home buying

Profile picture for caroseldragon
me and my wife are looking into buying a home and are alittle confused,we have looked on real estate websites and noticed that one week a home is one price then the next week the property has went up 10,000 dollars to 30,000 dollars more.is this legal for them to do?
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August 27 2010 - US

Replies (7)

Profile picture for Destin.Fl.Realtor
Wow, this is very unusual in my local market. I am in Florida. I cannot say as to whether it is legal. That is an attorney question. But I can say that sellers can and do change the prices on homes. Though, in this market it is rarely to add to the price. It sounds like you are in a stable market. I would definately contact a local Realtor to get more specialized advice. Most Realtors will work for the buyer for no charge. The commission is usually paid by the seller at closing. I'm sure someone would be happy to work with you and discuss your needs individually.
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August 28 2010
Profile picture for azrob
A person can change their home's price whenever they want, so yes this is legal. Why they would do it? maybe it is a short sale, and the bank has responded with a different price, that is one possibility.
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August 28 2010
Profile picture for klarek the realist
Or maybe they quoted a price to their incompetent agent who listed it incorrectly.  There's no shortage of dumb sellers or dumb agents out there.
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August 28 2010
Profile picture for Tulsa RE
Or maybe, the incompetent seller quoted the wrong price to the agent who listed it correctly as instructed and then the seller realized their mistake. Maybe the seller was just playing games with buyers – who knows. There is no shortage of dumb sellers, dumb buyers, plus a few dumb agents.
When a home is under construction, it is common for the price to increase as the builder adds more items to the home than they had originally planned, or adds more sq footage, additional garage etc, hence the price increase.
A price increase is not illegal.
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August 28 2010
Wow! 

That's number is supposed to go down right? Not up...

I don't know what state your in...  I'm in Oregon. 

I do know that the seller can change their price, up or down.
 Normally it goes down.

However, with bank owned homes, I have known REO agents to complain the they get a full priced offer and the bank decides to change the price to higher.

We have experieced that here!  I wish you the best of luck.

Kimberly Kinville
East Metro Specialist
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August 28 2010
Yes the seller can change the price either up or down...it is like selling a car and changing the sticker price.

Eve in Orlando
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August 30 2010
Profile picture for broker_GRI
CaroselDragon,
As many have answered, a seller may change an active listing price.
If you are referring to sites such as this (Zillow), the prices  will fluctuate for many reasons...closings (sold properties) in the neighborhood.

Take this time to interveiw agents/mortgage consultants until you find one you feel comfortable working with.
Once you find  good representation....Finding the right home will come more easily.
All the best,
Tanya
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August 30 2010
 
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