BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
Negotiating a half million dollar home, where the backyard was described in detail in the listing as a selling point.
Listing agent comes back after we submit our offer with "oh, the sellers reserve their right to harvest the vegetables. They were really adamant about this." (No mention in the listing whatsoever, nor did she mention it when I called before writing the offer to ask what is most important.)
Me: Is this a one-time harvest?
LA: Oh, they wouldn't be able to get everything in one time, they'd come back multiple times during the summer and fall - but only this year.
Me: OK, can we get some guidance about this?
LA: They accepted the other offer because that buyer didn't ask about the harvest.
What is the silliest reason your offer wasn't accepted?
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
6y
Interestingly enough......crops are emblements....they are personal property, not real property. You typically retain the right to return and take the next harvest.
Developer · Bellefontaine Ohio · Member since 2016 · 371 posts · 219 votes
6y
Once had a almost asking price offer on a single family, that had been on the market for 9 mos, turned down because they did not want to wait on a bank to follow thru with my preapproved credit offer. This was in late 2008. Also it had some really strange mods done, that needed removed, like a wall that was built right up to the middle of a window, it could be opened from either room, so I guess that’s sort of a bonus???
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
6y
Interestingly enough......crops are emblements....they are personal property, not real property. You typically retain the right to return and take the next harvest.
Rental Property Investor · Portland OR · Member since 2018 · 2k+ posts · 3k+ votes
6y
@Lynnette E. i dont know what they grew, but growing food/plants is back breaking work. If they planted enough to harvest all season more power to them.... there are *many* items that can be harvested, over time. And fwiw, poppies already bloomed and podded ;). But corn, squash, tomatoes, berries, all sorts of fruits, are just coming into season!
@Lynnette E. i dont know what they grew, but growing food/plants is back breaking work. If they planted enough to harvest all season more power to them.... there are *many* items that can be harvested, over time. And fwiw, poppies already bloomed and podded ;). But corn, squash, tomatoes, berries, all sorts of fruits, are just coming into season!
Just seems for a private residence, not a farm or commercial land, it would be intrusive to return multiple times, would run up the water bill if the crops get watered, would increase the risk of the old owners falling or getting hurt from harvesting or weeding. I would think it would need to be a high value crop to make it worthwhile to be that intrusive to the new owners, and have the price reduction that would come with that.
New to Real Estate · Iowa City, IA · Member since 2019 · 38 posts · 9 votes
6y
I had a counter offer rejected on us when were selling our personal property... yes that is right we were countering the offer they had made. because they decided they were too old and couldn’t properly maintain the property... they then made another offer a few weeks later for another 10K off... We didn’t respond.
Real Estate Agent · Dallas, TX · Member since 2020 · 28 posts · 28 votes
6y
I haven't had an offer rejected for silly reasons (that I knew about), but I've had an offer accepted that was $k's lower than another offer b/c they liked the way I wrote the offer (which was no accident). I made sure the offer gave the seller all the little things, and I asked for a low price (and not all-cash like you might think).
Interestingly enough......crops are emblements....they are personal property, not real property. You typically retain the right to return and take the next harvest.
So I'm glad someone brought up emblements. When I researched this, it's sort of ambiguous but says the person owning the crops must do work to tend them (specifically excluding mushrooms as there is nothing to do there) and the general feel of the explanation was commercial, not residential.
But I couldn't find any real guidance on this.
And yes, Mary, it was tomatoes, basil, cucumbers and a couple of peppers. And probably 10,000 zucchini.
But if this is so important, why wouldn't you just add this language into the listing?
Negotiating a half million dollar home, where the backyard was described in detail in the listing as a selling point.
Listing agent comes back after we submit our offer with "oh, the sellers reserve their right to harvest the vegetables. They were really adamant about this." (No mention in the listing whatsoever, nor did she mention it when I called before writing the offer to ask what is most important.)
Me: Is this a one-time harvest?
LA: Oh, they wouldn't be able to get everything in one time, they'd come back multiple times during the summer and fall - but only this year.
Me: OK, can we get some guidance about this?
LA: They accepted the other offer because that buyer didn't ask about the harvest.
What is the silliest reason your offer wasn't accepted?
Are you sure you didn't mean a $500,000 farm? That had better be one impressive garden to add the encumbrance. Hilarious
Interestingly enough......crops are emblements....they are personal property, not real property. You typically retain the right to return and take the next harvest.
Just shocking that they would pay any mind to a backyard garden in a $500,000 deal.
REALTOR® · Brockport, NY · Member since 2015 · 3k+ posts · 4k+ votes
6y
"Oh you mean the Patriots fan? My clients don't care what he offered!"
I guess they were watching on camera while my TB12 Jersey wearing buyer was walking through the "Bills Shrine" in the man cave. I thought nothing of it and my buyer didn't do anything when in there that was memorable. He was actually looking at the space and i didn't think anything of it. It was a multiple offer situation and I'm sure they "looked" and went with something better.
Rental Property Investor · Black Mountain, NC · Member since 2019 · 16 posts · 13 votes
6y
Turned down my CASH offer because it seemed "fishy". I had no contingencies except for home inspection. They went with the guy getting a VA loan. oh well. I really wanted that property. That's why I offered CASH!!!!
Had a full price offer rejected because I accidentally included the name of a deceased owner on the offer to purchase. Wrote the offer to exactly who tax records reported as the home owners. Home sat on the market an additional month and closed for way less than it should have.
The flip side is how we DID get into one of our properties. We were the back-up offer on a Colorado rental. The buyers in first position walked because during the the inspection, "the house smelled too strong of weed". Previous owners were probably growing in the basement, but who cares? We we more than happy to step in and win the sale.
Interestingly enough......crops are emblements....they are personal property, not real property. You typically retain the right to return and take the next harvest.
Yes i learned this when i bought a foreclosure Acreage with some nursery stock on it..
Or in Timber were you can carve out a timber deed .. We did quite well on timber deeds over the years.
Investor · Colorado Springs, CO · Member since 2020 · 15 posts · 13 votes
6y
My deal was almost lost over window screens.
A a few years ago, I was selling a townhouse. I was using the same realtor that I had used in the past, and really liked for her thoughtfulness and attention to detail. She was going out of town at the time I was set to close (had JUST went under contract, in less than 24 hours after the listing went live). So, she set me up with her partner who I didn't know much about and had never met. Little did I know, he didn't set me up much for success which led to the deal almost falling through.
First, the buyer asked for a handful of concessions. Some were trivial and some were a little more work. So, before I even responded, I went ahead and performed one or two of the easier concessions. One was painting a room and another was fixing a light fixture (replacing a glass globe that goes over the light on a ceiling fan). When my realtor sent the counteroffer, however, he listed those items as already fixed - not that I wouldagree to fix them. This was the first mistake: if I've already fixed some of what they've asked for, that gives me no room to negotiate on other items. It's not like I'm going to undo the things they asked for but I already fixed. Simply just agreeing to fixing the two items I already did might have been enough for the buyer.
So, another item the buyer asked for was window screens. The issue there was the tenant prior had removed the window screens (presumably to put in A/C window units), which weren't re-installed after the tenant vacated. The screens were placed in the garage behind some other items. Nothing wrong with the screens themselves; they obviously had been exposed to weather, but no rust/holes/etc. Just a little dirty. My agent specifically responded that I would put in NEW window screens. This one key word that was added in for no reason almost wound up being the single cause of failure. Obviously, I overlooked it during signing the counteroffer, and had no idea the pain it would cause. Call it being hasty or dumb or just plain inexperienced (I was early 20's), it would bite me later on. Granted, I was also working full-time, going to school full-time, and also working a second part-time job, and had never been through the selling side before. It was all new for me.
So, counteroffer accepted, great. I immediately went and put the screens back in, after giving them a thorough cleaning. I think there were maybe 4-5 screens total in the entire house, so not a big deal. I knocked out the remaining items on the counteroffer, then it was waiting time.
After a week or so, the agent called and said that the buyer was 'not satisfied with the window screens' after going to look at the house again. The agent then mentioned to me the clause about NEW window screens. Okay, fine whatever. I have no idea how window screens work, maybe I can just get a contractor to make new ones? I spend the next few days calling people but most are booked due to recent hailstorms, and no one wants to build/replace window screens anyways. I try to get the agent to re-negotiate the 'NEW' requirement, since the screens that I put back in were in good shape and everything else that was asked for was done to their liking. No dice.
At this point, I have roughly a week left until closing, and hiring someone to build window screens isn't looking doable. So I start doing research online, and learn that I can build my own screens. Granted, I've never done it before, but Home Depot sells kits and so I go and pick up enough to build 6-7 windows (since I figured I'd mess up the first one or two). Well, the kits were slightly off color (like a light brown vs. a medium brown window frame) but it was the only option besides a silver.
I go to work building screens after I get off work for two nights in a row during the week of closing. They results aren't the best - the screens themselves could be a little tighter, and they were slightly wobbly, but they fit well enough, and would easily stop bugs/debris from coming in. My agent informs me they're inspecting the house one more time, the night before closing, but I honestly felt good about everything since I had put into over 8 hours building these things on my own and fixed everything else with receipts, had the place professionally cleaned, and upgraded a fixture in the bathroom.
So, I get a call first thing in the morning (closing was in the afternoon) and my agent is saying they're refusing to close given the condition of the window screens. I told him exactly what I did, even buying extra materials to make extra screens to get them as good as possible. I had even left the previous screens in case they preferred those, since they fit better and the only issue was they were slightly worn, as I mentioned before. He tells me he will let them know, and that he'll call me back.
At this point I'm so annoyed after trying to get something so trivial resolved and start thinking about calling the entire thing off. I didn't need to sell, had went above and beyond with fixing everything, doing extra cleaning, and had technically built new screens as requested. About an hour later (maybe 2-3 hours till our closing time at this point), my agent calls me back and tells me the buyer is pulling the plug on the deal. I tell him 'that's fine', and that it is what it is. At this point you're thinking that I probably could have offered monetary concessions or something similar, which I probably could have, but I had no idea that was an option. I technically might have been able to hold them to the contract as technically the screens were brand new, but I just wanted it to be done and over with.
So, I'm processing all of it again in my head, thinking it'll suck to start over from square one...and then my phone rings, it's the agent. The buyer decided they would close on the house, even with the window screens as they are. My agent told me that their agent made them a cash concession to help with the deal (which again, wasn't even something I knew was possible, or I might have considered doing that myself). We then had to sign closing documents in different rooms, since the buyer was so upset about everything.
A few years went by and that agent is no longer a partner with the original agent that I liked. Lesson learned - perform due diligence, especially in everything contractual. Would never use him again. It also opened my eyes to the fact that not all real estate agents are the same, and one that you can trust to do a great job is worth their weight in gold.
Lender · US · Member since 2020 · 20 posts · 18 votes
6y
I remember a client of mine a while back told me his offer was not accepted because he wanted to replace the veggie garden in the back yard with a pool. Well long story short, the seller got wind of his master plot to rid the property of the healthy vegetables and refused to speak to the buyers agent. The seller put an end to that deal and sold the property to another person who eventually tore the entire house down and replaced it with a multi unit apartment complex. Go figure!
A seller thought we were trying to pull some sort of fast one by including an escalation clause. Because more money is bad? I think the listing agent didn't explain it well or the seller was just a conspiracy theorist. Turns out they would have made $9,000 more by accepting our offer with the clause. Oh well.
We made an above-asking offer on a property. Sellers went with a lower offer because someone else offered first, so they felt like those people should get it lol
Rental Property Investor · Ankeny, IA · Member since 2017 · 2k+ posts · 3k+ votes
6y
Not rejected, but we had a sellers agent call in a panic after we had a signed deal. A literal panic. They had “forgot” to state that seller really wanted to keep their window treatments. And by this, I mean a couple sets of curtains. I said; “ok. I do not even recall what they look like”.
Realtor · London Ontario, Canada · Member since 2020 · 14 posts · 2 votes
6y
I know it may not fit into the completely "silly category" but offering on a home where we offered firm over asking and were still rejected because they were "waiting for more offers". This home didn't get any other further offers, we walked and found another, and the home sat on the market for months. In a hot market I think it is important to set guidelines in advance with a holding offer date in most cases so you don't appear greedy.
