Join Date: Mar 2007
Location: New England
Thanked 7 Times in 7 Posts
Rep Power: 10
Played and Being Played
When we were looking for a house many moons ago. I kept seeing this one house that my wife and I liked. First it was For Sale, then the For Sale part of the sign disappeared, but no Under Agreement or Sale Pending sign went up, even after weeks. Called my broker several times on it, and she kept saying it wasn't in the RLS Master List, so as far as she knows, it is not on the market. She called the listing broker a few times and never got a response. I asked her if she would mind if I called the listing broker making sure that the listing broker knew that we were working with our broker.
I called and said we wanted to know if the house was for sale and if so when can we look at it. 45 minutes I was inside walking around it and the listing broker said the house has a bid on it, but the sellers hadn't accepted it yet. She didn't know why it wasn't still listed in the RLS database as available as it very much was still for sale. I called our broker and made an offer a few dollars less than asking.
Our broker called a few hours and said that the sellers wanted to know if they could get back to us the next morning as both of their kids were sick. Our broker said something wasn't right, but she couldn't put her finger on it, but we agreed to the overnight wait. Sure enough, our broker was right. The listing agent called her next morning and sellers had suddenly accepted the initial offer.
My guess is that the sellers went back to the party with the initial offer, told them to up the money, else they would lose the house. It was on the borderline of unethical for all parties, because according to our broker, the house was not being listed fairly if the listing was removed from the RLS database.
Since then, I have made it a point to make an offer with an act on date in big ticket items.
When we purchased our boat, the asking was $27,500, I offered $24,500 with 48 h time limit, within hours the seller said $25,000 provided you close in three weeks. Deal was done.