Selling my home, offering $ to another seller in my neighborhood to turn away a buyer

[dirtboy]

Originally posted by: ThaGrandCow
I've heard rumors that the housing market in CA is dropping through the floor, is this true or just a quirk of the area that you live in?

It's true statewide. Rampant overbuilding, speculation and rising interest rates will contribute to a major drop... estimates say housing in my town alone are overvalued by more than 60%.

 

[Row1and]

pictures of your house maybe???

ky is a sweet state. I'm here right now.

 

[Kelemvor]

You said he put in an offer? If you are desperate, then just accept the offer. What's the problem?

 

[TripleAAA]

Originally posted by: FrankyJunior
You said he put in an offer? If you are desperate, then just accept the offer. What's the problem?

I made a counter offer, but the only changes made were some clarifications in the wording of the contract. They didn't accept and ended up buying the other house.

It seems like I'm right on the cusp of getting another offer any day, so I'm just going to take a deep breath and try to be patient.

 

[MooseKnuckle]

$500 you are kidding right?

 

[FrustratedUser]

Originally posted by: TripleAAA
I've been trying to sell my home for the past few months and the market has slowed so much that I'm now at a point of desperation to sell the place. I received an offer from a buyer a few days ago and since then, this buyer has also put in an offer on another house around the corner from mine.

I've considered writing a letter to this other seller and offering them $500 to turn away this potential buyer. The important thing to note here is that the buyer has been extremely "lowballing" both of our homes asking prices. I literally HAVE to sell my home in the next month or so, or risk a lot of educational/future goals that I have for myself right now. My hope is that this other seller will take the offer I've proposed and be willing to hold out longer for another offer to come around.

What would you do and does anyone know the legalities of this? I realize its a desperate move.

I'm so stressed out and never want to sell a house again under my financial conditions!

Doesn't sound like he's lowballing. There's not a guy named 'Bob Marketprice' who sets the price. If you can't seel teh house for what you're asking you're simply asking to much.

Not sure if it's illegal to do what you do but it's definately a grey zone.

 

[FrustratedUser]

Originally posted by: RyanSengara

Originally posted by: ThaGrandCow
I've heard rumors that the housing market in CA is dropping through the floor, is this true or just a quirk of the area that you live in?

Yeah and Arizona too.

Poof. There goes the bubble.

I'm so happy to hear that. In 2004 something funky happened in AZ. I believe there was a mass invasion of rich people buying property like crazy. The market was HOT!
Looks like the cashed out and left fscking everyone over.

 

[Row1and]

pictures of the house man.. i wanna see pics.

 

[Slew Foot]

the longer you wait, the more $$ youre going to lose. Prices in CA are going to drop up to 50% in some places (the central valley is one of them), get out now before you're hosed.