Wow, calling mom is really desperate and makes 1st agent really sound like a whiny rookie. Glad you are standing on your word and working with the folks who aren’t playing games. Hurrah! Sorry for your agent but mommy agent needs to teach her child how to convey buyers really want the property and not play games. So proud of you, CB!
What are the odds that the amount of credits/fine-tuning buyer #1 wouyld have demanded would have equaled the difference in offer prices?
That house deserves to be loved. Congrats!
The 2nd offer of whiner shows that they still weren’t serious until they knew someone else really wanted it. You did right, CB!
Congrats!
When we went to bed last night, I told my DH that I had money on CB standing by her word if the buyers came through with the proof of funds; no matter how much the other agent bumped the price.
Rookie agent -> no one likes a bully. And what he was trying was more bully than making a deal. Mommy should point that out.
Congratulations! I’m impressed by your integrity and pleased that you’re happy with the sales price for a lovely house. Also, I agree with CountingDown that the first folks would likely have nickle-and-dimed you to death after picking the house apart had you accepted their follow up offer. Hope you can take a break and celebrate before diving into the next project.
Congrats! You trusted your gut. You could have considered letting them each submit best and final allowing you to choose, but the second buyers seemed so much more above board and you want them to have your house!!
You can be pretty sure that the son agent was receiving advice from the mom at every step of the way. They thought they would be able to low-ball since the house has been sitting for a few weeks, and by being negative it would keep cb from holding out for too high a price, on the theory that if cb knew the buyers loved it she would be less likely to lower her price, or lower it as much.
Then cb gets another offer and refuses to play the game as it is normally played, which is that nothing matters but getting the highest price. So of course mom and junior are upset - mom’s game plan didn’t work, and junior lost out on a hefty payday and is probably pissed at mom for messing up his big deal.
The psychology is always interesting. People think have a price they want to spend, then the minute someone else shows interest the limits are out the window and they go nuts.
I hope cb didn’t leave too much money on the table, but I also have no doubt that the lowballers would have been looking for money off after the inspection, because I am sure that is in mom’s playbook as well.
One of the reasons I am happy is because I had a chance to go through the house with the buyers and honestly pointed out everything that might be a concern and issues that their Home Inspector would probably write up. In other words, we already did a mini Home Inspection. In every transaction I always write up about a 5 page explanation of everything done to the house and any issues I am aware of. We sent that to buyers last night and asked for a signed acknowledgement with their offer, including the standard Seller Disclosure docs.
My expensive bottle of champagne is at the project in the refrigerator. Definitely going over there and getting it for a celebration tonight!
We are marked Pending in the MLS. It’s the best feeling in the world, next to ‘Sold’ in the MLS
Yippee! The house will be loved by the new buyers!
Congratulations, cb! I am not a realtor (thank goodness) but it doesn’t seem that you had any ethical obligation to give the other buyers a chance to counter. They had submitted two offers that did not meet your requirements; and their agent’s assertions about having sold their Poway house were misleading. When the buyer came along and, without negotiations, met your asking price and other criteria, it seems perfectly reasonable to accept that offer without giving the first party a chance to counter again. Their agent did not serve them well.
I’m so happy about your news!
And now, like everyone else on cc…I can’t wait for the next one! Thank you once again for so generously sharing the details of your life as a flipper with us. It’s very kind of you to take the time to keep us updated. Your expertise and integrity are remarkable.
I wouldn’t be surprised if the losing bidders were readers of this thread. Their strategy corresponded pretty closely with what you’d expect someone to do if the bidder had access to the info posted on this thread.
CB - congratulations! It really sounds like these are the right people for the house.
cb, when the dust settles, I look forward to hearing all the details about the different offers. I hope you’re not leaving too much money on the table in order to do the right thing and take the second buyer’s offer. Doing the right thing should pay off in the long run.
I am so pleased for you and have such respect for your integrity in dealing with the buyers of this property and all the previous properties. You deserve that bottle of champagne!
Wait – you mean the losing buyers thought they could get a deal because they had to outfit the master closet ($1000, maybe $2000) and add a shower curtain?? Even with the Tyco chairman’s $6,000 shower curtain (remember that from years ago??), that doesn’t justify a low offer.
Very amusing.
You dodged a bullet with those first buyers. Who knows what kind of hiccups you would’ve run into through the closing process.
I’m not comfortable revealing dollar amounts and exact terms yet. More than happy to reveal everything as soon as we are sold.
You are making me nervous thinking that any potential buyer or agent would read through the whole thread!! Yikes, may have to double think my promise to the CC gang that I would be absolutely truthful about everything that goes wrong during a flip
Yes, I am sure that Mom was involved in offer strategy. Strategy is very different on high end homes. Very limited pool of buyers and it is generally accepted to submit low to start negotiations. They were just dealing with a naïve Seller who did not appreciate the strategy 
I have been psychologically avoiding emptying out my purse and posting the last bit of receipts (they’ve been in there for weeks!) to calculate final renovation cost. I’m finally going to get motivated and finish up everything. I should have a budget update posted sometime soon.
SO excited! And glad it is going to the straight-forward buyers who LOVE the house and much as WE do!! Congratulations!