getting out of real estate deal on home

[the-butcher]

I believe in honoring your word but seems like op feels like he trusted agent that gave him bad advise on listing price and agreed to it ,some dont know everything about realestate and he trusted agent..after getting full offers quick he took a look and figured he made a mistake. I say its your house your money pull off market and start over in couple months. I dont see a big prob...

[JSquaredDaddy]

He did the research, suggested a price, you agreed and signed a contract. Since you got offers so soon you now feel that he "didn't do his job". I have two suggestions. 1) Put yourself in his shoes for a minute. How would you feel if someone asked you to build them something and then they decided not to pay for it after it is done. 2) You are going to have to look at yourself everyday in the mirror. Do what you feel is right thing. Money comes and money goes fairly easily. Especially the latter. Integrity, once lost, is hard to get back.

[txtrophy85]

lol. the bravado....

this isn't a bar fight, it's a business deal.

he's trying to back out because he is concerned that the agent didn't do his job pricing the property correctly. He relied on who he thought was the expert, and now he has some options.

If you hire a lawyer or a doctor to do a job for you and they screw it up, are you going to just sit there and take it?

How did the agent "screw it up"

[Birddog66]

I don't understand....you picked the price to list it at, why are you mad at the agent?

all he did was bring you an full price contract at a price you told him to.

His agent suggested 235k, he went with 250k and got multi-offers/full price offer. I see his reason for frustration. Question is what does he do now. Imo- I would take full price offer as-is, no repairs during option period, and move on down the road and not be liable for paying commiss on a deal I didn't accept. He!!, u may have priced it perfect.

If buyer opt's out during option period u can put it back on market at higher price and give it a try.

[rjtkdplus]

I'm pretty sure he asked if there is a way to get out of the deal, not, do you think I'm a bad person? Yes, you can get out of the deal.

[DNTRanch]

How did the agent "screw it up"

That's a dump question, he already said he did't think it was listed at the right price

[txtrophy85]

He chose the listing price, not the agent.

So what is the "dump question" again?

[DNTRanch]

He said he told the agent he thought it was to low. I would do what Atfulldraw is suggesting and make some deals with the high bidders.

[txtrophy85]

I've sold properties at full asking price....and surprised that we got that much. Both sold fast because there wasn't anything on the market, not because the price was too low

[KR-oldmexico]

Just go back to your realitor and get them to raise the price!!!

I didn't read entire thread so sorry if this has been suggested! Good luck but don't let greed get the best of you! It's sounds like they have already gotten what you all thought it was worth....

[down2hunt]

As a listing agent sellers are usually frustrated with you because you either sold their house too fast or not fast enough. Rarely do we sell it at the exact right time

[BIG IRON]

As a listing agent sellers are usually frustrated with you because you either sold their house too fast or not fast enough. Rarely do we sell it at the exact right time

Or the right price we are about to put our house up for sale. Our realtor suggested one price and we bumped it $5k. It is the least expensive house in a great neighborhood with only one other house on the market but it is priced over $80k more than ours will be. We are expecting a quick sale at close to full pop.

You can always do as Rod suggested and negotiate the price up. You have a couple buyers and one house. Find out who wants it more, no shame or unfair dealings in that.

[Birddog66]

I would think/assume your listing agent has already informed all party's there is a multi-offer situation, and all party need to submit there best and highest offer by certain time/date. Did this happen, or is it happening?

[Preacher Man]

From the 1st listed on the search -


So does that mean that it really didn't sell for $127,687 as stated?

No. I am an appraiser and I looked it up. That property did not sell for that amount.

[Burnadell]

We listed the house not even a week ago and took the realtors advice on what to list it at based on his market analysis.

He said at the max to list at 235... I chose to list at 249 and practiacally have people bidding it up. It should have been priced closer to 265-270!!.

You first said you took his advice; then you said you did not and listed it higher. ??? Which was it???

A realtor's suggested price is just that, a suggestion. It should be somewhat objective, based on comparables, which YOU should have asked to see. Even then, the suggested listing price is still subjective.

The bottom line is that the listing price is YOUR decision, not the realtor's...and you agreed and signed the contract! This was YOUR decision to list it at $249, not the realtor's.