It always amazes me how personal things can get between buyers and sellers in a real estate transaction. I have been involved with a couple of nightmare scenarios lately and they have inspired this blog entry.
It should be fairly straight forward… there are two parties, one wants to sell and one wants to buy. A successful closing should be a shared goal between the two parties. It is a business transaction.
Unfortunately that is not always the case. Sellers get emotional and feel like the offer was too low and possibly so low that it was insulting. These feelings only get worse when the buyers submit a repair request after the home is inspected.
First let me address the low offer issue… if you are a seller and you receive a low offer, you do NOT have to take it. If after negotiating you are not satisfied with the terms you do NOT have to agree. I would rather for my seller to pass on a particular buyer than to bow to any pressure they may be feeling and accept an offer they are not happy with.
Regarding the repair request… the buyer wants the house to be in the best condition as it can. They are not selecting items found during the inspection just to upset the seller. And sellers, there is nothing that says you have to fix all or any of the items they have asked to be fixed. It is a negotiation. If one party is being way too difficult then let the deal fall apart. It is not worth your health and well-being to agree to something when you think the other side is being unreasonable. It just causes even more bad-will down the road.
I have had buyers and sellers so angry with each other that every decision is made with pay-back or vindictiveness in mind. When buyers and sellers have never met in person and are taking the negotiations personally it is easy for each party to think the other party is Satan himself and has horns growing out of his head! Over the years when I see this happening I usually suggest to the other agent that we somehow get the two parties to meet or at least talk on the phone. Every time I have tried this tactic it turns out good for everyone. The sellers realize the buyers are not intentionally trying to hurt them and the buyers realize the sellers are not bad people… just overly emotional about their home. Also… both parties can clearly see that there are no horns growing out their heads. :-)
For you agents that have emotional clients… give this a try. It really works.
For more information or assistance with any of your real estate needs you can always contact me at (919) 889-1766.