Offer To Buy Off Owner Before Closing??? HELP
I reaaly need help on this on and hope I am in the right place.
I put a bid on a house (triplex) last fri 3-5 I think that was good for 24 hours on a house that was only for sale 5 days and was told a lawyer was handling it as the owner was in a nursinfg home./ Asking price was 70k And this house is right by my mother's house and I have other props nears by so I am always in the neighborhood. I offered 63500 as house needs about 15-20 to get it nice.
on tueday afternoon(3-9) I got a call from my Agent (she is not the listing agent) and said the listing agent called her and the lawyer wants wants my highest and best bid as there were 2 other bids on the house.(Do not ask me how I know this, but my bid was the highest of the 3 at that point). I still wanted the house but was a little ticked and did put a bid in of 66K on wed 3-10 and was told I will have an answer in a day. Thursday I was told the propr was sold to someone who bid higher than me.-close to the asking price of 70K. After thinking more about this propery and the CONVENIECE FACTOR It would have been 3 props within 1 block for me)I am ticked because I did not get it and am beating yself up over it. Money is tight, but I could get it and make out OK.
MAIN question, can or should I go the the agent of the potenial purchaser and offer them more than they paid for the prop by a few grand??? And how would I go about doing this How should I word this???? Offer them cash and something for the agent also.?? The potential purchaser used a different agent form the listing agent also.
Thanks MUCH in advance, I am just getiing started but have 3 duplexes and 1 quad since sept and if I got this one I would think I would be done for a while. I am still kicking myself and my agent is telling me to go to the board of realtors over the 1st bid put in w/no reply for 4 days--but I do not think anyone would win and would ending just dragging people down.
I NEEP HELP ON THIS ONE AND FAST>>>>!!!![ Edited by jenkie01 on Date 03/13/2004 ]
I did try to call my atty but he is away until monday to see what he says about this..
If your not willing to make waves I would pass, more deals will come your way
If the purchaser is not an investor and wants to be a home owner you are up against a whole lot of emotion....
I hope that you will tell us what your attorney says. I think that the best avenue is to just ask the buyer's realtor if her clients would consider this? Promise the realtor that you will continue the contract/commission through him/her. The seller can do whatever he/she wishes, including not answering offers for forever. The only option you have there is to put a deadline on your offer so that the seller knows that you will withdraw the offer after that date. Of course, if you really want the offer, that is a silly thing to do. With these multiple offers, the REALTOR did what is appropriate and best for the person she is working for, the seller. She notified everyone that there were multiple offers and told all 3 of you to get in your best offer so that the seller could pick the best one. Sometimes, however, the highest offer is not the one that the seller picks. Other factor factors come into play, such as the perceived ability of the portential buyer to actually come through with the money. Good luck, Molly
Thanks for the info, I called a friend 'in the business' and was told to have my atty call the realestate office of the purchaser and talk to them and get a feel for what is going on and to act on that info , was told the real estate contract can be sold, also he said the prop might not appraise out or that the people might not be able to get a loan. But I know how my luck usually runs, so I am not getting my hopes up. What makes it al the worse is that I will now see my mistake everyday as I check on the other properties. Oh Well............
Spoke to atty and he contacted the listing agent, etc......He said the agent contacted the high bidder abd said he wants the prop and will not sell for a premium-even before he put up a dime. I also contacted my realtor (not my agent) and tried to get in the back door.....Well was told I will be 1st in line(my bid was higher, but the winning bidder agreed to buy (AS-IS) with no inspections-and I had structure and termite inspection in my offer) if the deal falls thru for any reason, but that is about it.
Well ,live and learn (and kick my butt over and over) and bid as to how bad I want the property-I had tennants all lined up...............