Someone was hoping there is blood in the water. I got an offer on the house I have for sale, $35,000 off the price and I pay $16,000 of his closing costs. The market has slowed down, but it hasn't slowed down that much.

I can't blame him. If I get this sold and go to find my replacement, my offers will be extra aggressive, too. But for this guy, I countered $1,000 off the price and I would pay his $16,000 of closing costs. He said she would check with his bank and see if they would approve it.

No one needs a college edumacation

to make a ridiculous / embarrassing offer.

the bottom line is there are way to many mom and pop operations out there who are stymied by the court system. Some have not had rent in 15 to 20 months and they can't or don't know how to get the deadbeats out. The institutional investors are preying on them-- by bundling and discounting 40 to 50%. People say I'll take the 150K knowing the property is worth 220K.

Our side of town they have purchased about all the dead end property's out there. There buying hundreds a month or have been.

Here's the analysis in my small world. These people are rehabbing and dumping 35 to 40K into that purchase. The rent for a decent return needs to be 1950+ -- of course they put in granite counters. We keep our Formica tops and rent for 1450 all day long. You do the math. Granite ain't worth 500 more a month to someone working at Wal mart or at the hospital. Clean and in good condition. WE are in the drivers seat.

I remember when I listed my first house for sale. I paid $79,950 and listed it for $120,000. I wanted to take my equity after all costs and fee's, around $50,000, and use it to buy/trade via a 1031 exchange into a newly built triplex. My agent was out of town so she had another person in her office present me the offer. It was $80,000, the amount I paid for it 5 years prior. They were expecting me to loose $7,000.

I asked before I made the trek, one hour drive if the offer was serious. He said yes. I was pissed off.

Then when my broker returned, she told me she is going out of town again and will leave it in his hands again. I said, either you stay or find another experienced agent in your office to represent me -- or I'm going to re-rent the house. She left and the jerk called me gain with a send offer from the same buyers, now $85,950. I later found out the buyers were this agents parents.

I fired my agent then re-rented out the house. I was only 24 years old. I learned from that experience that when I sign a listing contract, I have many escape clauses. One being if my agent shows major inexperience or lapse in judgment, I can cancel my contract at any time and continue to market it with another agent, and they will get zero commission. I just can't sell the property myself to a person who saw the property during the listing period. f

I feel your pain. So then I tried to sell a house on my own. I put in the New Paper under Real Estate, "House for Sell by own, will carry mortgage with low down payment at a reasonable rate. My phone never stopped ringing from 6AM to 11PM. I had over 10 offers the first day of my open house.

Buyer hoping for a 12% discount on the price. I wasn't offended, just not interested. My agent called them back and told them he wasn't even going to take the time to write the counter offer and I'd go $1,000 off and pay their $16,000 in closing costs, take it or leave it. If they were interested let him know and he would write it.

If they really are going to check with their bank, they won't have an answer until Monday. I am not the least bit unhappy if they don't buy the house. VA loan, cheapskate buyer, I suspect they would be miserable to go through escrow with.

Sad sign of the times, Oregon. I now ask my agent to see a pre-approval letter from the buyer’s lender before I will negotiate with a low offer. Too many crazy dreamers out there who are more than willing to waste my time.

If he has to go back to his bank about a $ 35 k increase in his loan, it means his current offer is at the limit of his borrowing capacity.

Let me guess, he wants to put up a $500 earnest money deposit, have a finance contingency of 100% of the purchase price, you pay all closing costs, and an extended inspection period. The minute you accept his offer he starts asking if he can move in, or at least store a few things and paint the walls prior to closing.

We are in escrow. He came right back with bank approval, on Thanksgiving Day, which meant he was already approved for the higher amount and didn't have to ask them, just hoping to get a super deal in our market, which is a bit slower than it has been the past couple of years.

Which is exactly what I plant to do, to make insultingly low offers, hoping to get a great deal.

Local pro realtor and a national news article both said CANCELLATIONS are ta big problem right now. Offers are accepted, make the seller wait and wait, then cancel just before closing due to cold feet or found a better deal.

I really like Robyn Thompson’s system - first one with the money gets the home.

Where things might not be getting multiple offers here as they were in summer - if a house is move in ready.....it is under contract in about 30 days. So you really need to find a bargain before it is listed.