Bye Bye Mrs. Greedy Seller - Hello Mr. Motivated Seller! Last week, I had some great clients visiting Southern Oregon, looking to buy a home for future retirement. Very reasonable folks with reasonable expectations. We located just the right property that fit their criteria and they made a generous offer.
Unfortunately, Mrs. Seller got a bit greedy and countered our offer. Mind you, this home has been on and off the market since 2006 with no previous offers. Our offer was higher than the average price per square foot for similar homes in Grants Pass. Naturally, my buyers were a bit taken back by the counter offer. But, instead of being offended, they went on the offense.
There appeared to be some deferred maintenance issues with this particular home. Since Oregon doesn't have any State mandated requirement for Sellers to take care of pest and dry-rot issues, my Buyers wanted to know what they would be jumping into before they dealt with the Seller's Counter Offer. We decided to have a pest and dry-rot inspection which proved to be a wise decision. The inspection revealed some major deferred maintenance items which could have amounted to more than $20K in repairs.
Knowing that the Seller wasn't willing to budge on the price, my Buyers decided to keep looking. They identified another very beautiful home in Grants Pass that met their criteria. Once again, they made a generous offer. This time, we got a very motivated Seller who accepted our offer. Mr. Motivated Seller is already taking care of some minor deferred maintenance items that require attention. Now, that is what I call being motivated!
If Seller #1 had accepted our offer, my Buyer would have likely proceeded with the sale. Instead, Seller #1 got a bit greedy and lost a very qualified Buyer to Seller #2. Bye Bye Mrs. Greedy Seller - Hello Mr. Motivated Seller!
