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re: Is the Real Estate ploy "we have a cash offer" a bold face lie to make you offer more?
Posted on 1/21/20 at 2:28 pm to herbstreit4
Posted on 1/21/20 at 2:28 pm to herbstreit4
Thankfully a good friend of mine is an agent and has done me well. Have come in below appraisal on every house I've bought along with closing costs being covered. I lucked into my current house and plan to be there for a long time now. There are good agents out there that take pride in what they do, but I know there are some schemers. I'd rather them handle all the bullshite that comes with buying/selling. I don't have time for that type of stupid shite.
0
Posted on 1/21/20 at 2:30 pm to chryso
quote:
What does cash mean in this situation anyway? Doesn't the seller get cash from the bank? WTH would the seller care if the buyer has cash on hand or if it was borrowed?
Because a cash buyer can forego the appraisal and inspection if they so choose.
A bank will renege on the deal if those two things (among others) come back negatively.
A cash buy might not even do an inspection. A cash buyer can do all the things a bank requires and still go through with the deal regardless. A financed buyer will lose their financing (for that property) if the inspection and/or appraisal doesn't check out.
Posted on 1/21/20 at 2:30 pm to tbabino
quote:
cash offer
Do people not just write a check for the value of the house?? Not sure why you're so perplexed by this...
ETA: oh god, I am an idiot. Forgot you can just inherit it too.
This post was edited on 1/21/20 at 2:30 pm
Posted on 1/21/20 at 2:31 pm to Displaced
quote:
In that case, I'd be pissed that the buyer's agent wasn't working in your best interest over an extra (I'm assuming) $50-200 in their own pocket.
I'd negative review blast them on every outlet available.
I trust they weren't the ones that came up with the supposed offer. I have no idea that there wasn't actually another offer. I just chose to not be bullied by it. Our agent was fine with that decision and very helpful with the several houses we liked, but thanks for yet another attempt at trying to "gotcha" me.
It's getting kinda sad at this point.
Posted on 1/21/20 at 2:33 pm to LNCHBOX
quote:
but thanks for yet another attempt at trying to "gotcha" me.
It's getting kinda sad at this point.
Posted on 1/21/20 at 2:34 pm to Displaced
Is this where you pretend you've never tried to take a reply I've made and make it look like I'm not sure of what I'm doing?
Posted on 1/21/20 at 2:36 pm to LNCHBOX
You and I have had our arguments in the past (and nothing that I can remember recently), but you are looking for something that simply isn't there itt.
Posted on 1/21/20 at 2:37 pm to Displaced
quote:
but you are looking for something that simply isn't there itt.
I mean, it's right here where you say I should be blasting my agent for not having my best interest based on one sentence.
Posted on 1/21/20 at 2:43 pm to LNCHBOX
I really wasn't...
In a thread about shady realtors, you post:
I asked a a direct question which you answered.
My reply was simply what my reaction would be to a shady buyers agent that was trying to bump my offer to improve their commission. It had nothing to do with you other than you providing the scenario...
You must need a nap or something.
In a thread about shady realtors, you post:
quote:
When we put the offer on our current house, amazingly someone else supposedly was submitting their best offer that day. The realtor suggested we bump our offer,
I asked a a direct question which you answered.
My reply was simply what my reaction would be to a shady buyers agent that was trying to bump my offer to improve their commission. It had nothing to do with you other than you providing the scenario...
You must need a nap or something.
Posted on 1/21/20 at 2:48 pm to tbabino
all offers are "cash to seller".
in 99% of cases though the cash is coming from a bank
it makes no difference whatsoever to the seller
in 99% of cases though the cash is coming from a bank
it makes no difference whatsoever to the seller
Posted on 1/21/20 at 2:50 pm to sacrathetic
quote:
Be willing to walk away.
This is the single most powerful tool the buyer has in their arsenal.
If you are truly willing to walk away if the deal doesn't line up, then you win. Every time.
Just went through this whole song and dance and will be closing on a new home at the end of the month. My wife was emotionally invested and she was damn near losing her mind.
Posted on 1/21/20 at 2:58 pm to CptRusty
quote:
My wife was emotionally invested
This is why I try to involve my wife as little as possible when negotiating for houses or cars.....
Posted on 1/21/20 at 2:58 pm to Chad504boy
quote:
tell them your pre-approved lender pays in cash too
Exactly. It's not like the lender is paying in installments.
Posted on 1/21/20 at 3:00 pm to Beauw
quote:
This is why I try to involve my wife as little as possible when negotiating for houses or cars.....
wise man.
The last car I bought she had to leave the room, then texted me from outside to "stop being mean to the salesperson"
Posted on 1/21/20 at 3:02 pm to Powerman
quote:
Most people are smart enough to get pre approved
Okay? The pre approval is for you, not the property you are buying.
If the loan company wants an appraisal and finds the property to be worth less the deal can fall through there
Posted on 1/21/20 at 3:05 pm to CptRusty
Man, I don't mean to sound sexist but it is like you said, they decide with emotion versus logic.
Posted on 1/21/20 at 3:13 pm to cgrand
quote:
all offers are "cash to seller".
in 99% of cases though the cash is coming from a bank
it makes no difference whatsoever to the seller
That's not correct. If the seller has made an offer on another house and the sale is "contingent" on the sale of their current home, then you can bet your last dollar it matters. A cash offer is faster...usually. The seller of the future home has a time limit placed upon the contingent contract. They're not holding on forever.
Posted on 1/21/20 at 3:17 pm to tbabino
quote:
Is the Real Estate ploy "we have a cash offer" a bold face lie to make you offer more?
I sold my house to a full price "cash offer"
Was pretty impressive and depressing to watch a dude cut a check for the most expensive thing I've ever owned.
Posted on 1/21/20 at 3:27 pm to tbabino
quote:
I say yes. They can say this, and offer ZERO proof. They can tell you ANYTHING about so-said "other offers" and not have to prove squat to you in print. Snakes.
Depends on the state. I just bought properties in Colorado and the seller had to produce the competing offer to meet the terms of our escalation clause. In Florida they do not have to do that.
This post was edited on 1/21/20 at 3:32 pm
Posted on 1/21/20 at 3:54 pm to tbabino
could be
it's a gamble if the agent is lying
it's a gamble if the agent is lying
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