Anyone else still dealing with delusional sellers?

 In RealEstate

As the title suggests, is anyone still dealing with delusional sellers?

Most recently I put an offer in at $370k on a house listed at $400k which is higher than comps in the area, but the seller’s agent said they are willing to negotiate and motivated to sell as its been sitting for almost 2 months and the seller already has a new home theyre moving into. Cool. So the seller comes back and had a couple requests- no new inspection as a previous potential buyer had one done, earnest money and getting pre-approved by a local lender bc they need to make sure the financing is actually there.. pretty fucking weird but whatever, let’s play. I agree to the terms, so I can see what they counter with.

Counter is at $385k. Not really interested, so I shoot back with $375k. Seller’s agent tells my agent $385k is the absolute lowest they will go otherwise they’ll lose money on the house (so much for negotiations). So, here is the interesting bit- the seller just bought this house last year for $330k, have made absolutely no improvements, AC and furnace are both of legal drinking age here in the US, have a laundry list of minor fixes that need tending to, and this is the 3rd home they’ve owned in the last 3 years as they keep buying and selling to upgrade to a larger, more expensive house.

Talk to my agent and explain that I get the home values have gone up in that area over the past year but they originally listed at $420k to begin with and this guy is absolutely duck tits bonkers if he thinks I’m going to believe he wouldn’t make money on this house at $375k which is on par with similar homes in that area.

This dude’s agent comes back and says that he’s offended I won’t budget and negotiate with him as he’s motivated to sell, but at this point he would rather keep the house and rent it than to sell to me at $375k. For reference, this house is in a suburban-ish area where there are absolutely no houses to rent. 0. Nada. Goose egg. So he’s either really onto something here with renting his house in this area, or no one is going to be interested in paying $2.5k+ in rent every month when they could buy a home instead.

I can’t wait to see how this plays out considering he just price dropped (again) to $389k.

Anyone else dealing with similar issues?

submitted by /u/TerracottaButthole
[link] [comments]

Recent Posts