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Forum
-> Household Management
-> Finances
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amother
White
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 Tue, Jun 19 2018, 3:09 pm
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We have a real estate broker and he happened to get this listing on the house so if end up buying it he will be representing both us and the seller. The house went up for 740 and the broker said that it is way over priced he imagines it will sell in the range of 615-640. We told broker we want the house he said okay im putting in your bid at 615 and please give me permission to go up to 625. A few days later he called us that he is trying to negotiate with the seller what is the max we will do. We told him 650. He told us yesterday that the seller did not accept any offer but we are the current highest and there is a good chance he will accept ours soon since he has to sell his house to buy a new house out of state. Does this sound normal that it jumped from 625 to 650?
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Miri7
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Tue, Jun 19 2018, 3:12 pm
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This depends a lot on the market. It’s hard when the same agent represents the buyer and the seller. Do you have comps so you can determine what you’re willing to pay for the house? Sounds like the seller may be holding out for a while to see if they get a better offer.
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amother
Saddlebrown
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Tue, Jun 19 2018, 3:12 pm
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Sounds about right Bec his asking price is still higher
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amother
Rose
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Tue, Jun 19 2018, 3:13 pm
The agent is trying to get the deal through (because that's how he earns HIS money). It's your choice to say your max price. Once you agree that it's worthwhile for you to go higher for this house, he goes ahead and lets the seller know about it.
If you're not happy, you can back out of that offer. But you risk losing your credibility and thus your chance to buy this house. It all depends on how badly you want this specific house.
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tachles
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Tue, Jun 19 2018, 7:14 pm
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You have to know your market . But this sounds normal and does happen.
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amother
Seafoam
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Tue, Jun 19 2018, 7:52 pm
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in a multiple offer situation - reason can fly out the window.
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