In any type of real estate market, there are dozens of reasons why a seller might counter at full price, and let's not discount stubbornness as a likely reason. When you receive a counter offer from the seller, the message that counter is conveying is one of negotiation. It doesn't mean "go away, you knucklehead." It means the seller is open to discussing particular aspects of the purchase offer, including price.
Realize that sellers are not required to respond to a purchase offer for less than full price. There's no reason to issue a counter offer at list price, unless a seller was willing to negotiate, because a seller can simply ignore your offer for less. Sellers don't even have to formally reject it. Ignoring, rejecting or countering at full price all accomplish the same thing with one small difference. Where there's a counter, there is life in the negotiations. So if sellers go through the trouble to issue counter offers, even full-price counters, smart buyers will keep the conversation going . . . read more about full-price counter offers.
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Most short sale banks insist that all parties sign an arm's-length affidavit prior to issuing short sale approval. I recently received a arm's-length affidavit for a short sale and sent it to the buyer's agent for forwarding. The agent's buyers were on vacation and unreachable. I suggested he send it via FedX but the agent decided to wait until the buyers returned from their holiday. As a result of the delay, Wells Fargo canceled the file . . . read more about Arm's-Length Affidavits on short sales.
More Articles by Elizabeth Weintraub: ©Big Stock Photo Technorati tag: arms length Some agents, whether novice or veteran, can find themselves inadvertently turning into white knight agents. White knight agents often act on behalf of their clients without authority. They get in the way of successful closings and, instead of helping to guide, they become obstacles and roadblocks . . . read more about White Knight Agents.
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It's not that uncommon to buy a home in which someone has died. Occurrences of death in a house are not limited to older homes or probate sales. People croak in new homes, too, because few of us really know the exact moment our time on earth will end. However, for some home buyers, a death inside the house is an absolute deal killer.
In general, Americans are not very comfortable with the idea of death. Few of us want to view our own mortality. We grieve for our departed loved ones in private, but I wish we were felt it was more acceptable to embrace the fact publicly.
My neighbor is a Sikh. When her husband died in a freak accident, hundreds of people from her temple came to her home to mourn with her, loudly and openly. Women dressed in white lined the walls of her living room and sobbed in unison. I joined them. It had a remarkable cleansing and healing effect.
But I do hope my neighbor doesn't decide to sell. Some home buyers are very squeamish . . . read more about Death In the House.
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Did You Hire a White Knight Agent?
Has There Been a Death in the House You Are Buying?
