Austin TX Real Estate - Hill Country Austin Lakeway Homes for Sale: Mr and Mrs Seller - Buyers Don't Care that you Don't Want to Bring Money to the Table!!

Mr and Mrs Seller - Buyers Don't Care that you Don't Want to Bring Money to the Table!!

"Mr. and Mrs. Seller, I understand you bought the house just a few months ago, and I understand that you don't want to bring money to closing to sell the house you just built because you've decided you can't live together anymore, but why do you think a buyer cares about you breaking even?  You have your house priced $23,000 above where you just paid for it!!  What educated agent is going to "allow" their educated buyer to pay so much for your house when you didn't?

austin tx home sellerYes, your house is nice, beyond your little dog barking at my clients through the entire showing, scaring their two kids, and attacking me.  Yes, the house shows well and is a nice floorplan.  However, none of this means my buyers are going to overpay because of your personal issues.  My buyers submitted an offer based on the facts of the neighborhood, and it's funny that a few months ago, you felt it was a fair price because you paid that, but it's sad you're now going to sit on the market for a very long time because you didn't choose to run your numbers effectively."

Yes, you guessed it, I had buyers submit an offer on a house a few days ago, and it took almost 2 days for the sellers to Reject the offer and not even counter it. Countering it wouldn't really have helped too much anyway because, as I stated above, they just bought the house a few months ago, and because of a pending divorce they're wanting to sell it, but not lose any money on it.

The average home in their neighborhood is taking 176 days to sell. This home isn't average as it's significantly overpriced, so it would probably take more than those 6 months!  These people's mortgage, plus monthly expenses have to equate to at least $3000.  Once they get to the 6 month mark, they're going to have spent another $18,000 and still expect the higher price.  Instead, they could say, "We'll spend $18k for 6 months of living there, or we can accept this gracious offer and close in 30 days..." 

To the sellers, I say, "No, my buyers won't be submitting a new offer on your property as we've already executed a contract on another house and will be closing in 2 weeks. Yes, these were serious buyers wanting to close quickly.  Good luck selling your house."

**Are You Packed Yet?**

donna harris Realtor Austin TX blog

Donna Harris, REALTOR®
RE/MAX Austin Skyline
www.DonnaHomes.coma
Donna@DonnaHomes.com

Austin TX Real Estate

and the surrounding areas of Lakeway, Bee Cave, West Lake Hills, Cedar Park, Round Rock, Spicewood, Circle-C, Steiner Ranch, and everywhere in between... Hill Country Austin TX Real Estate and beyond. Whether you're buying or selling an Austin home, I'll be with you every step of the way. 

For real time Austin TX listings, click here.

** Multi-Million Dollar Producer Year after Year **

Copyright© 2011 By Donna Harris, All Rights Reserved. You may re-blog with links back to this post.
*
Mr and Mrs Seller - Buyers Don't Care that you Don't Want to Bring Money to the Table!! * was first published on donnahomesblog.com.

 

Comment balloon 11 commentsDonna Harris • May 18 2011 11:31AM

Comments

Donna, I do love it that your buyers found something else and moved on.  The lack of logic on the sellers part cost them a deal.

Posted by Susan Brown (Keller Williams NE, Kingwood Texas (Humble & Atascocita too)) about 7 years ago

It really helps when you break out what the actual cost would be to hold onto the house. I never did understand why sellers flat out reject an offer. Counter! Counter! Counter! Nothing beats a try but a failure.

Posted by Dale Samples, REALTOR -Homes for Sale Charleston, West Virgini (304.741.4705 • www.dalesamples.com ) about 7 years ago

Donna, 

Yes, no logic in pricing it higher!  Some folks have their heads in the sand about what their homes are worth.  Even sadder than that is they can find an agent to list it at an unrealistic price, which is a waste of time and will as you say cost them a lot more in the long run!

All the best, Michelle

Posted by Michelle Francis, Realtor, Buckhead Atlanta Homes for Sale & Lease (Tim Francis Realty LLC) about 7 years ago

Donna - What a timely post, at least for me.  Recently, I had two different borrowers make offers based on market value for two overpriced properties.  The sellers eventually indicated that they couldn't sell the home for market value because then they would have to bring money to the table.  Their counters basically indicated that if my borrowers wanted the home for the lower offered price, they had to pay the sellers costs.  SERIOUSLY???  Needless to say, both of my borrowers passed on both properties.  The properties are still sitting active.

Posted by Donne Knudsen, CalState Realty Services (Los Angeles & Ventura Counties in CA) about 7 years ago

I feel your frustration and I have been there..... I wish you the best for your closing.

Posted by David Burrows, No Pressure, Just Seriously Devoted to Real Estate (Classic Realty) about 7 years ago

The times have changed. In 2007 I sold a house to a young couple, here in Jackson Hole. The market was hotter than a two dollar pistol. After contract acceptance and after all contingencies were satisfied, but before closing, the buyer received a job offer in another city that was too good to refuse. Failing to close would have cost them their $50,000 earnest money deposit. So they closed, relisted the property with me, and we resold it in 30 days for a $20,000 profit. Maybe your sellers are still living in 2007? Hah! That bubble has popped.

Posted by Tim Bradley, Commercial Real Estate Expert in Jackson Hole, WY (Contour Investment Properties) about 7 years ago

It is amazing how some people can be so disconnected from reality.  It sounds like these sellers could be a short sale candidate.   Too bad their agent is not on top of things and hasn't steered them in that direction.

Posted by Jim Patton, Realtor - Stanislaus & Merced county Realtor. (Century 21 M&M - 209-404-0816) about 7 years ago

Susan, I always try to get buyers to have a backup for the just in case.

Dale, I tried to get a counter, but the agent said they would counter full price.

Michelle, This agent said she's told them, but they want their price.

Donne, This is a public post so maybe you can email it to the listing agents!! :)

David, Thanks!

Tim, That NEVER happened in Texas. We didn't have a bubble, and I'm happy about that.

Jim, The agent says they don't want to hear it...

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) about 7 years ago

Donna,

I guess we all ran into thhis type of reasoning. Oh, no, I can't sell for this amount as I need to net this and this amount, so that I can pay off this and this.

Congratulations on reaching 900K AR points. See you soon on the Oplympus

Posted by Jon Zolsky, Daytona Beach, FL, Buy Daytona condos for heavenly good prices (Daytona Condo Realty, 386-405-4408) about 7 years ago

These folks have not heard about "Chasing the Market Down?"  Glad your buyers found a better deal!

Posted by Joshua Harley, CEO, Tech Geek, Innovator, Disruptor, US Marine (Fathom Realty) about 7 years ago

It's too bad they don't realize this from jumpstreet.  Not to be unsympathetic to their plight, but having to bring money to the take is their problem not the buyers.

Posted by Charita Cadenhead, Serving Jefferson and Shelby Counties (Alabama) (Keller Williams Realty) about 7 years ago

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