Market Wise Q&A from the SJMN: When Setting the Stage for Multiple Offers is All for Naught
Pat Kapowich for the San Jose Mercury News Q: While selling our house we initially were going to have three offers come in at the same time. Unfortunately, two of the three families dropped out a few hours before the offers were to be presented. The Agents representing these buyers who cancelled their respective appointments cited our next door neighbor as the reason. Evidently one family chatted with the man next door and the other buyers were told about him by some neighbors. After listening to the only offer, our Listing Agent insisted upon telling the Buyer’s Agent who was making the offer that the other two parties withdrew at the last minute. He then requested that the Buyer’s Agent inform his buyers of that fact before moving forward with the negotiations.
We did sell our house but these last minute development ruined our negotiating power and subsequently cost us thousands of dollars. Did our Listing Agent really need to conduct the negotiations in that fashion? If so, is there any way to recoup our loss from the grumpy neighbor next door?
A: Your Listing Agent conducted the negotiations in a superb manner. Real Estate Attorneys have cases where the next door neighbor goes out of their way to hinder a neighboring sale. However, in this case it sounds like the neighbor is simply a grumpy individual who couldn't care less if you sell the house or not. Either way, even if a Real Estate Attorney took your case, the legal fees could easily wind up being larger than any award.
REALTOR®, Pat Kapowich Certified Real Estate Brokerage Manager (CRB) ABR, CRS, GRI & SRES Home Sales Expertise and Experience (408) 245-7700