Dear Mr. Seller: Play Hardball, and your Ball Just May Deflate!

By
Real Estate Broker with MyMidtownMojo.com Thomas Ramon Realty 272617

Intown Atlanta Real EstateIt's no secret that real estate is moving in some markets again!

It's no secret that in some markets, the inventory is scary low!

But Mr. Seller, when you decide to play hardball with an offer, your ball may just deflate!

I found my clients the perfect house. Seriously. It had everything they wanted....and more. It was in their price range, and the same school district where their two children go to school. On a busy street, but the house was still quiet when inside. They were in LOVE! Madly in love.

Until Mr. Seller tried to play hardball.

Now, my Buyers have had a complete divorce from this house, and are moving on. You see, Mr. Seller made some $15,000 worth of "improvements" to the home in the two years they owned it. Unfortunately, a 15 year old HVAC, an 18 year old hot water heater and a 20 year old roof did not warrant "improvements." But we were going to get a new screen door, a solar-operated entrance gate, and rain barrels. Oh goodie goodie.

So, after agreeing to 98% of list price, bring on the inspection. Boy oh Boy! But, we let many of the issues go and focused on roofs and hot water heater. Estimate for repairs, probably $8,000. Seller counters with a $2,000 price adjustment. We ask for $8,000. Seller squeaks to $3,000. I say give us $5,000 and its a done deal. Seller says $5,000, but now jerks out the home warranty and the HVAC servicing. I mean really.

Here comes our Termination Agreement.....it was sent at 9pm. My phone rang 15 minutes later.

"Oh please NO! What do we have to do to save this deal?" Well, you might of started with a truthful disclosure statement. (Listed roof as 5 years old, and hot water heater at 8 years...remember dates above!) Then after a 98% list price confirmation, you come back with your stupid ass $2000. And that took you 48 hours to come up with?

I gave the Listing Agent 45 minutes to come up with an offer. Seller caved and gave the $8,000. But the divorce had already happened. In fact, we were looking at the very home we are now making an offer on when the $5000 nickel and dime offer came in. (You gotta love a Smartphone to add fuel to the fire!)

Dear Mr. Seller: I hope you've enjoyed your game of hardball. I wonder when the next offer will come. It's a pretty unique house and will take some pretty unique Buyers, which you had in your court, but your ball just deflated.

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  1. Gayle Barton 05/22/2012 07:20 AM
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Topic:
Home Selling
Location:
Georgia Fulton County Atlanta Midtown West
Groups:
"Whacked"!!!
Bartender, Make it a Double
I Rock, Therefore I Am!
Tags:
intown atlanta real estate
buyers
sellers

Comments 72 New Comment

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Anonymous #69
Anonymous
janet

Love the way you wrote this story.  It is so true and can go both ways with buyers demanding more and more until the seller decides that they would rather wait! 

May 23, 2012 11:51 AM
Rainmaker
147,865
Stephanie Arnett
SRS, IMSD, Broker Associate, REALTOR
Coldwell Banker SRE ~ Starkville, MS

Sad for the seller, but serves them right.  I am a listing agent, and I tell my sellers that all to often.  Surely you'd be suprised to hear that only half of them listen!! :roll eyes:

May 23, 2012 12:20 PM
Rainer
50,609
Frank Diaz
808.723.0900 http://www.hawaiihome.biz
East Oahu Realty

"A bird in the hand...."

I had a similar situation. My buyer had agreed to 35% down, rare these days. We couldn't get together on price. Finally, two weeks later, the agent calls and says they'll take it. Too late, we are already in escrow on another. When I see high down payment buyers, I take them very seriously. Rare birds these days.

May 24, 2012 08:12 PM
Rainmaker
331,146
John Mosier
Prescott's Patriot REALTOR & Land Man 928 533-8142
High Country Realty - Prescott - AZ

I think it is the responsibility of BOTH Agents to keep each other informed. When a Buyer has been through a trying process, the Seller should be informed that it is not the time to play hardball, and vice-versa, of course.

May 25, 2012 12:16 PM
Rainmaker
593,161
Thom Abbott
Midtown Atlanta Condos For Sale
MyMidtownMojo.com Thomas Ramon Realty

Everyone! I've not had time to respond to each of your comments. That certainly does not mean I have not read everyone of them and I certainly appreicate everyone of them!

We close on their home this week (perhaps a day late due to the lender dropping a ball or two) but we will be closing!

June 24, 2012 07:47 AM
Anonymous
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Rainmaker
593,161

Thom Abbott

Midtown Atlanta Condos For Sale
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Additional Information

Anything about Intown Atlanta Real Estate you wanted to know but were afraid to ask, or didn't know WHO to ask....you have come to the right place. And if we don't know we WILL get the answer! So WHAT IS Intown Atlanta?
There are many definitions, but let's just say anything inside I-285, or "Inside the Perimeter - ITP" is Intown Atlanta! There are many neighborhoods, from Buckhead, to Brookhaven, Morningside, Midtown, and Midtown West, to actual cities like Decatur, Chamblee, and Doraville.
I work with BOTH Buyers and Sellers. If you are looking for the best Internet Marketing, or a broker that knows the Intown Atlanta area, then you HAVE come to the right place!

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