Dealing with an agent, Right Response? LONG - Posted by Barry (FL)
Posted by Barry (FL) on January 28, 2002 at 23:43:47:
Original Offer Was: $110k cash. After I made offer, not signed just verbal, I realized my comps were wrong. I sent her the following email over the weekend as she was not submitting til Monday anyway.
Property Info: Foreclosure
reduced to $128,900 from $132,900 comps at $133,500
As per my voicemail message, please submit the following offers for ------------, ---------, Fl. on my behalf:
Financed: $101,000 financing based on appraised value, not selling price, seller pays all closing costs.
Both offers to close in 30 days, all appliances and window treatments included. Subject to Inspection and approval of Partner.
I was not able to get my partner there this weekend, he will definitely inspect by Thursday.
Response from her Monday:
On Friday you made a cash offer of $110,000. Now you have two different prices. I’m sorry, I do not do business this way - I will have to have everything typed and signed by you. Both offers submitted via E-mail can not be submitted, they will be rejected as too low.
My response (Pending)
Thank you for this new insight. During our conversations on Friday I was unaware of your telepathic ability to know what your seller’s are thinking. As I said and apologized for in my phone message, I made a mistake. I am human. I am sure you have probably made some in the past, maybe even on this property, since it hasn’t sold in two months.
Correct me if I am wrong, but your position as listing agent is to look after the best interest of the seller, correct?
You are also, by law, required to present ANY AND ALL offers to the seller, correct?
My job as purchaser is to try to acquire said property for the least amount of money, as this is a business and I will have costs involved such as closing, marketing, holding, maintenance etc. etc. etc.
Now this property was foreclosed on, if my memory serves me in October of 2000. That means months of non performance before foreclosure and since, let’s say 8 months worth, being the conservative that I am. That means over 100k of non performance for 2/3 of a year, minimum. Now let’s say, and being human I may not be exact on this, this 100k of non performing loan keeps the seller from procuring 600K in performing loans. I, and this is only my humble opinion, not being a RE professional as yourself, would be doing your seller a service by relieving them of a non performing asset, thus enabling them to procure 6 times the amount of performing assets.
We are in a negotiation stage, by making two offers, I was allowing the seller an option on which would be more advantageous to them, either way it does not matter to me. I figure them financing the deal for me is worth another 10K plus and also allows the seller the opportunity to recoup some of their loses from this non performing asset.
I also would prefer to do business with the listing agent so that they will be fairly compensated for the hard work that they do. Again this does not matter to me.
If it is easier for you I will be more than happy to make one offer at a time. Here goes.
I Barry (FL) offer for the purchase of ----------------, ------------, Fl., legal description: ---------- SECTION – BLOCK ----- LOT ---- SUBDIVISION COMPLETION YEAR 19–
I have to be at work at 3:00pm I will be at your office at 2:00pm to sign the paperwork.
Please call me if this will be a problem.
Barry P. Markey
Should I send this email or just submit through another agent.