
I keep coming back to this thread hoping the OP has commented.
The trouble with quotes on the internet is that you never know if they are genuine. -- Abraham Lincoln.
BQ04
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AG
Don't get offended. Just move on. Clearly not a Seller.
mic suede
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agsalaska said:

I keep coming back to this thread hoping the OP has commented.

He's only made 200 other posts since this thread. Did he forget about it or is he ignoring it?
SquanchyAg
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mic suede said:

agsalaska said:

I keep coming back to this thread hoping the OP has commented.

He's only made 200 other posts since this thread. Did he forget about it or is he ignoring it?
might just be a weak troll attempt.
ratfacemcdougal
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Why would OP need to come back? The question was asked, the question was answered a short time later....the thread was basically dead. How is that trolling? The next response was 5 days later. There have been some other answers, but again, op had the answer with the first response.
ATM9000
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AG
agsalaska said:

I keep coming back to this thread hoping the OP has commented.


Come take your licks for a stupid question you coward!!!!
AndesAg92
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AG
ATM9000 said:

agsalaska said:

I keep coming back to this thread hoping the OP has commented.


Come take your licks for a stupid question you coward!!!!


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