Why some sellers are destined never to sell their home!

Sometimes you often wonder about the motivation sellers have. They go through the trouble of placing their home on the MLS,expect the Realtor they hired to market and sell the home in record time. Majority realize we`re in a very tough market,so they make an effort to accommodate the potential buyer as well. Others seem indifferent to the whole process of selling a home.

Such is the case we`re involved with right now. We sent an offer for a condominium located in Tamarac, Florida. It`s a 2bed,2ba condominium that's been on the market for 160 days. The home is listed for $112,000 and we sent an offer for $105,000.

The seller`s agent contacted the seller to go over the offer.

The seller was annoyed at his agent for presenting what they deemed a "Low Ball" offer. Currently, there is a glut of condominiums on the market, in the area where this particular condominium is located there are 18 listed ranging in price between $93,000-$128K.

The seller told their agent they won`t settle for anything under $112K. We asked the Realtor if the seller was serious and he was embarrassed. Apparently, this seller will "Hold Out" for a better offer, our buyer refused to met the sellers request and we`re moving to another condominium. Some sellers are destined never to sell their home not matter what.
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August 17 2007 - US
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Replies (10)

Profile picture for doschenkel
Well ....Hmmm... The bid was a low ball offer and maybe they have to get that much out of it to pay it off. It is not always about your client getting a steal.
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August 17 2007
The bid wasn`t a low ball offer, that was the sellers response. They didn`t want a counter either so we moved on.
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August 17 2007
Profile picture for housewise
My cousin just informed me that I should expect to receive an offer (if I ever get one) that is 5% below the selling price. The statistics in our area show that is generally the case. The problem is, many agents don't have these figures readily available and/or are not educating their clients regarding the facts of life. Maybe they are afraid of losing the listing. The bottom line is, that seller deserves not to sell and he probably won't.
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August 21 2007
I usually give the Seller an offer that's good for a certain period of time, say 3
days. They frequently adjust their thinking and counter or accept. The public is super sensitive right now, what with all the silly press reports!
After all all the sellers are buyers. There is a depletion of available houses in certain areas, has anyone else noticed this?
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August 21 2007
Profile picture for condobleep
Well I'm destined to try and sell my condo. I have that situation here also, they have built too many condos and now we can't sell ours. The condo fees and special assessments are outragous and this place has no management or security on site. The special assessments and extra fees alone have been a minimum of $1,500 per year. The foreclosures are really selling though and now they are raising our equity because they are going into auction. But no one has even come to look at the condos for sale for an entire month. I have thought about just buying another place and just letting this place go, I wish I was just renting it and could move out tomorrow! But what a mark on your credit! Any suggestions besides calling an attorney against this poor management company?
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August 22 2007
3days? What if the buyers doesn`t wait? than what? this isn`t buying a condo with a three day right of recession.
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August 22 2007
Profile picture for Alan May
lol... recession....

it's rescission... the right to "rescind"

but a very funny pun. the government has a right to recession, and uses it often.
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August 22 2007
Profile picture for jason717
hello scott, i hope that destiny doesnt happen to me lol
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August 28 2007
Profile picture for btrego777
condobleep, If you decide to buy an new place, I hope you can find a mortgage. Not enough buyers, not enough lenders, but there are more than enough Sellers. Weren't sellers a threatened species about a year ago?
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August 29 2007
The seller has a price stuck in their minds and are NOT motivated to sell.

I tell my buyer's all the time "We're not looking for distressed properties, we're trying to find distressed seller's!"

These people obviously don't need to move, so they are sticking to their price.
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August 31 2007
 
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