Quote:
Originally Posted by Craig Vernon
So, I found a home on the VLS made an offer based upon agent video walk through. Seller stated original roof on 2008 home willing to offer 10k toward replacement. I offered 5k less than price. My VLS agent calls me and says they are only going to give rebate for roof with a full price offer. I submitted a full price offer with roof being inspected within three days as contingency to make sure the home was insurable. The agent calls me and says there is another offer both cash offers btw but they were going to counter my offer with removing the contingency. I disclosed to the agent that I couldn't buy a home that I may not be able to insure she stated that because it is a cash offer and that I could. I said well I cannot have a home in another state that may not be insurable. She said so you are willing to lose this deal? I said I guess I wouldn't have a choice but have them counter and I will respond. Agent two hours later calls back and says they took the other offer. The seller never responded to my offer at full list price or countered. I have purchased ten homes in my life and I know there are 1799 more to choose from on the market but...wow. Not feeling very happy with TV listing service or agents at the moment.. Have a great evening one and all!
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Your Broker/Agent handled the transaction, EXACTLY how it should have been handled.
A Seller has no obligation to "counter" an offer. Your Offer contained a contingency that was unacceptable to the Seller, so they accepted another Offer that was acceptable to them.
Legally and ethically, your Broker/Agent did everything right and it sounds like the Seller's Broker did, too. Just because you don't like the results or someone else was more daring than you, doesn't make it wrong.
If you really wanted the home, you could have made an Offer without any contingencies and still have been prepared to increase it, if the Seller had another comparable Offer.