In article , snipped-for-privacy@yahoo.com writes: | Sorry this is a off topic but I thought I will ask opinion of the many | home owners here. | | If a house is listed at 450K and my thinking was to extend an offer at | 390K with a ceiling not to exceed 425K, before I had a chance to talk | to the listing agent about our offer, she called tonight and told us | another couple had made an offer earlier today of the amount 420K and | was rejected without a counter offer. | | So this put us in a difficult position.
Most likely that is the intent, regardless of whether the other offer actually exists. It seems odd (though of course nothing is impossible) that the seller would decline to even counter such an offer unless there is something besides the price to worry about (e.g., some completely unacceptable contingency).
| It means there is no sense to | even make an offer,
If it made sense before you received this additional (possibly spurious) information it still makes sense. Regardless of what agents say, I doubt any seller really resents having an (additional) offer on the table. If the other offer was legitimate your offer might give the seller additional reason to think that the asking price is too high.
| if 420K was rejected most likely our max of 425K | will be rejected as well. Or should I still extend on offer according | to the original plan just in case it was a trick and there is nothing | to lose?
Go with your original plan to offer $390k. I'm not sure what you mean about the ceiling of $425k. If you actually put that in the offer then the seller is going to take $425k as their starting point for a counter offer. Stick to a single number. And remember that contrary to popular wisdom you _can_ bid against yourself. Even if the seller rejects your offer with no counter offer there is nothing to stop you from making a new offer at a higher price. Just don't do this too many times. :) Also, keep in mind that sometimes the best response to a counter offer is, ``no.'' I think some sellers will keep countering as long as you are willing to play since they know that they can always go back to your previous offer which you will likely honor.
Once upon a time I was going to make an offer of about 10% less than an asking price. The agent told me that I might insult the sellers and that if that happened they would never sell to me "at any price." I told her that I wouldn't want that to happen, so I didn't make the offer. About a year later I had cause to look at the same house, now for sale directly by the owners at an asking price which I think was pretty close to what I had been going to offer. Unfortunately, by that time I had been spoiled by some of the other properties I had seen (not being in a hurry is both a blessing and a curse) and the original house no longer seemed that appealing. I did mention my experience to the sellers and I got the impression that similar events caused them to dump the agent.
Dan Lanciani ddl@danlan.*com