Originally Posted by punjabi
So I made an offer on a boat that was listed at $30k. I offered $25k. This boat has been on the market for at least 6 months. Was originally listed in the mid to high 30s.
I get a call from the broker telling me this boat is all of a sudden the "hot" boat as there have been multiple offers. Someone from out of town outbid me sight unseen. There is a "bidding war" now. I should increase my offer if I really want the boat.
I told him my offer stands. He'll call back. In fact, when he does, my offer will probably drop a couple of thousand.
Am I being overly cynical in thinking this is a game that he's playing? I hate crap like that.
Basically this broker is trying to get you to counter your own offer. Don't fall for it -- one of the oldest tricks in the book.
Most P&S agreements include a "Time is of the Essence" clause, which essentially means that there is a limited time during which the offer must be accepted or countered or it becomes void. Exactly how long that time period could be is subject to interpretation, but the offeror is in the driver's seat. At any time you can provide written notice that you are withdrawing your offer for failure of the seller to accept or counter it.
Don't let this guy toy with you. Send him written notice that you withdraw your offer effective (date/time -- but make it a short fuse) if your offer has not been accepted or countered. Make sure you stipulate the immediate return of your deposit as well. Plenty of other boats out there...