So I got an offer on the house I had listed in El Granada and it was so astonishingly bad that I can’t resist writing about it. Think of it as therapy…for me. Maybe think of it as an object lesson for you if you’re a buyer. Since the place was on the market for close to three months I sort of expected a low offer. That’s OK. We did indeed get a low offer…$75,000 under asking actually. Again…I get it, no problem. We also got an offer with 17 day contingencies for all categories and this part written in the “other terms and conditions” section of the contract:
” All furnishings including, but not limited to: window coverings and related hardware, drape mounting hardware over the closet and the drapes themselves, refrigerator/freezer, stove, microwave, kitchen table and chairs, coffee pot, TV, coffee table the TV sits on and the bed frame and mattress”.
My internal response to this? “You’ve got to be f%$#&*O kidding me!” Nothing like insulting a seller. Of course we said no thanks. Oddly enough, 3 or 4 days later I get a call from another agent who is writing an offer too. The guy who had written the charming offer above calls and tells me his folks want to try again. Now after 90 days we have multiple offers. This time our friends come in with a full price offer but have the same terms and furnishing requests. The seller requested a rent back of up to 60 days but was willing to pay the Buyer’s principal, interest, taxes and insurance and put up a deposit. In other words they are willing to cover the buyers expenses during the rent back period. It’s worth mentioning that rent backs occur all the time. I’ve closed 25 escrows this year and I had a rent back on 15 of them. No big deal.
Not to the buyers who want the coffee pot though. These folks told us that they simply couldn’t allow a rent back. They said they didn’t want renters in their home. I asked the buyers agent to think through this process for a minute. The people they’re talking about are the homeowners who’ve made the place they like so much attractive enough for them to write an offer on it. What do these folks think is going to happen? This nice family with 2 small kids is suddenly going to host multiple toga parties as soon as escrow closes? Start throwing half full kegs through the picture window? That argument didn’t work. We ended up taking the other offer, even though it was less money, just because these folks seemed normal.
Folks, if you’re about to write an offer on a home…don’t write one like this. I guarantee you that you will offend the seller. Also…you’ll be looking at houses and writing offers for a LONG TIME!