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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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WWYD - selling REA advice
My realtor told me that she has told people that I had an offer for X and turned it down.
I turned it down b/c it was seller's concession and i can't afford to do that.
Don't you think that this makes people not willing to make an offer?
I am not happy about that.
What would you do?
I almost feel like dropping her.
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Posted 9/16/08 7:31 AM  |
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Karen
Just chillin'!!
Member since 1/06 9690 total posts
Name:
Karen
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Re: WWYD - selling REA advice
I would be livid! There is NO way she should be telling potential buyers that. I'm sure she is doing it so they make a higher offer, but obviously that is not happening! In this market, she should be bringing all offers to you and let YOU decide, not trying to manipulate people into making a higher offer - and without all the facts either.
ETA: I would drop her.
Message edited 9/16/2008 8:27:21 AM.
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| Posted 9/16/08 8:27 AM |
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MommyTeffi
Yummy!!!
Member since 2/06 1827 total posts
Name:
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Re: WWYD - selling REA advice
Posted by Karen
I would be livid! There is NO way she should be telling potential buyers that. I'm sure she is doing it so they make a higher offer, but obviously that is not happening! In this market, she should be bringing all offers to you and let YOU decide, not trying to manipulate people into making a higher offer - and without all the facts either.
ETA: I would drop her.
Agree. It seems that you are not happy with her anyway.
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| Posted 9/16/08 9:19 AM |
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Ambersmom
Straight up nasty
Member since 5/05 7740 total posts
Name:
Sharon
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Re: WWYD - selling REA advice
I wouldn't be happy with that. In this market, agents are a dime a dozen. Find someone you feel comfortable with
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| Posted 9/16/08 9:21 AM |
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Re: WWYD - selling REA advice
I would be so mad. I know how hard it is to find a buyer and I don't think it is her place to be saying that.
If you don't mind, can I ask why you turned down the seller's consession?
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| Posted 9/16/08 9:41 AM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: WWYD - selling REA advice
Honestly... I would let the REA do her job and don't get involved with how she does it.
This is what you pay her for. Let her bring the offers to you. Not the stories.
My two cents. 
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| Posted 9/16/08 11:37 AM |
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LINewbie
Tigger the the Rescue!
Member since 8/08 5647 total posts
Name:
LB
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Re: WWYD - selling REA advice
What is seller's concession?
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| Posted 9/16/08 3:31 PM |
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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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Re: WWYD - selling REA advice
I had to turn it down b/c if i accepted the offer, i would be VERY negative on paying off my mortgage and home equity loan. It wouldn't cover my ownership bills!
UGH!
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| Posted 9/16/08 4:46 PM |
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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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Re: WWYD - selling REA advice
Posted by LINewbie
What is seller's concession?
I don't know the "technical stuff" but basically the seller pays the closing costs.
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| Posted 9/16/08 4:47 PM |
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riniko
LIF Toddler
Member since 3/06 486 total posts
Name:
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Re: WWYD - selling REA advice
A seller's concession is like this.
Say the seller wanted to get $400k total. And the buyer's wanted a 20k sellers concession.
Then the paperwork would be done as if the house cost $420k. The seller then would at closing write a check out to the buyer for $20k.
I don't find any harm in this for either party as long as the home appraises for $420k.
The good thing about this is seller ends up getting what they wanted, the home owner would still have money from the concession to work on the house even after the downpayment.
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| Posted 9/16/08 5:39 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: WWYD - selling REA advice
Posted by rkoenke
Posted by LINewbie
What is seller's concession?
I don't know the "technical stuff" but basically the seller pays the closing costs.
no, that's not what is it at all
the person above me explained very well- don't turn down an offer just based on that
as long as the house appraises for the amount the buyer wants (6% in the MAX in NYS) then it's really a win/win
the only time it can be tricky is if the house doesn't appraise for that amount-
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| Posted 9/16/08 8:35 PM |
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Re: WWYD - selling REA advice
Posted by Beth1210
Posted by rkoenke
Posted by LINewbie
What is seller's concession?
I don't know the "technical stuff" but basically the seller pays the closing costs.
no, that's not what is it at all
the person above me explained very well- don't turn down an offer just based on that
as long as the house appraises for the amount the buyer wants (6% in the MAX in NYS) then it's really a win/win
the only time it can be tricky is if the house doesn't appraise for that amount-
I agree..Did your REA explain how the seller's concession worked?
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| Posted 9/16/08 8:41 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: WWYD - selling REA advice
You might want to sit down with your REA and have her explain in detail what a seller's concession is and how it would affect your particular sale.
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| Posted 9/16/08 8:59 PM |
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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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Re: WWYD - selling REA advice
Yes, i knew that after the $ i paid out at closing (hence, my thinking that i paid the closing costs), it wouldn't cover my mortgage. I can't do that!
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| Posted 9/17/08 8:22 AM |
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