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What Is Your Opinion On This Situation?

7,165 Views | 67 Replies | Last: 1 yr ago by W E H
Sea Speed
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AG
We looked at a house on some property 2x over the last 2 weeks and have been doing our due diligence on the land etc over the last 10 to 12 or so days. About a week ago we put in an offer with one of the points being that we wouldn't execute the contract until the pool was ready for inspection because it needed some work, basically to be turned on and cleaned, as they just let it sit for the winter months. The sellers made a counter offer the next day, but also simultaneously started cleaning the pool and providing us updates on when it would be ready for executing the contract. We go back and forth several times on some concessions and other items in the contract and yesterday they emailed us their final counter offer. Shortly after that, The agent let mine know that they have received another showing request and will show until we reach a final agreement. Shortly after receiving that message, my agent let them know we agree to their terms, and to let us know when the pool is ready so we can submit the final contract as they requested. The sellers agent acknowledged that we accepted their terms. During the several days of negotiations, the seller gave multiple updates on the status of the pool and when it would be ready for inspection.

This afternoon, we got a message that they are expecting another offer and we need to submit another offer by noon tomorrow so the agent can present it to their clients.

I know nothing is official until things are signed, but from my perspective, we had reached an agreement that was proposed by the seller and the agent acknowledged that we accepted it. They agreed we wouldn't go under contract until the pool was ready and they initially said it would be yesterday, but pushed it until Monday at the latest.

I am pretty pissed off, and want to tell them to do some not so nice things with the offer. Of course i am somewhat emotional about the situation, and this was going to be a 20 year place that my wife and I have been pretty invested in and have been really wanting to make the changes this move allows, but I dont even want to deal with these people anymore out of the principal of the whole thing. Id just love to hear some of yalls thoughts on the scenario. I haven't decided what I am going to do, but I am HEAVILY leaning towards submitting the offer as we agreed to or just walking away. Walking away will be hard because our timeline is restricted due to work. What a pain in the ass situation.
aggiepaintrain
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AG
Your agent should have put in a 14 day option then you have time to see what's wrong with the pool.
Buying a home is a transaction, try not to get emotional. They might have another offer, if their realtor is acting ethically (wink)

Make your offer with the option period.
Until you have an executed contract you have zero leverage. Do not negotiate any this else until you are under contract.

Your realtor sounds like a rookie
FJB
LostInLA07
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Your agent misplayed that in a big way. Sorry that happened I would also be very frustrated.

A seller isn't going to stop trying to sell without a signed contract. I wouldn't be upset with them.
Sea Speed
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AG
Every decision we made was mine, it is not my agents fault.

I got burned on the last house we had under contract with a pool situation, I wasn't going to get burned again. This pool was dark green when we looked at the house. I wouldn't have put it under contract without knowing that the pool was in working order or could at a minimum see the bottom of the thing. That would have been throwing money away.
KayJayKay
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This is pretty basic real estate 101. You put the dang house under contract and then you do your inspections. Then you negotiate based on what you find. Your going to mess around and lose the house, we're talking about 100 to 200 bucks of option money, cheap insurance to now inspect the pool.
Sea Speed
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AG
I completely understand what you mean and know that and maybe I am learning a life lesson, but last month it cost me around $1400 when it was all said and done to find out a pool was shot to hell and needed 20 grand+ worth of work the sellers wouldn't do anything about. That lesson was fresh in my mind going in to this and maybe I thought that the owners were negotiating in good faith after meeting and speaking with them both times we looked at the property.
htxag09
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AG
I get where you're coming from in your decisions. But don't understand how you can be mad at the seller. From their perspective, a buyer saying "we'll go under contract if this happens" isn't a contract. And kind of sounds wishy washy, at best. They would have been dumb to stop showing and not accept offers.
Sea Speed
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AG
Without getting in to more details, I just dont think there is any way they could have got the impression we were being wishy washy.
TxAG#2011
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You said you went back and forth several times, then were waiting on a pool inspection, etc.

Somebody else showed up and made an offer.

You said it would be a 20 year house, and that was contingent on a pool inspection? Bro....
Sea Speed
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AG
Yes we probably should have just got it under contract. Had I not just had almost the exact same thing happen last month, which cost a fair amount of money and was the exact reason I canceled the contract in the option period, we probably would have. I understand I could have done things differently. We all make some mistakes and I already said It is probably a life lesson, but if they tell me we have a deal I guess I expect to have a deal. Maybe I just value my word more than them. Again, life is full of lessons.
ATM9000
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AG
You never put in an offer… you gave the seller some actionable feedback.

Next time put an offer in with a contingency that you don't close until the pool is in good working order. From the seller's perspective, they are doing all the legwork here on a stranger's word. They could easily do all of whatever they are doing to make you happy to even go into an inspection period and then you go find a better place and not execute a contract anyway.

I don't think you are getting done dirty here… I think what's happened is quite fair. They are at least giving you a shot to continue negotiating and potentially lose what I'm assuming is a better offer from their perspective.
combat wombat™
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It's not necessarily a better offer. The realtor just told them they are getting another offer… and that might be true. However, that offer could be less and REA may be trying to get them to bid against themselves.
ElephantRider
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AG
Yeah I don't think the sellers did anything wrong. You didn't offer them a contract, and it sounds like someone else was ready to. They at least let you know so you could make an offer.

Be a bird in the hand, not a bird in the bush. And FYI, I think your actions would have come off as wishy washy to me. I probably would tell a buyer to kick rocks if they asked me to do anything without a contract.
AggiePlaya
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AG
It's simple, you failed to gain the only leverage you had which was to get under contract.

You left them an out. You can't be mad at them
Sea Speed
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AG
We submitted several offers. Here is what the sellers said in response to one of them.


They verbally agreed to sell us the house and then said oh wait, nevermind.

Sea Speed
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AG
And the pool is not ready to go, and they have continually pushed the pool being ready to go to the right. Had this been my option period I would still not have been able to get an inspection and I'd be running out of time.
ElephantRider
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AG
Sea Speed said:

We submitted several offers. Here is what the sellers said in response to one of them.


They verbally agreed to sell us the house and then said oh wait, nevermind.



You never contractually agreed to buy it
htxag09
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And maybe if you were under contract and in an option period they actually would have done it on the timeline.

Or maybe there is an actual issue and you dodged a bullet.

Either way, the seller owes nothing to you if you aren't under contract. Did you really expect them to stop showing and refuse offers because a potential buyer said we'll go under contract but not until…..? Would you if you were selling?
Sea Speed
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AG
I understand that, and if you read that quote, the sellers stated they wouldn't sign until the pool was ready but would verbally agree to terms. I took them at their word. I didn't think it is a bad thing to take people at their word. Guess I was wrong.
Sea Speed
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AG
I took them at their word that they would agree to terms and sign when pool was ready.


Absolutely I would stand by my word if I told someone I would sell them somethin 10 times out of 10.
htxag09
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AG
Well you posted asking for peoples opinion. And everyone has posted their opinion which differs from yours, but you've just argued with them.
ElephantRider
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AG
Sea Speed said:

I understand that, and if you read that quote, the sellers stated they wouldn't sign until the pool was ready but would verbally agree to terms. I took them at their word. I didn't think it is a bad thing to take people at their word. Guess I was wrong.

So this verbal agreement you're hung up on gave you an out, but not them?

You can deflect blame all you want, but I don't think they did anything that a lot of us wouldn't have done in this situation
Sea Speed
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AG
I do appreciate everyone's opinion, truly. I dont think discussing my position on the matter says otherwise.
Sea Speed
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AG
Sure seems like they had an out to me and took it.
ElephantRider
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AG
Sea Speed said:

Sure seems like they had an out to me and took it.

And you're salty about it. I'm saying in your opinion, they shouldn't have had an out even though you did all along.
Sea Speed
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AG
ElephantRider said:

Sea Speed said:

Sure seems like they had an out to me and took it.

And you're salty about it. I'm saying in your opinion, they shouldn't have had an out even though you did all along.


What it boils down to 100% is that I took these people at their word and thought that was good enough. Guess I won't make that mistake again.
ElephantRider
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AG
Sea Speed said:

ElephantRider said:

Sea Speed said:

Sure seems like they had an out to me and took it.

And you're salty about it. I'm saying in your opinion, they shouldn't have had an out even though you did all along.


What it boils down to 100% is that I took these people at their word and thought that was good enough. Guess I won't make that mistake again.

Yes, the big bad sellers who didn't shut everything down for a buyer who said they might offer a contract.

This is still a seller's market in a lot of places. It's no wonder the whole "I'll allow you to sell me your house" bit didn't go over well
Rexter
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That screenshot makes a YUUUUGE difference. If you weren't willing to sign up front, then the the "blame" is 50/50. The sellers didn't want to sign until the pool is done. Your OP made it sound like that was your stipulation, so you're getting the blowback.
ElephantRider
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Rexter said:

That screenshot makes a YUUUUGE difference. If you weren't willing to sign up front, then the the "blame" is 50/50. The sellers didn't want to sign until the pool is done. Your OP made it sound like that was your stipulation, so you're getting the blowback.

My understanding is that it was OP's stipulation, and the screenshot is just the seller agreeing to it. It is poorly worded.
HomeFinderCody
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AG
Sea Speed said:

ElephantRider said:

Sea Speed said:

Sure seems like they had an out to me and took it.

And you're salty about it. I'm saying in your opinion, they shouldn't have had an out even though you did all along.


What it boils down to 100% is that I took these people at their word and thought that was good enough. Guess I won't make that mistake again.

Sorry this happened to you. ALWAYS get the home under contract. If they have agreed to take care of the pool, you just make the option period 15 days, 20 days, whatever it takes, and keep the option fee low (and extend the option later if needed). The sad truth is you can't take people at their word. BUT -- you can agree with them on a plan and explain to them the way to handle it is with a long option with low fee.

This is why you hire a great agent, and TRUST your agent. If you don't trust that they are excellent, you find find another one to represent you. You mentioned that you don't blame your agent because it was all your idea. I'd just suggest leaning on your agent for guidance, experience, and expertise...that's why you have them!

Again, sorry this happened. Hopefully you will find something better, and look back on this as a "things happen for a reason" situation. Best of luck!
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ElephantRider
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AG
Agree on the realtor thing. Your realtor never should have let you do this
aggiepaintrain
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AG
Your demands about the pool should be listed in the contract and if they don't meet them YOU DO NOT CLOSE.

And exactly does "Good to go" mean?
Might want to define that
FJB
Deats99
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AG
Sea Speed said:

I completely understand what you mean and know that and maybe I am learning a life lesson, but last month it cost me around $1400 when it was all said and done to find out a pool was shot to hell and needed 20 grand+ worth of work the sellers wouldn't do anything about. That lesson was fresh in my mind going in to this and maybe I thought that the owners were negotiating in good faith after meeting and speaking with them both times we looked at the property.
$1400 is money but in terms of a several hundred thousand dollar transaction it is the cost of doing business. You got to take the emotion out of it and look at it in perspective. 1.5 cents on the dollar, compared to the $20.00 it saved you

They are negotiating in good faith, with 2 buyers now.

Good Luck man!
A good plan violently executed now is better than a perfect plan executed next week.
-George S Patton
RikkiTikkaTagem
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AG
Sea Speed said:

Without getting in to more details, I just dont think there is any way they could have got the impression we were being wishy washy.



They don't know you. And you don't know what experiences they have had selling in the past. Our last house we went under contract 6 times and didn't sell until the last one. 3 options period pull outs, two earnest money pull outs (one of which we split earnest money because the title company dropped the ball) and finally our last one that went through Never given a good reason for the pull outs. Just vague "I'm not sure this is the right house for us at this time." We wanted to know why peope pulled out so we could address it for the next buyer. Never given anything concrete.

We know the current buyers. They love the house and it has no problems. Just people were being wishy washy without good reason. I trust nobody now.

Don't take the advice on this thread personally. You have brought up an excellent learning point for any potential buyers. Good luck to you.
aggiebq03+
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When you say you "put in an offer", was it in the form of a written contract?

When you say the seller "made a counter offer you accepted", was it a written contract?

If not you had at best a loose understanding of what a written contract might say, but you certainly didn't have a deal in place.

If they wrote a counter offer and you accepted that's a deal in place. If I'm selling a house and you haven't put anything in writing, I'm waiting on someone to put something in writing, and giving other interested parties time to do the same.
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