I got online last night to peruse the photos of the house we bid on. And I noticed that in the last week, they have dropped the price $20,000. It is now listed $100 below what we bid. Umm.
We got a call from our real estate agent today: the bank is counter-bidding three ways. So there are three offers on the house we bid on, and the bank is telling all of us to re-bid, keep our old bid, or cancel our original offer. I thought this was supposed to be a buyers market.
Tim and our agent had some choice words for the bank and their agent. Although I agree at heart, I like the house a lot and still want it, so we will not be sending them the response that immediately came to mind. I am also refusing to let Tim re-bid; he would like to drop our offer $100 to meet the current asking price. Clearly the offering agent has pride issues, and would likely not be amused by that counter offer.
Maybe, maybe, we will know whether we have the house next week.
**
So I spoke with our realtor yesterday, and he explained a little more about what he thinks is going on. He also mentioned that this whole process is slightly unethical, and I think he'd be pleased as punch to tell the agent to shove off.
But, the scoop. There is a realtor selling the property, and he is advising the bank on what to do and how to proceed. Apparently he thought he was in the money when he got 3 bids last week, and decided to drop the price $20K to "drum up business". This guy has my vote for not the smartest kid in pre-school. Dude. You have 3 offers on a house that has been in foreclosure for months. Months! And so you drop the price to below one of the bids you just got? So you can drum up business? Whuh?
However, after looking at other houses online today, I do rather like this damn house, and so we are still in the running for it. Mostly, it is the location. And the fact that it has a really nice view. And a pool. And it's big. And it's pretty. And it's newish. I want that house! Just give me the house! Gah.
4 comments:
Oh no! THREE bidders for leather house? :)
How frustrating.
3 bidders? I've never heard of an agent overseeing a bidding war like that. We got multiple offers when we sold for sale by owner, but never with a realtor. And, it's the leather house? I didn't realize that before. Good luck!
No, it's not the leather house. Sorry to disappoint.
Hey there,
Time for mom to weigh in. I'm GLAD it's not the leather house! I didn't think that was the one in the mix. I have also never heard of a bank doing their own bidding but it makes one wonder if none of the other actual bidders was even close to you if they are dropping the asking price 20k. I hate to say it my dear daughter but I could easily agree with Tim and drop your bid. But then again, it's not the house "I" am after. May the Lord bless you both with the wisdom you need and bring you to a place of agreement as a confirmation of that wisdom.
And............I love the last two pictures you posted of the girls! It sounds like you sweated blood to get them, but they are worth it.
4 days left 'til tax season ends. PTL! We are definitely ready to be done. Looking forward to our visit.
Love always,
Mom
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