Seller being way too emotional?
Tell me what you think. Is this seller way too emotional?
Asking price $192,000. On market for 5 days. 3 unit building.
There are 3 water heaters, ALL need to be replaced. There are also 10 windows that ALL need to be replaced. That’s why I took 12,000 off the asking price because it does need some major repairs.
She never released the LBP, SDA, or the building financials. We put in a addendum stating within 24 hours of signing the contract we need those papers or else I can back out.
Wednesday night we submitted an offer to her agent with a 24 hour offer expiration(expires Thursday at 1201am). The offer was $180,000 with 2% seller help at closing with closing in 60 days. She confirmed she received the offer at 8am Thursday morning. She chose not to respond to us until 7pm Thursday night with a counter offer of $187,000 with 2% seller help and 45 days till close.
Great! We are getting somewhere. I gave her the 45 days till close(I wanted that anyways, but wanted to make her feel like she was winning), I EVEN gave her the $187,000 asking price BUT at 2.5% seller help OR $185,000 at 2% seller help. This was at 8pm Thursday night. Remember offer expires 1201am Thursday night.
Radio silence from her. She decided to go to bed instead of getting this deal done. Her agent asked my agent to extend until Friday at noon. I said no we gave you a deadline, and this seller chose to ignore it. I’m giving her just about everything she wanted, I just want to get the deal done before others come in and start competing with me. There’s 1 empty unit that I told her must remain empty. She flipped out. I even gave her an extra 3,000 deposit, making $500 of that non refundable to show her good faith that I do understand that she wants to rent the unit but I can’t have another one of her tenants in my building. I’m already stuck with 2 of her tenants on fresh 1 year leases. Rents are 50-150$ under market.
So at 1201am Friday morning I text my agent stating that the offer has expired and I’m rescinding it. I send him a new offer to give them when she wakes up. The new offer is:
$185,000 with 2.5% seller help, 45 day closing, still need all the financials and paperwork, giving her over $6,000 for a deposit, $500 being non refundable, and she has until NOON today(Friday) to get back to me or else I’m walking.
She told her agent I was being a bully and being too aggressive. My agent said we should move on which I agree with.
But here’s my question. If you list a house, you get a legit offer (I’m not low balling her here. There’s legit 12-15 grand worth of immediate repairs needed to be done) and you choose to drag your feet, and then call me a BULLY? Come on. I wanted this deal to be done last night. I wasn’t happy about giving her 187,000 but I did to get this deal done. She chose to go to sleep knowing the offer was expiring at midnight.
I’ve got a lot of money tied up and on the line. When I send you an offer I expect you to drop everything and get the deal done because that’s what I’m doing as well. It pisses me off that you would decide to go to bed. So look I wasn’t happy going to 187, but I did, you pissed me off so you lost money by choosing to sleep. And now I’m a Bully?
No. I’m a business man. When I give you an offer I mean it. I gave you a legit, solid offer. I could have gave you one at 160,000 or something really low. But I didn’t want to insult you and I wanted the deal done ASAP.
Do you guys think I was being too aggressive? Or being a bully? Or is this old lady out of her mind? I mean seriously it’s business. Get the deal done.
Thanks for reading. Look forward to your thoughts.
