The following is a list of questions the buyer asked, and the real estate agent’s response:
Why is the home owner selling?
The Answer: The home owner is selling to move closer to work. The seller is selling because he had been there since 2003.
Both of these answers are incomplete and it seems as if either the real estate does not know the client, or does not care enough about the buyer to find out the answer. The response seems to be either a guess or made up.
Is the home owner buying another property?
The Answer: The real estate seemed uninterested in this question and did not provide a response.
The selling agent almost always helps the seller purchase the seller’s next property in the process of selling there current property. If the seller is not interested in this question or does not know the answer, then it is likely the buyer is not buying again. This leads me to believe that the seller is not interested in home ownership after this experience.
What was the seller’s original Purchase Date and Purchase Price?
The Answer: July 28, 2004 for $307,000
The seller’s agent knew the answer, which is a good thing, but this property was listed in 2009 at only $365,000. This is a bad sign because the property only increased in value by 18% at the posted price which is only 3.6%/year. The final selling price ended at $345,000 which makes this even worse.
How long has the property been listed for? Has it been relisted?
The Answer: The property listed has been extended past the regular 90 days.
The seller is unwilling to negotiate a fair price. This has caused the listing to extend a long time, and the seller has no motivation to move within a short period of time. An unmotivated seller makes for poor negotiation.
What time frames is the seller looking to close for: 30/45/60/90 days?
The Answer: The seller has not started looking for another house, so they would prefer a longer closing.
This tells the buyer that the seller is not motivated to sell, and the seller is not interested in negotiating prices. The seller is not searching a property currently, and is not interested in selling unless the right price comes along.
Can a Seller Property Information Statement be completed?
The Answer: The seller will not complete one.
This is a major turn off, and any seller that is unwilling to complete this form for an offer, is not interested in selling. This is sometimes a deal killer because there is a lot of information on this form that a buyer needs to know.
What chattels are included with the purchase?
The Answer: All major appliances are included.
It is fairly standard for the major appliances to be left with the residence. This does not affect the negotiation of the price.
What fixtures will be included?
The Answer: All lighting and drapes will be included.
This is fairly standard as well. This does not affect the negotiation of the price.
Would a clause be included in the agreement that states if any unstated repairs are required in the inspection, then they will be covered by the seller?
The Answer: The seller is unwilling to make this agreement. Make the offer conditional upon inspection and review the inspection upon completion.
It sounds like the real estate is gambling that your inspector will not pick up on certain things, and you will be stuck with a lemon of a property. If the seller is unwilling to guarantee the property, then something must be wrong with it.
Is there any plumbing, electrical, or flooding issues?
The Answer: No issues.
The seller does not have to be honest about a question like this. Once again, the real estate agent may not know the answer or may lie to get the sale.
What is the history of the house? Has there been any fire, flooding, major damage, or major crime?
The Answer: Nothing to the real estates knowledge of this type of thing.
The seller does not have to be honest about a question like this. Once again, the real estate agent may not know the answer or may lie to get the sale.
In conclusion, some serious issues are apparent. The first issue is that the seller is unwilling to negotiate at all, and with the high price, this makes for a bad combination. It also appears that the seller is trying to hide something about the house. Maybe there is some hidden damage or a history with the house. The seller does not have any motivation to move, so it may be difficult to secure a proper moving date. This is definitely a house you would not want to be interested in.
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