Almost Homeless Now

I have a buyer for the Irvine house now after a bit of drama. This is really the second round of offers. During its first listing on the MLS, we got lots of traffic on the first few days. We actually had two offers after the 4th day. The first one is really a low ball; it was only $5K over a short sales, almost an insult. The second one was a bit higher. So our agent told both parties that we had a multiple offer, which means they should provide their best counteroffers and we would pick from one of them. They were not told how many were on the table. When it is more than one, it qualifies as multiple.

After receiving round one counter offers from these two, we picked the higher one, obviously. Then I didn’t hear back from anyone for a few days. I kind of knew something wasn’t right. My agent told me the first buyer backed out and decided to buy at another location in Irvine. Both Tom and I think there is some human psychology involved. We went through the same thinking process when we attempted for the last home. If we got picked, we would wonder if we overpaid. If we didn’t get picked, we wonder what’s wrong with the offer. There is no right answer. So they probably think the over paid on their offer.

Then my agent asked if I want to go back to the second best offer, which is about 2% less than the best offer. I said no, without thinking much as we have only been on the market for less than a week. What is the rush? Now is the time I vent about all real estate agents. Regardless if you are the seller or buyer, all real estate agents I ever know are only there to server their own purposes. I don’t think they really put their clients’ interest as top priority. Their priority is to close the sales since that is when and how they would get paid! Big conflict of interest!!!

So when we were trying to buy a house, that agent was pushing us to put up the most money. Now when we are selling a house, this one was prompting us to sell as fast as we can. Very disappointing. It was a good thing that I said NO when he asked if I wanted to go with the second best offer. Within 24 hours, literally, we got another offer. Buyer #3 is better than the two from the first round!!! So far, they already did a visual inspection, and I think we are expected to close within 30 days. That is why I feel like “Almost Homeless”!!!!