Reply to How to entice seller to take semi-low offer?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]In late Spring we accepted a full price, all cash offer from a buyer who started with a low ball offer.  We had three offers that first week, two at full price.  After the inspection, buyer requested 15% in lowered price.  House  located where market not as hot as immediate D.C. area, and in basically sound condition.  Buyer walked when we said no to lower price.  Lesson learned?  We lost two other buyers, continued carrying empty house with summer maintenance required, and market slowed down mid-summer.  Lesson learned?  If a buyer is a pain in the neck initially, will continue to generate drama for the seller.  It's not worth it.  I will never accept a lowballer's offer again.[/quote]

But you should have been able to keep the EMD then, right?  If it was a substantial amount, then that is compensation for your time and money spent while the house was off the market and not selling.

And since you accepted a full-price offer, why does this affect accepting a lowball offer?  If you negotiate a lowball to near list, then you obvious have a buyer who is willing to negotiated and work with you.  As opposed to the slime who put in a full price offer with no intent to pay full price.[/quote]

Nobody keeps the EMD of a buyer who walks on the inspection contingency.[/quote]

Not true.  You have to show proof that there were issues in the inspection that triggered the lower price offer.  If the indie tion found no issues that justified the lower price then the buyer cannot activate the inspection contingency and just randomly lower the price.  Price adjustments have to be based on inspection issues flagged during the inspection.

If there were major issues flagged then it wasn't just an unwarranted price adjustment.[/quote]

This is not how most inspection contingencies work.  In general, you can indeed "randomly" lower the price, regardless of what issues were found (or not).  In some cases, the buyer may only be able to walk, but not negotiate.[/quote]

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