Saturday, January 27, 2007

Lying listing agent, oh my! (Y1/M9/D27)

Okay, so last week I got a call from my real estate agent ("Lisa") saying that the seller's got a full price offer so there was no need to submit our revised offer. I was disappointed but, since I would never have paid their list price, figured it just wasn't meant to be. We set up a few appointments to look at new listings and I started to forget about the house.

THEN, Lisa calls again yesterday saying that she just spoke to the seller's agent ("Magda"). Apparently, the full-price deal was falling through and Magda wanted to know if I still wanted to make an offer. Lisa also mentioned that Magda kept asking: "What did your client say when she learned they got full price? Has she changed her mind about the home value?" She asked so many times that Lisa started to suspect the whole thing was just a ruse. That is, Magda never had a full price offer at all she just made it up as a negotiation tactic. How insane is that? I mean, Madga is definitely a bit looney tunes, but that is just out-right stupid to jeopardize a sale like that. But assuming Magda really had an offer, what really went wrong? Are there major repairs? Did the buyers simply offer full price to get the house off of the market so that they could negotiate with a captive audience? Did they just get buyer's remorse?

I haven't decided whether to submit my revised offer though. We will go out and see a few new listings tomorrow and we should know more then. No matter what, I don't think we should submit our offer until Magda confirms that house is no longer in escrow (if it ever was). I certainly don't want to get dragged into a bidding war or be used by Magda to scare the current buyers into paying more than the house is worth.

Can you believe the drama? How long could this possibly drag out? *sigh*


Anonymous said...

Been reading for a while and I just wanted to say I applaud your decision to wait. It's not worth getting excited about any property until it's yours. Real estate agents count on you thinking that there's only one place you can be happy. All the best on your quest.

Kate said...

Hi Erin:

Thanks for reading! As you will soon learn (See DAY: I HATE PEOPLE) the saga continues.

This house is rapidly becoming the one place I CANNOT be happy. :-)

I am going to go and torture some of my coworkers now to vent my anger. Seriously, one of them actually gave me permission (strange lot, them coworkers!).