My Realtor Interviews and Fear of Selling Our Home

[WinniWoman]

New builds can be very exciting. We loved watching the progression on our house (40 years ago). We also watched as our daughter's house went up.

Good luck to you on your move. I get attached to "things." It would really be awful for us to leave this house, but Rick keeps saying that if our other two kids move south of Denver, the way our other kids did (1 to 1.5 hours from our house), he will want to move. No reason to have all of the kids far away, when the two that live south don't want to drive the distance to visit here (except maybe 3 times/yr). We are the ones forced to drive down there. Traffic in Denver is HORRIBLE. Yes, I yelled that.

I so understand this. Our son will be just 25 miles away and he also work just a few miles from this development. I am sure we will hardly see him, but I love the fact he is nearby.

 

[WinniWoman]

Good idea but Ques andtion would be did other developer build ranches with basement as that is what they want.

Right. First off, there are just so many ranches. I do know that the newer residents do have them- those were the people we spoke with and went into their homes to see everything. Not sure about the older ones.

I can tell you last year only one house went up for sale and it was not a ranch and this year the same thing- just 1 and not a ranch.

 

[VacationForever]

On the contrary, the attorney said it is very expensive- for us- and not as simple as that- could involve 3- yes 3 lawyers/. There is another paragraph in the contract that talks about each party getting a lawyer and she said that should be enough.

She absolutely hates arbitration in these agreements. But I think it could be something we have to live with

You will find lawyers on both sides of the aisle, some love it and some don't. For the lawyers who hate arbitratioon, it is due to their not being able to make tons of money through class action lawsuit. Legal fees of the plaintiff is typically also paid by the business owner in arbitration. Business owners use arbitration to limit their loss due to avoidance of class action lawsuit. Also, in arbitration there is no jury because jurors can be irrational and swayed by emotions. In arbitration, the business owner has to pay for court fees, judge and typically legal fees for both sides.

 

[WinniWoman]

FWIW here is an "off the wall" thought. What do you think about backing away from the purchase; proceeding with the sale of your house in an orderly way to maximize what you get for it; and waiting for one of the existing houses in the development you are looking at to come on the market for sale? That way you will know exactly what you are buying; its condition; the price; and only have to struggle with a simple purchase contract...

George

Not so off the wall. We originally planned to put our home up for sale and then move into a rental and then look for a house after my husband retired- until we saw this.

Resales are few and far between there. Of course, who knows what will happen in the future but I know my husband (and I) are very anxious to move. Physically and mentally I think this is a good time.

The realtor called me back and I explained what the attorney said. She agreed that the home warranty clause made absolutely no sense. She said to wait to see what the builder does. I stressed he or his representative could call our attorney for clarification.

She just sent me an email and changed the form we signed for the upgrades because she (or maybe the builder or whoever) noticed the old builder's company's name was on it in fine print on the bottom. We didn't catch that either when we were there Saturday.

But of course, this is what happens when you do not have an attorney present for signing stuff and depend on realtors- who are- just that- realtors.

 

[wackymother]

What did the realtor say about listing the house that you're reviewing the contract for?

 

[WinniWoman]

What did the realtor say about listing the house that you're reviewing the contract for?

I didn't mention it to her. On Tuesday and Wed. she did keep calling me and asking about the attorney and I kept telling her the attorney reviewed the contract on Monday and it looked fine but she wanted to just discuss a couple of things with me on Wed. as she has an all day class on Tuesday.

Then she said she had to list the last phase lots in the MLS and now other realtors are calling her about it. I told her not to sell our lot! I saw it advertised on Tuesday and now again today at the higher price.

But I mean- that is really cruel to list the actual lot, model and address of the house we are trying to buy. She could have listed the lot next to ours or one of the others.

Meanwhile, I have heard nothing back as of now as to what the builder is going to do with our contract. The realtor is unusually quiet now- no calls or emails.

Here I am selling stuff- including furniture- from our home- getting rid of things I know will not fit in that house. Thought this would pretty much be a done deal.

This is what is wrong with not using attorneys in states. Builders know that other people will just sign the thing without one and so they don't care. But I would think he would at least say whether or not he will make some changes and sign or not. I don't get it.

And-what the hell am I doing?

 

[Glynda]

Yes. It is just we were so happy these past 2 weeks and you just can't find anything like this in NH and in that area. It can not be been more perfect. I have been looking for 2+ years and nothing.

Plus- we are already so deep into it, even picking out the house color and how many outlets and all that. Speaking with some of the neighbors. Really- I was so excited! The past few weeks we just put so much into this- driving up there- so tiring but worth it we thought. On the phone every day- the emails back and forth with the realtor. Exhausting.

My heart will break if it doesn't work out. I know it. I am getting very emotional.

Yes, that's almost all emotion. That it is in your preferred location and price range is factual. The becoming attached because you chose colors outlets and other options can just be considered practice for whatever you do end up with, even if it is this one. The emails, calls, talking to neighbors and drive up and back occurred over what I perceive to be a period of merely two weeks! Don't let those drive you to make a bad decision. The agent needs to see a different side of you. Not the emotional one who keeps telling her how excited you are and much you want this house. If they come back to you, with no significant changes to the contract, put your foot down and make it clear as to what it will take or put both feet down walking away! The consequences of accepting their terms as they are now could be devastating.

 

[bogey21]

When I was in the business world I was pretty hard nosed and adamant as to what I would or would not accept. But in my personal life I was always more flexible, less confrontational and relied pretty much on my power of persuasion. Both ways were successful for me. I think the difference was that time was on my side with my personal transactions. I had the attitude if something didn't work out, I'd just move on to Plan B or maybe Plan C. In the business world everything seemed to be so time sensitive...

George

 

[silentg]

How is the sale of your house going? Any offers?

 

[WinniWoman]

How is the sale of your house going? Any offers?

Well, as of tomorrow afternoon, it will be just a week since it was first listed. The people who came on Sunday liked the house but felt there was not enough storage- aka a basement.

The same realtor come back on Tuesday and I assume it was with the same people. Heard nothing after that.

The people today were not interested. They wanted an open concept. They did like the kitchen. They and the realtor- not clear if it was one or the other or both- felt it was overpriced.

No other showings scheduled as of tonight.

 

[Panina]

Well, as of tomorrow afternoon, it will be just a week since it was first listed. The people who came on Sunday liked the house but felt there was not enough storage- aka a basement.

The same realtor come back on Tuesday and I assume it was with the same people. Heard nothing after that.

The people today were not interested. They wanted an open concept. They did like the kitchen. They and the realtor- not clear if it was one or the other or both- felt it was overpriced.

No other showings scheduled as of tonight.

After another week or two ask your realtor to check if any other houses in your area were put in deposit/contract. If yes, see what was different then your home, Price? Size? Layout? etc. Based on what is happening, it might be time to price it differently.

Also ask your agent to ask the other agents showing your home if they feel the price is right. If agents think it is overpriced they will not bring their clients. You want to find out sooner then later if your house is priced right.

 

[WinniWoman]

After another week or two ask your realtor to check if any other houses in your area were put in deposit/contract. If yes, see what was different then your home, Price? Size? Layout? etc. Based on what is happening, it might be time to price it differently.

Also ask your agent to ask the other agents showing your home if they feel the price is right. If agents think it is overpriced they will not bring their clients. You want to find out sooner then later if your house is priced right.

I felt from the beginning that the house should be listed closer to $300,000 and then leaving room for negotiation.

Our realtor wanted to list it at $339,000. I thought she was nuts and had her go $319,000 but even feel that is too high.

I’m no expert but I watch the listings all the time. Aren’t the realtors supposed to be the experts? SMH...We have a lot of competition around with newer more spacious feeling homes.

The market is weird here as it is. The town assessor has the house at $266,000, but of course does not know everything about our house. And we paid $208,000 for it 31 years ago. And tons of money and upgrades. Well
Maintained- our whole lives dedicated to working on it. How pathetic is that?

Sad because this house and land somewhere else would be worth so much more. But it’s not located somewhere else it’s located here in the Twilight Zone.

I use the app. Showing Time and the agents give feedback on their showings. This last one said price is too high- not clear if it was her or her client saying that- maybe both.

 

[bluehende]

I felt from the beginning that the house should be listed closer to $300,000 and then leaving room for negotiation.

Our realtor wanted to list it at $339,000. I thought she was nuts and had her go $319,000 but even feel that is too high.

I’m no expert but I watch the listings all the time. Aren’t the realtors supposed to be the experts? SMH...We have a lot of competition around with newer more spacious feeling homes.

The market is weird here as it is. The town assessor has the house at $266,000, but of course does not know everything about our house. And we paid $208,000 for it 31 years ago. And tons of money and upgrades. Well
Maintained- our whole lives dedicated to working on it. How pathetic is that?

Sad because this house and land somewhere else would be worth so much more. But it’s not located somewhere else it’s located here in the Twilight Zone.

I use the app. Showing Time and the agents give feedback on their showings. This last one said price is too high- not clear if it was her or her client saying that- maybe both.

One thing on that feedback. Our realtor told us that was pretty much standard to put price too high for negotiations later. She actually saw that feedback as a good sign. Of course if your house is actually over priced YMMV

 

[Panina]

One thing on that feedback. Our realtor told us that was pretty much standard to put price too high for negotiations later. She actually saw that feedback as a good sign. Of course if your house is actually over priced YMMV

I sold real estate for years. Keeping a home priced too high keeps realtors and buyers away. Keeping it priced too high too long makes it stale and gets lower offers then if priced right. If priced right, you get lots of traffic. This is what I experienced.

 

[bluehende]

I sold real estate for years. Keeping a home priced too high keeps realtors and buyers away. Keeping it priced too high too long makes it stale and gets lower offers then if priced right. If priced right, you get lots of traffic. This is what I experienced.

I tried to make the distinction between an overpriced house and a feedback form that has that as a check off. In this area it was a common thing to check that and then make an offer. We actually had two contracts on the house at near asking that both had checked that box. The house was actually priced very well and sold twice with multiple offers each time it was listed.

 

[geist1223]

One thing on that feedback. Our realtor told us that was pretty much standard to put price too high for negotiations later. She actually saw that feedback as a good sign. Of course if your house is actually over priced YMMV

And our realtor said to be careful not to list as too high. It will turn off other realtors and buyers and they seldom come back when you later reduce the price.

 

[VacationForever]

When we sold our last home, it was the nicest home in the entire (large) development. The upgrades by the developer cost more than the house itself. In addition we put in another $200K to build an indoor pool and solar system. We knew we were going to lose money as the next most expensive home sold in recent years was 20% less than what we were listing our home for. We had 5 offers within a week but all coming in 5% to 10% below our asking price. We accepted the all cash buyer and closed in 10 days. We were not over pricing our home but it was a case where it would be difficult for banks to approve a loan on our home when comps were run against other sold homes in our neighborhood. We lost money and it hurt but we did not want to continue to keep two homes. Moreover, with the sale, I was able to help my son buy his home and invest the rest, which returned more than what we lost in the sale.

My point is that pricing a home higher may not mean that it won't get traffic and offers. It is all about desirability. If it is deemed desirable by potential buyers, the offers will come in.

 

[bluehende]

And our realtor said to be careful not to list as too high. It will turn off other realtors and buyers and they seldom come back when you later reduce the price.

I will try to clarify one more time. I am not talking about an actual over priced home. We are talking about a form that has a question. Underpriced, fairly priced, or overpriced. How many people would start a negotiation stating it is fairly priced especially under the guidance of someone that negotiates as a living. Our realtor would give us the feedback and the ones we got that had fairly priced she would laugh and say we will not get an offer. She was right.

 

[WinniWoman]

Well- today has been unbelievably busy and I am happy to report that the builder did make the change about the refund of upgrades in the event he does not meet his obligation to the agreement, as well as a minor wording change our attorney recommended.

As expected, he left in the arbitration paragraphs. Our attorney did miss something in terms of wording but she does not seem concerned about it. At that point I told her we are signing and she was ok with it. She knows how badly we want this deal.

The realtor is going to point out about this home warranty paragraph that makes no sense as per our attorney that the builder claims he couldn't find- but we don't sign that document until closing anyway.

So we signed the agreement once again electronically and as soon and the builder signs it our attorney will start the title search early- since this property changed hands recently. So if any issues come up there will be plenty of time for the builders to resolve it before closing. Smart.

I essentially was working like a paralegal today. Constant emails and reviewing documents again. Pointing out the changes via email to the attorney! So different than in NY where the 2 attorney's handle everything. Here- I was the initiator and the person doing everything- along with the realtor- I must admit- she works very hard. But crazy town! The attorney is like- well- which one of these issues do you want to raise? What? In NY- all of them would be raised! LOL!

So the roller coaster is in high gear again and I am nervous and excited at the same time! Our current home is being shown tonight and also on Sunday evening. (don't these people eat dinner?)

And.....we actually got an offer on our home today- BUT- it is contingent on the sale of their home which isn't even on the market yet. Ummm.....no. Sorry. Too bad- because other than that- the offer would have been good.

So- that is it! Back on track and feeling good again!

PS In my last email to the realtor, I signed my name and what will be our new address underneath! LOL!

 

[Panina]

Well- today has been unbelievably busy and I am happy to report that the builder did make the change about the refund of upgrades in the event he does not meet his obligation to the agreement, as well as a minor wording change our attorney recommended.

As expected, he left in the arbitration paragraphs. Our attorney did miss something in terms of wording but she does not seem concerned about it. At that point I told her we are signing and she was ok with it. She knows how badly we want this deal.

The realtor is going to point out about this home warranty paragraph that makes no sense as per our attorney that the builder claims he couldn't find- but we don't sign that document until closing anyway.

So we signed the agreement once again electronically and as soon and the builder signs it our attorney will start the title search early- since this property changed hands recently. So if any issues come up there will be plenty of time for the builders to resolve it before closing. Smart.

I essentially was working like a paralegal today. Constant emails and reviewing documents again. Pointing out the changes via email to the attorney! So different than in NY where the 2 attorney's handle everything. Here- I was the initiator and the person doing everything- along with the realtor- I must admit- she works very hard. But crazy town! The attorney is like- well- which one of these issues do you want to raise? What? In NY- all of them would be raised! LOL!

So the roller coaster is in high gear again and I am nervous and excited at the same time! Our current home is being shown tonight and also on Sunday evening. (don't these people eat dinner?)

And.....we actually got an offer on our home today- BUT- it is contingent on the sale of their home which isn't even on the market yet. Ummm.....no. Sorry. Too bad- because other than that- the offer would have been good.

So- that is it! Back on track and feeling good again!

PS In my last email to the realtor, I signed my name and what will be our new address underneath! LOL!

Sounds all good, your house will sell soon.

 

[TravelTime]

If you got an offer in week 1, then your home is probably fairly priced. But now the issue is that your home could become stale if it stays on the market too long. We were selling land about 3 years ago. It was overpriced and got an offer in quickly. But they backed out after 30 days and we never got another offer. We have since lowered the price and may put it on auction for half of what the first offer was for. We probably overpriced and ruined our chances of getting offers. Now 3 years later, we need to auction it off at a loss.

 

[WinniWoman]

If you got an offer in week 1, then your home is probably fairly priced. But now the issue is that your home could become stale if it stays on the market too long. We were selling land about 3 years ago. It was overpriced and got an offer in quickly. But they backed out after 30 days and we never got another offer. We have since lowered the price and may put it on auction for half of what the first offer was for. We probably overpriced and ruined our chances of getting offers. Now 3 years later, we need to auction it off at a loss.

That is such a shame. We owned a land parcel once and we were forced to lower the price on it because we were in a time crunch to close on our current home.

I am keeping a close eye on every one of these showings and what transpires, as well as new listings that appear.

 

[VacationForever]

So happy for you. Do you remember I sent you pictures of a unit that was sold a year ago a floor below ours and you said you liked it. I said if it becomes available I would let you know in the event that you want to move here? That home is just listed. The owners bought another single family home because they have 3 dogs and we only allow max of 2 dogs totalling not more than 70 lbs. That is a gorgeous home. If there is anyone out there thinking of simplifying retirement to a single level condo and in a building without a step up/down into a home, holler! We have sun 364 days a year and we live in a resort community. We do have high HOA but it is worth every dime.

 

[WinniWoman]

So happy for you. Do you remember I sent you pictures of a unit that was sold a year ago a floor below ours and you said you liked it. I said if it becomes available I would let you know in the event that you want to move here? That home is just listed. The owners bought another single family home because they have 3 dogs and we only allow max of 2 dogs totalling not more than 70 lbs. That is a gorgeous home. If there is anyone out there thinking of simplifying retirement to a single level condo and in a building without a step up/down into a home, holler! We have sun 364 days a year and we live in a resort community. We do have high HOA but it is worth every dime.

Wow! Isn’t that something!? If this didn’t come up right now for us, it is possible we would have been seriously considering that unit! It is gorgeous, as is the community you live in!

Funny how things happen!

 

[TravelTime]

So happy for you. Do you remember I sent you pictures of a unit that was sold a year ago a floor below ours and you said you liked it. I said if it becomes available I would let you know in the event that you want to move here? That home is just listed. The owners bought another single family home because they have 3 dogs and we only allow max of 2 dogs totalling not more than 70 lbs. That is a gorgeous home. If there is anyone out there thinking of simplifying retirement to a single level condo and in a building without a step up/down into a home, holler! We have sun 364 days a year and we live in a resort community. We do have high HOA but it is worth every dime.

Can you send me the listing? I might be interested in the future when we downsize again.