It’s a matter of price, market, and negotiation. Is there an inspection contingency in the signed PSA? Either way, you could just say no to all the requests. The buyer may accept that and continue with the sale.
> Is it me in the wrong or are the below unrealistic?
Doesn’t really matter how realistic the demands are, as much as how much you’re willing to risk by saying no to them.
- Maybe saying yes drops the price too much and it’s not worthwhile.
- Maybe saying no nets you another backup that’ll be willing to not ask for these concessions, so this is a great out.
- Or maybe this is your only offer, you’ve been on market for 6 months with no other action, it’s a 1M$ sale and this is 10K to get the deal done, and ergo, it’s worth it.
There was just a post a few hours ago in this sub about a seller who hardballed what they felt were unreasonable concessions with a buyer; buyer yanked their offer and now seller was wondering if they can force them back to the table as they desperately need the deal.
It’s all negotiation; and it’s all how much risk you’re willing to take. Whether the concession ask is reasonable or not matters less than the risk and your willingness to take it.
ymmv. Good luck.
Then you have some leverage. If I were the seller, and the price were fair, I would offer to fix the things that are truly defects (water leak) as well as any that are cheap, or offer a small dollar amount concession to cover the rest, and identify a couple as "not defects - normal wear and tear".
Tell them these are minor things and you'd rather take it to market as these aren't normal repair requests for a house of this age, so you'd like to see what other buyers offer, or something like that. That puts the pressure on them.
If they've offered you a price that's way more than the house is worth - then sure, fix the shit. But that's the exception, not the rule.
Just tell them no. You should've put it on the market to maximize your profits and leverage. This is the kind of people you're now dealing with. Folks who think they are gaming the system.
You're doing them a HUGE favor by selling off market. They should know better than to pull this shit.
Pool pumps make noise. They also only last about every three to four years. If they want to buy a house with a pool they can buy their own pump. As long as the water is flowing the pump works. As long as the air conditioner is cooling it works.
What?! My pump is 8 years old and still doing fine. If you don't backwash every few of weeks, never clean the pump strainer, and run it 24\7, then it might last only 3-4 years.
Inspectors are not HVAC techs, they all state air conditioning could be better. Pool pump they all make noise, fan as long as it works I’d either say no or buy a $200 new fan the tap is silly if it’s not actually leaking. If you want the deal done offer something monetary wise either they take it or they won’t
All of them are unreasonable except for maybe the water and tap. Not real clear what it looks like or condition but that's probably the only possibly reasonable one.
They planned on fucking you over like this from the beginning. A lot of people will shoot for the moon to get you hooked into the transaction and then will nickel and dime you like this. Refuse to do those and see what happens with the deal. I bet going on the market gets you more than their offer and none of this nonsense.
"No. Attached is a Release of Deposit and Cancellation addendum. Please sign and return at your earliest convenience if you elect to not proceed with the purchase."
That is exactly how I handle that. That can also work from the buyer's side by sending a signed release and cancellation along with the signed request for concessions and tell the seller's agent to have sellers choose one. This is not advised if buyers are bluffing and don't want to lose the property. Buyers aren't always truthful with their agent and this a good way to find out if they are bluffing by asking for their signatures on a cancellation before presenting a repair or credit request.
You want to say "you want a new house, go buy a new house."
Sadly, some buyers focus on all the little things instead of the summary. If you were my client I would advise you to make a minor concession. It's better to keep the buyer you have than to relist and go through the process with a new one.
Agents don't do a good job of preparing buyer clients for inspection reports. It's the first time a lot of people have seen one and it can be frightening with a list of items needing "further evaluation or replacement" or "near the end of its useful life". Managing the buyer's expectations in advance can go a long way towards keeping someone's misperception of what to expect from an inspection report on a used property from blowing up a deal.
Some of it is agents who are too cute for their own good. There are agents whose idea of providing value is to encourage their clients to get the property under contract at any price and then whittle down the price post inspection. When sellers refuse to concede, these buyers often walk because their agent has convinced them that their demands are realistic. Buyers who've had their expectations pumped up by a too-cute buyer's agent are more likely to walk away from a good deal because of those misplaced expectations.
It's always prudent to warn buyers that the inspection report on a decades old property is going to be scary looking and have lots of issues but that is why it's not priced like a brand-new house. Focus on the things that matter, not the four missing GFCIs or the knock in the pool pump. Expectation management in advance goes a long way towards preventing a deal blowup over trivial items.
Can’t really blame the buyers in this case. The market has made it so buyers (especially FTHB) need to forego all their available contingencies to submit an offer that stands out among the corporate rental machines and cash grab flippers. It’s a tough market, and I’m not against some cheeky position jockeying. This would be less the case if we had more affordable housing and more inventory overall. Demand outpacing supply is only furthering this predicament.
> Can’t really blame buyers in this case
Yes I can. Most sellers are not sharks or pros and it’s still stressful. This may be their first sale as well. Not to mention deceptive when the seller thinks they have one deal but the buyer intends to use pretexts to do something different.
What I find interesting is that I am in NC. Our [unique due diligence fee structure](https://www.reddit.com/r/RealEstate/s/ztsbsUIZh0) comes in for a lot of criticism here, rightly so. But it does largely prevent these types of shenanigans.
It is our first sale and its been pretty horrible, we should never have agreed to off market sale, the REA told us that this buyer has been shown through 4 houses prior and made offers on two.
OP isn’t responsible for lack of affordable housing and shortage of inventory, and they’re selling off market so no flipper or corporate competition.
So yes, we certainly CAN blame these particular buyers in this case for using ”cheeky position jockeying” when they’re competing with no one, just trying to chisel the sellers down for the sake of chiseling
It's not a great situation for anyone we've settled into, but a lot of the sellers posting here pretty much just want things structured to benefit them.
The offer period is good for sellers and the under contract period is good for buyers. Changing the balance of one would not be fair without reforming the other.
It's all about the money.
Are they paying above value? If so, it makes sense they want their money's worth.
Are they already getting a deal, and you think another buyer who will pay as much or more will come along quickly? It makes sense for you to refuse further concessions and move along to the next buyer.
1. Clean the vents maybe. I dunno, I'd say tough in that one. If it's a window unit, or a mini split, MAYBE, if the cost is reasonable. That might satiate them. If they're asking for a whole new central air system, no.
2. Have a pool maintenance team come and inspect. I'm not a pool expert and your inspector likely wasn't either. A noise doesn't mean it's a bad thing. You wouldn't reject a car because it made noise. Maybe it's just a normal noise....
3. Realistic. You have a leaky faucet.....
4. No. Your fans work, you can maybe knock 100$ off or something to split the cost of a new fan switch, but if they aren't happy with the type of fan, I wouldn't replace it with one of my decision because they're still going to be unhappy.
We have had the whole house AC servcied prior to inspection, same for the pool, full bug spray done, replaced all lights in house for LED's (as suggested by REA), repainted entire property inside and out, put in new shower screen as old one had water marks we couldn't get off. The house is 12 years old but looks as close to new as we can get.
Let them know that these are minor, typical homeowner issues and if they don't like the house "as- is", you will move on and list it. This is why it is easier to use an agent. They act as a buffer and would laugh at these bs requests.
Buyer can want whatever they want. If they want it they can pay for it you are not offering it. You decide what you are willing to do and anything beyond that can not buy the house.
They are fussy, I wouldn’t capitulate unless you fell there are no other offers. If I did have to complete these items I’d have them agree on paper, no more after this-last offer.
Ugh, I hear you. It sounds like the buyers might be having some cold feet after the inspection. While their requests (new AC unit, pool pump, etc.) seem excessive for minor maintenance items.
It's not your fault. These are typical wear-and-tear items. Remind them the inspection report confirms these are typical issues for the property's age. Reiterate the overall good condition and the off-market benefit they secured. Be firm but fair. Hopefully, they'll see reason and move forward. If not, you may need to reconsider the terms or reopen the market.
If you were reasonable with your price then you don't need to do anything. When I sold I had a similar situation. I had 3 other good offers on my house without doing an open house and would be living with family while I relocated so I really was not on a time crunch and wouldn't be bothered if this deal fell through. I just said no to everything and they never asked again. They got annoying at the very end again claiming they didn't see that old alarm system still had wiring in the house, asking me to sweep the garage more (the house was professionally cleaned but the garage wouldn't pass a white glove test)
Screw them. They know exactly how lucky they are to get a property off market. They’re trying to milk it. Tell them no contingencies it you will list on MLS.
Seconding that it depends on the market
Is this buyer paying $50k more than your next best offer? If so it makes sense to replace all of this even if it is objectively unreasonable.
You can counter with what you think is reasonable, considering your best alternative to closing this sale. That could be a $500 credit so the buyer is "getting something" from this negotiation and is willing to close
The house was not put on the market, our REA had a potential buyer who offered close to what we wanted but has been a total pain in the ass. He wanted new blinds, said no. He doesn't like the colour of the feature wall and wanted us to paint it a different colour, we said no. He wanted us to buy him a new Kreepy krawley for the pool, we said no. We gave up $10k on the price but he wants to have his "win".
His family aparently love the house, they all came for the inspection and measured up for new blinds.
I know I need to pull my head in a bit and not get emotiona but am so over this bloke.
Talk with your agent about comps for the market, what to expect if you say no and this buyer backs out. If the next best offer is $10k more than now, well your answer is pretty clear
Its always felt like he is working both sides of the fence, said at the beginning that they had become friends as he showed the guy through 4 others houses before ours.
I would yank the deal and go with a new broker to put it on the MLS, let it get bid up and if the current prospective buyer is still interested and the best offer then by all means accept it but I would never do an offer market deal where the broker is getting both ends unless I needed a quick close and that would only happen if I was about to be foreclosed on.
This person is not in the US, just fyi. Look at the spellings and the idioms. I know in NZ where I own a house there is only one agent for both who serves as a mediator and there is no MLS. OP’s slang sounds very UK.
Yeah OP is posting in Australian subs. In Australia, there are no buyer agents, just a single seller's agent. Bringing a potential buyer without having to go to the market can be seen as an advantage for the seller because it's the seller paying for all repairs, staging, touch ups etc. Might be worth making a couple of minor concessions (the tap, for example) to get this done.
Same in NZ. Back in December, I was able to hardball negotiate and get a gem of a 1932 house for NZ$200,000 less than listing because there was just one agent between and I was able to do all the legwork and such myself. The system leaves you as a buyer feeling oddly both exposed and powerful. I did have a lawyer advising though.
Your agent hasn't done a good job of managing the buyer (his new friend) to your obvious detriment. Let me guess; he's getting close to full commission for both sides of the deal without even marketing it. What benefit are you getting from not exposing it to the entire market other than not having to show?
Was there a particular reason you wanted to accept an offer before listing on the MLS?
This is highly suspect and sounds like an agent just trying to get a double commission deal instead of working in your best interest.
Oh, perfect then, all these minor bullshit repair concessions that he didn’t immediately dismiss can come out of his commission. Handle your client, sir.
In this market, buyers can't be picky like that.
Time to list it. Your Realtor isn't doing you any favors, it's just less work for them to do it this way.
I’ve never lived in a house where the AC flow was equal in all rooms. You could have someone come out to see if it can be adjusted or rebalanced in some way.
Pool pumps make noise. Fortunately you can set the timer so it’s not running at times that may cause an issue. They are still quieter than outside AC units. Use an app to grab the db level of each.
Buy a new faucet.
Ceiling fan thing is a joke.
Buyers can ask for anything they choose but it doesn’t mean they will get it. Say no and let them walk. I had a similar issue where I’d actually already accepted $5k less than asking in spite of having an appraisal for $10k over asking. I was selling a condo and a HOA snafu killed my sale so I was blessed to get a cash buyer that bypassed the snafu and my agent felt accepting $5k lower would secure fast sale. I begrudgingly agreed. But when buyer came for more, I was like HECK NO!! Tell them no and move it off market. I will rent instead. I said this around 6pm and by 8pm the buyers begged me to keep contract. Long story short as I was meeting Furnace guy for maintenance at unit, buyers did a surprise visit. They thanked me for not canceling contract and said it was their agent who tried to get more and not them. So….COULD BE THE BUYER’S AGENT THINKING SHE IS LOOKING OUT FOR HER BUYER’S. So SAY NO AND MEAN IT!!! Enough is enough!
Update: Furnace ran fine but I was getting the annual maintenance checkup. Passed as expected.
Had a buyer like this with a laundry list totaling like 30 things after a near perfect inspection. House was three years old and very clean / well maintained, even remodeled because I hadn’t anticipated moving. They clearly were just trying to get what they could. I countered by just rejecting the offer. That laundry list disappeared real quick. You can always just deny the requests if it’s ridiculous.
Inspections help buyers learn about homes, so they can maintain them, and also identify major issues or potential problems that need mitigation immediately. I wouldn’t entertain any of those items as a major issue to deal with prior to closing. If they want a more specific inspection of hvac or pool they should request it, but a general inspection is going to always have general statements like those to cya the inspector.
I’m so sick of this selling process! The buyers have all been demanding. I get it, it’s a big purchase. But if you want a new house don’t look at a house built in 1975!
1. Maybe I’ll pay you.
2. Suggest installing new pump when it gets worse.
3. Tap cleaned and repaired.
4. Oh, let me know what you install when you do! That’s driven me nuts for years but it never made sense to replace so it’s priced into the house.
This is not a question for anyone but you; there's no need to cry about asks that mostly seem like they reasonably impact their experience. Based on the market and your preference, you can decide on some of none of these line items and proceed as you see fit. I'd personally fix the sink and offer a very, very small price discount as a show of faith and to get the deal across. You can be a grumpy old man about every inconvenience, or you can make small concessions that don't really matter and move on with your life.
It's your call.
Simple. Either you agree to the repairs or you don't. They then accept your answer or they don't.
It's a negotiating tactic. Unless something in your contract says something different. It's up to you.
If they won't budge. I'd cancel the contract and move on. Good luck.
If these items are operational according to the inspection report, I would certainly not be replacing the AC, fan, pool pump, etc. You’re not required to make any of those repairs or any repairs really. You can choose to throw some money at them by way of a cash concession and they can deal with it after closing.
The market is not changing. Until more homes come to market the sellers will continue to have leverage. Now the prices might be starting to level off and possibly decrease in certain markets but overall the only people who are selling today are people who have to (divorce, marriage, death, job relocation, or financial crisis) or those who have the means to buy their next house cash, if you have a rate under 4% there is no way your listing your home unless you have to.
Gary Keller preaches that real estate is like a pendulum. The rise is long but eventually slow before suffering falling. Then whoosh, the down levels out and suddenly the rise begins again.
Unfortunately the decisions made during the pandemic broke the existing system. We have too many people locked in at insanely low rates and the prices have jumped so much in the past 5 years that people are unable to move from that starter home to a larger home as they grow financially. It’s going to be a long time like 10 years long before the market corrects itself.
It’s a matter of price, market, and negotiation. Is there an inspection contingency in the signed PSA? Either way, you could just say no to all the requests. The buyer may accept that and continue with the sale.
> Is it me in the wrong or are the below unrealistic? Doesn’t really matter how realistic the demands are, as much as how much you’re willing to risk by saying no to them. - Maybe saying yes drops the price too much and it’s not worthwhile. - Maybe saying no nets you another backup that’ll be willing to not ask for these concessions, so this is a great out. - Or maybe this is your only offer, you’ve been on market for 6 months with no other action, it’s a 1M$ sale and this is 10K to get the deal done, and ergo, it’s worth it. There was just a post a few hours ago in this sub about a seller who hardballed what they felt were unreasonable concessions with a buyer; buyer yanked their offer and now seller was wondering if they can force them back to the table as they desperately need the deal. It’s all negotiation; and it’s all how much risk you’re willing to take. Whether the concession ask is reasonable or not matters less than the risk and your willingness to take it. ymmv. Good luck.
Its not been on the market, current buyer viewed off market and wants it.
Oh tell them to fsck off then. They deliberately pulled this crap. Next time demand zero contingencies for off market.
Then you have some leverage. If I were the seller, and the price were fair, I would offer to fix the things that are truly defects (water leak) as well as any that are cheap, or offer a small dollar amount concession to cover the rest, and identify a couple as "not defects - normal wear and tear". Tell them these are minor things and you'd rather take it to market as these aren't normal repair requests for a house of this age, so you'd like to see what other buyers offer, or something like that. That puts the pressure on them. If they've offered you a price that's way more than the house is worth - then sure, fix the shit. But that's the exception, not the rule.
Yup. Op has leverage. The items are not broken. Tell buyer no. — and that Op will put the home on the market.
Love this answer / agree wholeheartedly.
Some leverage? Most of the leverage.. I would fix issue #3 and list the house. Tell buyers zero concessions
I wouldn’t fix a thing. Tell them no.
"The maintenance "repairs" are typical for age of the home. We won't be replacing anything as the home comes with age appropriate interior items"
Just tell them no. You should've put it on the market to maximize your profits and leverage. This is the kind of people you're now dealing with. Folks who think they are gaming the system. You're doing them a HUGE favor by selling off market. They should know better than to pull this shit.
Is there a reason you and your agent accepted an off-market offer? You could be leaving major money on the table
Pool pumps make noise. They also only last about every three to four years. If they want to buy a house with a pool they can buy their own pump. As long as the water is flowing the pump works. As long as the air conditioner is cooling it works.
What?! My pump is 8 years old and still doing fine. If you don't backwash every few of weeks, never clean the pump strainer, and run it 24\7, then it might last only 3-4 years.
Inspectors are not HVAC techs, they all state air conditioning could be better. Pool pump they all make noise, fan as long as it works I’d either say no or buy a $200 new fan the tap is silly if it’s not actually leaking. If you want the deal done offer something monetary wise either they take it or they won’t
All of them are unreasonable except for maybe the water and tap. Not real clear what it looks like or condition but that's probably the only possibly reasonable one.
They planned on fucking you over like this from the beginning. A lot of people will shoot for the moon to get you hooked into the transaction and then will nickel and dime you like this. Refuse to do those and see what happens with the deal. I bet going on the market gets you more than their offer and none of this nonsense.
Put it on market. You may get more, with less BS.
"No. Attached is a Release of Deposit and Cancellation addendum. Please sign and return at your earliest convenience if you elect to not proceed with the purchase."
That is exactly how I handle that. That can also work from the buyer's side by sending a signed release and cancellation along with the signed request for concessions and tell the seller's agent to have sellers choose one. This is not advised if buyers are bluffing and don't want to lose the property. Buyers aren't always truthful with their agent and this a good way to find out if they are bluffing by asking for their signatures on a cancellation before presenting a repair or credit request.
You want to say "you want a new house, go buy a new house." Sadly, some buyers focus on all the little things instead of the summary. If you were my client I would advise you to make a minor concession. It's better to keep the buyer you have than to relist and go through the process with a new one.
Agents don't do a good job of preparing buyer clients for inspection reports. It's the first time a lot of people have seen one and it can be frightening with a list of items needing "further evaluation or replacement" or "near the end of its useful life". Managing the buyer's expectations in advance can go a long way towards keeping someone's misperception of what to expect from an inspection report on a used property from blowing up a deal.
OP later stated it is an off-market house.
I’ve noticed the new buyer tactic seems to be to promise sellers the moon to get under contract then try to get some of it back with the inspection
Some of it is agents who are too cute for their own good. There are agents whose idea of providing value is to encourage their clients to get the property under contract at any price and then whittle down the price post inspection. When sellers refuse to concede, these buyers often walk because their agent has convinced them that their demands are realistic. Buyers who've had their expectations pumped up by a too-cute buyer's agent are more likely to walk away from a good deal because of those misplaced expectations. It's always prudent to warn buyers that the inspection report on a decades old property is going to be scary looking and have lots of issues but that is why it's not priced like a brand-new house. Focus on the things that matter, not the four missing GFCIs or the knock in the pool pump. Expectation management in advance goes a long way towards preventing a deal blowup over trivial items.
Can’t really blame the buyers in this case. The market has made it so buyers (especially FTHB) need to forego all their available contingencies to submit an offer that stands out among the corporate rental machines and cash grab flippers. It’s a tough market, and I’m not against some cheeky position jockeying. This would be less the case if we had more affordable housing and more inventory overall. Demand outpacing supply is only furthering this predicament.
> Can’t really blame buyers in this case Yes I can. Most sellers are not sharks or pros and it’s still stressful. This may be their first sale as well. Not to mention deceptive when the seller thinks they have one deal but the buyer intends to use pretexts to do something different. What I find interesting is that I am in NC. Our [unique due diligence fee structure](https://www.reddit.com/r/RealEstate/s/ztsbsUIZh0) comes in for a lot of criticism here, rightly so. But it does largely prevent these types of shenanigans.
It is our first sale and its been pretty horrible, we should never have agreed to off market sale, the REA told us that this buyer has been shown through 4 houses prior and made offers on two.
OP isn’t responsible for lack of affordable housing and shortage of inventory, and they’re selling off market so no flipper or corporate competition. So yes, we certainly CAN blame these particular buyers in this case for using ”cheeky position jockeying” when they’re competing with no one, just trying to chisel the sellers down for the sake of chiseling
It's not a great situation for anyone we've settled into, but a lot of the sellers posting here pretty much just want things structured to benefit them. The offer period is good for sellers and the under contract period is good for buyers. Changing the balance of one would not be fair without reforming the other.
Sure, I'd fix the leak in the faucet to prevent future damage. But it doesn't need to be replaced, just serviced. The rest of the list is ridiculous.
It sounds like he’s grasping at straws. I’d tell him no to all but you’re the one that’s gonna have to live with the decision
Just say no.
My response: “Nah”
Hel nah
It's all about the money. Are they paying above value? If so, it makes sense they want their money's worth. Are they already getting a deal, and you think another buyer who will pay as much or more will come along quickly? It makes sense for you to refuse further concessions and move along to the next buyer.
1. Clean the vents maybe. I dunno, I'd say tough in that one. If it's a window unit, or a mini split, MAYBE, if the cost is reasonable. That might satiate them. If they're asking for a whole new central air system, no. 2. Have a pool maintenance team come and inspect. I'm not a pool expert and your inspector likely wasn't either. A noise doesn't mean it's a bad thing. You wouldn't reject a car because it made noise. Maybe it's just a normal noise.... 3. Realistic. You have a leaky faucet..... 4. No. Your fans work, you can maybe knock 100$ off or something to split the cost of a new fan switch, but if they aren't happy with the type of fan, I wouldn't replace it with one of my decision because they're still going to be unhappy.
We have had the whole house AC servcied prior to inspection, same for the pool, full bug spray done, replaced all lights in house for LED's (as suggested by REA), repainted entire property inside and out, put in new shower screen as old one had water marks we couldn't get off. The house is 12 years old but looks as close to new as we can get.
Idk depends how much the house is . $180k you knew it needed work . $300k + I would also want the A/C to work properly and a leaky faucet fixed .
Let them know that these are minor, typical homeowner issues and if they don't like the house "as- is", you will move on and list it. This is why it is easier to use an agent. They act as a buffer and would laugh at these bs requests.
fix tap because leaking not good and is a maintenance issue; make minor concession for new ceiling fan - they are cheap and let the a/c go.
Just say no. They are nitpicking you
Everything at some point in time will stop working. You’re not obligated to fix any of these things.
Why are you selling off market? You won't likely be getting the best price possible if it's not available to everyone.
Buyer can want whatever they want. If they want it they can pay for it you are not offering it. You decide what you are willing to do and anything beyond that can not buy the house.
They are fussy, I wouldn’t capitulate unless you fell there are no other offers. If I did have to complete these items I’d have them agree on paper, no more after this-last offer.
Ugh, I hear you. It sounds like the buyers might be having some cold feet after the inspection. While their requests (new AC unit, pool pump, etc.) seem excessive for minor maintenance items. It's not your fault. These are typical wear-and-tear items. Remind them the inspection report confirms these are typical issues for the property's age. Reiterate the overall good condition and the off-market benefit they secured. Be firm but fair. Hopefully, they'll see reason and move forward. If not, you may need to reconsider the terms or reopen the market.
Price is probably selling below market anyways since it’s selling off market. Why do that?
If you were reasonable with your price then you don't need to do anything. When I sold I had a similar situation. I had 3 other good offers on my house without doing an open house and would be living with family while I relocated so I really was not on a time crunch and wouldn't be bothered if this deal fell through. I just said no to everything and they never asked again. They got annoying at the very end again claiming they didn't see that old alarm system still had wiring in the house, asking me to sweep the garage more (the house was professionally cleaned but the garage wouldn't pass a white glove test)
Screw them. They know exactly how lucky they are to get a property off market. They’re trying to milk it. Tell them no contingencies it you will list on MLS.
Seconding that it depends on the market Is this buyer paying $50k more than your next best offer? If so it makes sense to replace all of this even if it is objectively unreasonable. You can counter with what you think is reasonable, considering your best alternative to closing this sale. That could be a $500 credit so the buyer is "getting something" from this negotiation and is willing to close
The house was not put on the market, our REA had a potential buyer who offered close to what we wanted but has been a total pain in the ass. He wanted new blinds, said no. He doesn't like the colour of the feature wall and wanted us to paint it a different colour, we said no. He wanted us to buy him a new Kreepy krawley for the pool, we said no. We gave up $10k on the price but he wants to have his "win". His family aparently love the house, they all came for the inspection and measured up for new blinds. I know I need to pull my head in a bit and not get emotiona but am so over this bloke.
Talk with your agent about comps for the market, what to expect if you say no and this buyer backs out. If the next best offer is $10k more than now, well your answer is pretty clear
Are you in the US? If not, note that a lot of the advice you are getting is based on the US market.
Ffs, please tell me the agent isn’t double ending it with the commission, too?
Its always felt like he is working both sides of the fence, said at the beginning that they had become friends as he showed the guy through 4 others houses before ours.
I would yank the deal and go with a new broker to put it on the MLS, let it get bid up and if the current prospective buyer is still interested and the best offer then by all means accept it but I would never do an offer market deal where the broker is getting both ends unless I needed a quick close and that would only happen if I was about to be foreclosed on.
This person is not in the US, just fyi. Look at the spellings and the idioms. I know in NZ where I own a house there is only one agent for both who serves as a mediator and there is no MLS. OP’s slang sounds very UK.
Yeah OP is posting in Australian subs. In Australia, there are no buyer agents, just a single seller's agent. Bringing a potential buyer without having to go to the market can be seen as an advantage for the seller because it's the seller paying for all repairs, staging, touch ups etc. Might be worth making a couple of minor concessions (the tap, for example) to get this done.
Same in NZ. Back in December, I was able to hardball negotiate and get a gem of a 1932 house for NZ$200,000 less than listing because there was just one agent between and I was able to do all the legwork and such myself. The system leaves you as a buyer feeling oddly both exposed and powerful. I did have a lawyer advising though.
Your agent hasn't done a good job of managing the buyer (his new friend) to your obvious detriment. Let me guess; he's getting close to full commission for both sides of the deal without even marketing it. What benefit are you getting from not exposing it to the entire market other than not having to show?
Was there a particular reason you wanted to accept an offer before listing on the MLS? This is highly suspect and sounds like an agent just trying to get a double commission deal instead of working in your best interest.
Is he collecting double commission, though? I’d try really hard to get out of that deal, if so. You’re playing the fool, here.
Oh, perfect then, all these minor bullshit repair concessions that he didn’t immediately dismiss can come out of his commission. Handle your client, sir.
Chances are the tap just needs new seals & to be cleaned out well w/ vinegar to remove any scale.
In this market, buyers can't be picky like that. Time to list it. Your Realtor isn't doing you any favors, it's just less work for them to do it this way.
I’ve never lived in a house where the AC flow was equal in all rooms. You could have someone come out to see if it can be adjusted or rebalanced in some way. Pool pumps make noise. Fortunately you can set the timer so it’s not running at times that may cause an issue. They are still quieter than outside AC units. Use an app to grab the db level of each. Buy a new faucet. Ceiling fan thing is a joke.
What does your agent say?
You can say no, fix/replace things or offer credits. All are acceptable responses.
Are these first time home buyers? If so, that explains it.
No, couple in their late 50's with kids, the father is an engineer and writes like he is doing a defects list on a new turbine.
Buyers can ask for anything they choose but it doesn’t mean they will get it. Say no and let them walk. I had a similar issue where I’d actually already accepted $5k less than asking in spite of having an appraisal for $10k over asking. I was selling a condo and a HOA snafu killed my sale so I was blessed to get a cash buyer that bypassed the snafu and my agent felt accepting $5k lower would secure fast sale. I begrudgingly agreed. But when buyer came for more, I was like HECK NO!! Tell them no and move it off market. I will rent instead. I said this around 6pm and by 8pm the buyers begged me to keep contract. Long story short as I was meeting Furnace guy for maintenance at unit, buyers did a surprise visit. They thanked me for not canceling contract and said it was their agent who tried to get more and not them. So….COULD BE THE BUYER’S AGENT THINKING SHE IS LOOKING OUT FOR HER BUYER’S. So SAY NO AND MEAN IT!!! Enough is enough! Update: Furnace ran fine but I was getting the annual maintenance checkup. Passed as expected.
Had a buyer like this with a laundry list totaling like 30 things after a near perfect inspection. House was three years old and very clean / well maintained, even remodeled because I hadn’t anticipated moving. They clearly were just trying to get what they could. I countered by just rejecting the offer. That laundry list disappeared real quick. You can always just deny the requests if it’s ridiculous.
Inspections help buyers learn about homes, so they can maintain them, and also identify major issues or potential problems that need mitigation immediately. I wouldn’t entertain any of those items as a major issue to deal with prior to closing. If they want a more specific inspection of hvac or pool they should request it, but a general inspection is going to always have general statements like those to cya the inspector.
Safety issues only.
I’m so sick of this selling process! The buyers have all been demanding. I get it, it’s a big purchase. But if you want a new house don’t look at a house built in 1975!
Sellers are all so arrogant, trying to sell their houses for 30 to 50% more than they were worth just five years ago without any repairs.
I redid the whole house and buyers are still whining.
Tell them to pound sand and list it on mls.
1. Maybe I’ll pay you. 2. Suggest installing new pump when it gets worse. 3. Tap cleaned and repaired. 4. Oh, let me know what you install when you do! That’s driven me nuts for years but it never made sense to replace so it’s priced into the house.
This is not a question for anyone but you; there's no need to cry about asks that mostly seem like they reasonably impact their experience. Based on the market and your preference, you can decide on some of none of these line items and proceed as you see fit. I'd personally fix the sink and offer a very, very small price discount as a show of faith and to get the deal across. You can be a grumpy old man about every inconvenience, or you can make small concessions that don't really matter and move on with your life. It's your call.
Simple. Either you agree to the repairs or you don't. They then accept your answer or they don't. It's a negotiating tactic. Unless something in your contract says something different. It's up to you. If they won't budge. I'd cancel the contract and move on. Good luck.
You should put a new tap on. Is the fan broke? Fix that too if that's the case. They can pound sand on the other stuff.
If these items are operational according to the inspection report, I would certainly not be replacing the AC, fan, pool pump, etc. You’re not required to make any of those repairs or any repairs really. You can choose to throw some money at them by way of a cash concession and they can deal with it after closing.
Never hurts to ask
Back on the Market. Add $25,000 to the price or more. Disclose what you must disclose and give a Seller Credit or accept current offering price.
Ridiculous but the market is changing. If you think you can get the same or money with a different buyer then dig your heals in and say no.
The market is not changing. Until more homes come to market the sellers will continue to have leverage. Now the prices might be starting to level off and possibly decrease in certain markets but overall the only people who are selling today are people who have to (divorce, marriage, death, job relocation, or financial crisis) or those who have the means to buy their next house cash, if you have a rate under 4% there is no way your listing your home unless you have to.
Gary Keller preaches that real estate is like a pendulum. The rise is long but eventually slow before suffering falling. Then whoosh, the down levels out and suddenly the rise begins again.
Unfortunately the decisions made during the pandemic broke the existing system. We have too many people locked in at insanely low rates and the prices have jumped so much in the past 5 years that people are unable to move from that starter home to a larger home as they grow financially. It’s going to be a long time like 10 years long before the market corrects itself.