[CA] My agent told me to reject an offer I got before my house was listed for sale, even though the offer was $20,000 over asking price. That buyer dropped out and now my agent is urging me to accept an offer much lower.

A week before my house was listed on the market, a very nice older guy stopped by my house a few times to ask some questions about it. He'd seen it as a "Coming Soon" listing on Zillow. He just seemed like someone who would take really good care of it and I knew I wanted him to buy it. A few days later, his agent sends an offer to my agent for $455,000 ($20,000 more than the asking price.)

My agent advised me to REJECT the offer. He said it was a low down payment offer, and 95% of the purchase had to be through an FHA loan. My agent said my house was in poor condition and the FHA wouldn't approve it. He also said it wasn't a good offer because the buyer hadn't seen the inside of my house. He also said my house wouldn't appraise for that much. He said I should put it on the market and see what the real market price is. I asked him how likely we were to get a better offer if we put it on the market, but he dodged the question.

I wanted to accept the offer, but instead I listened to my agent because I felt like he knew better than me. So we put the house on the market and it's been listed for almost 2 weeks now.

I must've had at least 40 + agents and their clients see my house already. I got a total of 13 offers, but none were as good as the first offer for $455,000.

The older guy who made that offer decided to back out. My agent called everyone who made an offer but no one could match $455k. The best offer he could get was $445,000.

Honestly, I'm pretty sad and pissed that I didn't take that first offer. We could've at least negotiated with him, but my agent said put it on the market instead. Now my agent is urging me to accept this offer of $445,000 but I don't want to. Why should I settle for $445,000 when I had an offer for $455,000 just 2 weeks ago?

I still get people asking for showings of my house (had 5 people yesterday.) I told my agent I wanted to wait for more offers, but I feel like he's pressuring me to take the offer for $445,000. I don't want to do it.

I'm seriously thinking about taking my house off the market if I can't get any better offers. I spoke briefly to the lady who made the offer for $445 (saw her briefly before a showing) and I just got a bad feeling from her. I don't really need to move urgently. I just want to move to a quieter neighborhood. I don't like my next door neighbor for a bunch of minor issues. I also want to sell my house to someone who I think will take care of it because I grew up in this house.

What should I do? I don't really want to listen to my agent's advice here because the last time I did, I ended up losing a great offer. Also my agent keeps pissing me off by saying my house is in poor condition. I did a bunch of minor repairs and most people according to feedback had a good first impression of it. What would you do in my situation?

More real estate tips at Program Realty Wix site

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s