Heres my question: Do you guys have any advice on how we could have handled the situation better or if you think we did the right or wrong thing?
EDIT: I’m a brand new agent buying a house for my significant other and I.
Here’s the story behind the text messages:
We made a cash offer but there are other offers so she went to everyone and asked for highest and best. We decided to do $1.35 million cash as our highest and best as that’s what we are most comfortable with.
The next day she contacted me if we can match a mortgage offer of 1.42 with cash. When decline she asking if we would go higher and never gave me a real counter offer just asking how high we will go.
We were perfectly fine negotiating with the seller if we knew he was close to selling to us but a matching offer isn’t a counter, especially when we declined it. That’s just us biding against ourselves when we don’t know if he’d take it if we increased our offer. For all we know the seller has zero intention of going below 1.42 and is just trying to get a higher cash offer to use agasint the morage offer to increase their offer.
We were fine going up to 1.375 or if we found the house truly compelling and our forever home potentially to pay 1.4 mil cash after seeing it a second time. Which I’m certain the sellers would take as their previous deal wasted 3 months as the buyers fell through on their mortgage and they were already packed to leave the country even.
However at this point we don’t find it smart to just keep biding against ourselves when the seller never gave us real counter offer or shows seriousness to our offer. He never countered our 1.3 or even an earlier offer that was 3 days before any other offers from other people came in. Infact from our original offer 3 days she said she that she just got new offers later and will negotiate and was planning on countering our offer in the next day, so I just told her we will automatically go to 1.3 to save time never getting to hear the next day counter offer. And then came the highest and best request another 3 days later.
At this point we just stayed at 1.35 and if they really want to meet in the middle and have interest in our offer maybe the they will come to us.
However we have considered this house a loss even though we would have gone potentially thigher but my partner feels like he’s just getting used a little and bidding against himself constantly.
I hope we made the right decision however I really do like the house. We ate not in a rush to buy I’m sure with patience we will find and okay deal and a home we like.