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MikesBride
LIF Adult
Member since 12/09 1245 total posts
Name:
Ilana
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Inspection w/another offer on the table...UPDATE
So...unfortunately another offer came in on the house. We don't know anything about it...it could be higher or lower, they won't tell us (ethical violation). My RE said from what she pulled from the sellers RE she thinks that the guy will have to sell his house before he can buy this one which would work in our favor.
Either way, we are set to go through with an inspection tomorrow. If we have the inspection and then she decides to go with this other offer do we have any hope of getting our money back from her?? I wish she would let us know before the inspection if she wants to go with this other guy...I don't want to spend $400-$500 for nothing 
UPDATE: The seller did NOT take the other offer...but she also texted her RE to tell us to cancel our inspection. Now her RE cannot get a hold of her at all. I have no idea whats going on but I have a bad feeling that we are not going to end up getting this house
Message edited 4/13/2011 4:49:24 PM.
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Posted 4/12/11 5:24 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
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Re: Inspection w/another offer on the table
I know there is something called first refusal and I *think* it is when you have the chance to walk away after the inspection or if your deal falls through, they use that offer as a back up.
I am sure Beth or Christine ( I think that is her name) would know better.
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| Posted 4/12/11 5:35 PM |
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Re: Inspection w/another offer on the table
they should let you know before you go thru with the inspection
I would never let me client spend money on an inspection in this situation
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| Posted 4/12/11 5:36 PM |
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maymama
my little loves
Member since 8/08 18453 total posts
Name:
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Re: Inspection w/another offer on the table
we had a similar situation. we were AT THE HOUSE during the inspection when their agent told ours that another offer had come in.
we were told by our agent that if the buyer had gone with the other offer, she would have to reimburse us the cost of the inspection  I hope that helps!
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| Posted 4/12/11 5:51 PM |
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Re: Inspection w/another offer on the table
I agree with Beth that you should be wary. There is nothing that compels (from a legal standpoint -- common decency is another issue!) the seller to reimburse the cost of the home inspection in this situation (i.e., the seller has not yet signed the contract). And here, they have revealed that there is another offer that the seller is considering, so you know the facts; now you need to decide if you want to risk the money to do the home inspection at this point. In general, NY's real estate laws follow the "buyer beware" theme.
Did the sellers sign the sales agreement (the form on which your written offer is submitted)? Most don't, because their attorneys tell them not to (or the buyer's agent just doesn't ask), but you do have a stronger "case," so to speak, that the sellers agreed to the deal if they countersign the offer.
However, while the seller certainly can take a better offer if the contract hasn't yet been signed, I think that morally the sellers SHOULD do the right thing and reimburse the buyer. If I were the listing agent, I would encourage my clients to do that, if they take the higher offer.
BUT - Assuming the information you have is correct, I would never advise a seller to take an offer that is contingent on the sale of a home. Way too much uncertainty there, imo. I can't imagine the listing agent would advise her clients to take that offer. Do you know when the seller is going to decide what's going on with the other offer? It's not right to leave you guys hanging, especially since you are ready to move forward with the home inspection. Did your agent ask?
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| Posted 4/12/11 6:54 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Inspection w/another offer on the table
I would call back my agent and tell her/him you will hold off the inspection until the seller decides whose offer she/he wants.
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| Posted 4/12/11 9:11 PM |
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babyface10
LIF Adolescent
Member since 3/11 804 total posts
Name:
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Re: Inspection w/another offer on the table
We are in the same boat only we had our inspection already then another offer came in.
But thankfully the Seller did the right thing and told them it was sold already.
Best of Luck.
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| Posted 4/13/11 7:47 AM |
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caps612
In love with my little guys!!
Member since 8/10 5108 total posts
Name:
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Re: Inspection w/another offer on the table
I would try to hold off on the inspection until you are more comfortable in where you stand with the the seller. Unfortunately, you take on the cost of the inspection cause its to cover your butt and they have no obligation to reimburse you. I know this cause I tried, i even tied to sell the report to the other people... we inspected a house after our offer was accepted, no one said there was any other offers, another came in AFTER we had it inspected... we lost the house, I was out $500... it really sukcs.
The seller can do what they want until the contact is signed, which means I guess they can be mean and immoral.
Message edited 4/13/2011 9:18:47 AM.
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| Posted 4/13/11 9:16 AM |
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Re: Inspection w/another offer on the table
Posted by Beth EXIT Realty
they should let you know before you go thru with the inspection
I would never let me client spend money on an inspection in this situation
And this is why you ROCK!!!
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| Posted 4/13/11 9:20 AM |
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MikesBride
LIF Adult
Member since 12/09 1245 total posts
Name:
Ilana
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Re: Inspection w/another offer on the table...UPDATE
BUMP for update
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| Posted 4/13/11 4:49 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
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Re: Inspection w/another offer on the table...UPDATE
I am so sorry to hear this  
I hope it turns around and you get some better news
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| Posted 4/13/11 7:31 PM |
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maymama
my little loves
Member since 8/08 18453 total posts
Name:
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Re: Inspection w/another offer on the table...UPDATE
thats strange. maybe its as simple as she needs to reschedule it?
i hope shes not withdrawing it 
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| Posted 4/13/11 7:48 PM |
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MikesBride
LIF Adult
Member since 12/09 1245 total posts
Name:
Ilana
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Re: Inspection w/another offer on the table...UPDATE
Posted by maymama
thats strange. maybe its as simple as she needs to reschedule it?
i hope shes not withdrawing it
As far as I can tell (from the info my RE has gleaned) she is really wishy washy...Its been on and off the market at slowly decreasing price points for the last 4 years. It was listed at $439 and the offer she accepted was $415...I guess maybe she's regretting it and didn't want us to spend money on the inspection?
If she's decided to reject our offer then I wish she'd just say so. It just seems like common courtesy to me, but I've never bought a house before so I don't know if that's the norm.
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| Posted 4/13/11 8:24 PM |
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bride07
Ava Rose you are an angel!!!
Member since 3/09 6115 total posts
Name:
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Re: Inspection w/another offer on the table...UPDATE
I'm sorry. Hopefully she will let you reschedule the inspection and everything will work out.
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| Posted 4/13/11 8:36 PM |
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MikesBride
LIF Adult
Member since 12/09 1245 total posts
Name:
Ilana
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Re: Inspection w/another offer on the table...UPDATE
Posted by bride07
I'm sorry. Hopefully she will let you reschedule the inspection and everything will work out.
I'm pretty sure she's decided to change her mind and reject our offer (and maybe even pull the house back of the market, AGAIN)...she just doesn't have the freakin balls to tell us and put us out of our misery...just totally unprofessional 
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| Posted 4/13/11 9:04 PM |
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