AgentIndustry News

Lowball offers fail buyers

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Q: My wife and I are getting frustrated by sellers who seem like they don't really want to sell their homes -- even in this market! This scenario has happened several times: We see a place we like listed at $499,000. We write an offer at $445,000. The seller doesn't even respond. Then, six weeks later, the place is still on the market and the price is reduced to $449,000 -- if they had issued us a counteroffer at $449,000, we'd have bought it back then. We're still interested, but we're not paying the full price, so we offer $425,000 -- and they still don't even respond. We've done this on several houses, over the last four months, and ALL of those houses are still on the market! We think these sellers are just crazy. I wanted to find out about short sales or bank-owned properties, because those sellers might be more motivated, but our Realtor told us she doesn't know anything about them. Are we doing something wrong? A: Well, friend, yes -- you are. You are operating in...