I’m representing a wonderful client with a nice home in College Park Woods. One of the nice things about the home is that there is no wolf at the door. The Seller isn’t in a bind and there is no bank or “third party approval” that needs to get involved with the sale of the home.  If a good offer comes in, the Seller can say “Yes” and move forward to settlement pretty quickly.

It’s probably a sign of the times that no matter what condition the home is in (this one is in excellent condition) or the location of the home (excellent location, too) or the price (very reasonable), Buyers insist on offering way, way below the list price.  It would be insulting if it weren’t a little sad, too.

When Is A House A Home?

If someone is looking for a home to live in it makes sense to try and get the best terms they can get.  A fair price, possibly some help with closing costs are both good. Yet, at some point, they have to ask themselves, “Do I see making this house my home?”.

You see, this house is actually the Sellers’ home, for now.  They have lived in it, made improvements to it, gotten to know the neighbors and paid the mortgage every month. So when Buyers come and “low ball” the price and then ask for lots of additional cash for closing costs on top of the low price, it kinda hurts.

Just Saying No!

Even though this particular house has been on the market only two months, it recently received two offers. Excuse me — one Letter of Intent and one offer. Both were so low that the Seller and I, for that matter, were stunned.  The Seller also said, “NO!”  You see, not everyone is ready to sell their house at any price just to sell it.  Not everyone is in a short sale or foreclosure situation.

Sure. It’s OK to offer lower than list price.  It’s OK to ask for closing help.  It’s OK to ask for inspections and a settlement date you like.  It’s also OK for the Seller to say “No” if you’re being ridiculous. The idea of negotiating terms that are beneficial to the Buyer is to leave room for the Seller to meet the Buyer at some middle ground. If the gap between the list price and the offered price is too wide, there is really no place for the Seller to go.

So they stay put.