Desperate Negotiating

Just when I thought I was done, we aren't.

The sale I had been writing about all week fell out of escrow this morning. I tried to bet the agent his client would call me if it fell out of escrow. He wouldn't take the bet, because it doesn't take a psychic to know what was going to happen. His client left a message for me before noon today.

A few moments later the agent called me. His client had a change of heart and was agreeing to all the outrageous terms I threw out earlier this week if my buyers would just come back to the table. Marty said this was rock star negotiating. I think it was a desperate seller who already closed on his new home.

"No!" I cried. "Please, NO!" and then I had to disclose to the other agent the garbage my client pulled, which I think made him feel a teensy bit better that it wasn't his Karma that was attracting these yahoos. My client fired his loan officer early last week, did not tell me, and then told me after the close of business Friday they don't have the down payment and never had the down payment to buy the home. So, even if the sale went through, it wasn't going through.

The selling agent, unclear as to my consternation, started with "oh please.... see if your buyers will play along....I can get you a loan officer who rocks... please.... Don't make me have to put this house back on the market with this guy..." and other types of requests.

Anyway, I have written up a new contract. It needs to be signed. I am waiting for my client to 1) get prequalified with a loan officer he likes and 2) verify he has the down payment. This time I want bank statements. The new terms (the outrageous ones) should make this an easier sale for the buyer. He doesn't need to come in with as much money.

Right now we have a verbal agreement between the agents (he and I) that we will make this sale work. I pushed the closing date back a week, because, there is a new loan officer and the Independence Day holiday. And with all that, I am still asking for the seller to put up a pool fence. I figure the seller will just say no and that will be a small victory for him.