Howdy folks! I would like to run one past you and see what yall think is reasonable here.

I made an offer on a property on 10/8. This property has been on the market for about 300 days. I am taking this one through an agent. The seller is an agent as well and representing himself in this deal. The seller and my agent have communicated quite a bit before the offer was made. Once the offer was made, the seller acknowledged receiving it, so that's not an issue. After that acknowledgement, nothing. Seller simply will not give a response and it's now 10/17 (for those reading this later). There was one text from my agent sent on 10/11 asking if they would have a response soon. Seller responded and said he was crunching numbers and would get back soon. Another text was sent on 10/15 and seller did not respond.

My gut feeling is to simply pull the offer and move on. That's probably what will happen as well. I just find it kind of unethical as a member of NAR, KAR and the local association for him to simply ignore it. If he doesn't like the offer, I get it. I would think that a simple response of "I cannot accept this and I don't have a counter offer" if nothing else should happen. Some agents can't figure out why people hate REALTOR's so much. Well, when cow excrement like this happens, it's not hard to figure out why.

Anyway, just looking to see if I can get some different viewpoints than what my mindset is and see if there is another way of looking at it that I hadn't thought about. I appreciate your insight. Trying to have an open mind so far.

My guess is they don't really like your offer, but they have another interested party and they are using your offer to try to get the other party to make a better offer.

In future always put a drop dead date into every offer you make. Seller has to decide and get it done and doesn't have time to ship your offer around using it to try to get a better offer from a different buyer. I usually do not give more than three days for them to answer of the offer goes away.

Your agent should have known to do that.

What is the end date on the offer?

When we were selling my Mom's property in Virginia, we countered an offer. When we did that, he countered with a lower offer. This happened with another property she was selling as well.

If your offer was a real bargain the two agents likely saw this and decided to take it for themselves and cut you out of the deal. Happens all the time. I'll bet I've lost at least 20 places from agents doing this. If they are worried about being caught they just use a friend or relative to do it. Making 30K or more on an easy deal is too much for many to pass up.

Since the seller is an agent and not responding I would assume he is keeping the place on market to get more contacts.

Easy to say sorry this place won't go for that, but I know of another one and will show you right now.

Make a new offer and have a due date on it. I never give them too long. The more time someone has to consider all the options the more hazy the deal becomes.

I don't think they want to sell.

But if it's on the market, actively listed, anything they do to it to improve is tax deductible, isn't it? In the year the repair/improvement occurs? I don't know, I thought I heard that. I haven't sold a rental property in decades.

Interesting thought WMH. Maybe that is their plan.

Would be easier to just rent the place out to a friend for a dollar because of the condition. Work on it while said friend is renting and then friend moves out while when you are done.

Thanks all for the responses. To address a few of the comments, the selling agent is the seller representing himself. I am 100% positive my agent is not working with the selling agent as he is a close friend of mine. He does not have any rentals, nor is he interested in getting started in that business. He is working on my behalf only and has never met the seller.

I did check with a few other folks that would have some knowledge of the seller. Without going into any detail, the basic consensus was that the seller is not exactly of high moral character. Heard a few other things and some more detail, but I won't bore yall with it. So, that kind of explained everything in my eyes. I have instructed my agent to withdraw the offer as I don't think we will get a response. The next deal is always around the corner!

Robin,

Yes, pro realtors will tell you open houses don't get homes sold. It's a way to get referrals.

Doogie,

First, ANY offer should include a deadline.

I would cancel my previous offer and submit a slightly lower offer, with a deadline.

Ideas:

-Seller has a problem such as a mortgage higher than the offered price. Or he was hoping to get more.

-Seller is using your offer to shop around "Hey Joe, I've got an offer for $50k. Will you give me more?"

-Some people cannot make a decision on anything

-Wife said "WHAT!?!"

You are a pro. NEVER wait around for a deal to be accepted. I don't know how but SOMEHOW sellers sense desperation. Go make 5 other offers and be in the hunt.

Robin,

Yes, pro realtors will tell you open houses don't get homes sold. It's a way to get referrals.

Doogie,

First, ANY offer should include a deadline.

I would cancel my previous offer and submit a slightly lower offer, with a deadline.

Ideas:

-Seller has a problem such as a mortgage higher than the offered price. Or he was hoping to get more.

-Seller is using your offer to shop around "Hey Joe, I've got an offer for $50k. Will you give me more?"

-Some people cannot make a decision on anything

-Wife said "WHAT!?!"

You are a pro. NEVER wait around for a deal to be accepted. I don't know how but SOMEHOW sellers sense desperation. Go make 5 other offers and be in the hunt.

There is a house not far from a lake and a state park that I would be an excellent MTR/STR property. It is expensive though.

Placed an offer on it, it was accepted but the list agent wanted to hold the hand money. Now I might be strange, but don't go around memorizing house numbers so when I dropped the check off the receptionist didn't accept my check because I didn't have the house number on it. There are only about a doze houses on this street and this was the only one that was for sale.

On cash deals that are faster I have had my agent just hold onto the earnest check.

Makes it easier for them at closing because they just either hand me the check back or give it to the closing company. They claim it is a pain to go thru all the stuff the main office wants done with the check.

Yup--give them a drop dead date and stick to it. I have done that, and had a call 2 months later asking if I would still consider offering that amount as now they are willing to accept it.