Urgent Need Help, Selling A House

[fish fingers]

What sets the price is the Agent's hunch for what u will accept. If you have already given the impression that you are considering x amount then the buyer will probably know..

[USNret]

This 1.5% is pretty small I think they will accept it. Or just insist on their 2nd offer. No way they will just forget about it all and not buy right?

That's a dangerous assumption. Until you have a signed agreement with some sort of cash deposit/earnest money, they can always walk away from the deal. I can guarantee they are moaning & complaining about how unreasonable you are being, even though your price might be completely fair. If you send another counter-offer of 1.5% above their latest price, that might be the last you ever hear from them & they disappear. Or they might accept your offer. None of us can guarantee anything.

Let us know how it works out; it's an interesting discussion.

[davejones]

This 1.5% is pretty small I think they will accept it. Or just insist on their 2nd offer. No way they will just forget about it all and not buy right?

That's a dangerous assumption. Until you have a signed agreement with some sort of cash deposit/earnest money, they can always walk away from the deal. I can guarantee they are moaning & complaining about how unreasonable you are being, even though your price might be completely fair. If you send another counter-offer of 1.5% above their latest price, that might be the last you ever hear from them & they disappear. Or they might accept your offer. None of us can guarantee anything.

Let us know how it works out; it's an interesting discussion.

I think most people that didn't agree with the 1.5% extra would just come back and say that their previous offer was the final one. I don't think many would just walk away if they wanted the property. If you're happy with the current offer though, no point trying to squeeze a little extra just for the sake of it. In this situation I'd just accept the offer. And maybe negotiate for them to pay some of the fees.

[Thaiaddict01]

Well their 2nd offer was with a signed document, if they back out they will need to pay their agent and maybe also me 3% but I didn't sign it, my agent said they should agree with the 1.5% or even 3.5%. more. But before my agent go to negotiate with them the whole thing is on hold.

this afternoon we were suppose to sign the contracts and finalize everything, but in the morning one of their investors called saying he wants to see the house. Previous 3 times he didn't come but the chairman I guess came. Chairman really liked the house according to my agent so he had the 2 offers. But I guess he didn't check or confirm with his company investors/board so it's gonna be delayed for 10 days. They are going out of country.

So I was kinda disappointed I thought everything will be done today, but then again a long time ago they wanted the house's blueprint so they can see if they can renovate to the way they want. But before they got the blueprint they also made the 2 offers so.....man I hate waiting and uncertainty.

so if I sign their 2nd offer and they back up I will get to keep some money. If they do buy the house I will lose a potential 1.5 to 3.5 %....

If they are a reputable or decent company how can they do things like this? they didn't check with their investors before making offers. And backing up the meeting at the very last day when the meeting was set up like 6 days ago. I have never met them yet...eveyrthing I know about them is from my agent, and RE agents you can't listen to 100% of their shit

[Khun Jean]

They play a good game.

At least they got you nervous.

When the building is really worth it, others will come, maybe even within the 10 days you now have to wait.

[pinfold]

They play a good game.

At least they got you nervous.

When the building is really worth it, others will come, maybe even within the 10 days you now have to wait.

They play a good game.

At least they got you nervous.

When the building is really worth it, others will come, maybe even within the 10 days you now have to wait.

They hold all the cards,they can and probably will reduce you to a nervous wreck. Been through it,but when you want to get shut you want shut like yesterday. Think for me took 18 months,just got sick of the process,endless bodies through the door,because your a foreigner they think your underclass or the like. Just all came together one day,got call to local 5 star hotel,never went,just another game player so I thought. Got another irritated call following day,so went along,tried to beat me down,did a bit,but held the line and out came a bundle of money all held together by rusty staples. Thing is another buyer showed up following day offered a ton more,but as they say A bird in the hand etc...

Just so so glad to get shut,never to buy in dodgy situations with threat of confiscation hanging in the air. Philippines ,Indonesia, plus one other nearby country reported on BBC recently joining the growing ranks of denying foreign ownership of house and land

[pinfold]

....above ,just remembered it is Sri Lanka that reportedly are cracking down on foreign ownership by applying 100% tax bill. The foreign owners in the country above this one were wiped out years ago

Edited March 8, 2013 by pinfold

[Thaiaddict01]

They play a good game.

At least they got you nervous.

When the building is really worth it, others will come, maybe even within the 10 days you now have to wait.

>They play a good game.

At least they got you nervous.

When the building is really worth it, others will come, maybe even within the 10 days you now have to wait.

They hold all the cards,they can and probably will reduce you to a nervous wreck. Been through it,but when you want to get shut you want shut like yesterday. Think for me took 18 months,just got sick of the process,endless bodies through the door,because your a foreigner they think your underclass or the like. Just all came together one day,got call to local 5 star hotel,never went,just another game player so I thought. Got another irritated call following day,so went along,tried to beat me down,did a bit,but held the line and out came a bundle of money all held together by rusty staples. Thing is another buyer showed up following day offered a ton more,but as they say A bird in the hand etc...

Just so so glad to get shut,never to buy in dodgy situations with threat of confiscation hanging in the air. Philippines ,Indonesia, plus one other nearby country reported on BBC recently joining the growing ranks of denying foreign ownership of house and land

they set up a meeting in a 5 star hotel, and they never went? and you knew so you didn't even go? Thai do this a lot huh?

I met this Thai girl in club, had a good time then later called her to meet somewhere, she said yea sure ok etc etc....but 15 minutes after the agreed time I called her and she was like.....oh man...ok I will come, hold on. maybe she thought I will never went or something

Well I asked my agent if I agree and sign the 2nd offer, will I get half of 3% if they don't buy the house at the end. His answer was no, before I signed it they can back out anytime without penalty. But the thing is they haven't back out at all yet. Why the agent doesn't want the lower price where it's easier for him to negotiate to buyer, and if I sign it he will also get a % if buyer backs out?

[NeverSure]

Remember "face" is sooo important to Thai people and they must get some reduction to be seen to be doing a deal.

What nonsense. This is a universal human trait. Which is why you see all those discount offers and reduction sale and stock clearance sale everywhere in the world.

I was going to chime in on this universal trait but you beat me. If you don't counter with at least something better than your asking price, their pride may cause them to walk.

Now, what's this about a face to face meeting? No way. That's what realtors are most valuable for. They keep the negotiations from becoming personal, which is another way to kill a deal. You make a counter offer and the realtor takes it back to the buyer. There's nothing personal with the realtor, he's just relaying information. Same if he comes back to you.

What a load of <deleted>. I've had a few first offers accept way below the asking price. I was very happy indeed. I did wonder if I could have got the properties for less, but the deal worked for me. Why the hell would you walk away from a great deal if the seller accepted your first offer. Only a crazy person would do that. I don't know anyone that would do that.

I think you've lost your mind. We're talking to the seller, not a buyer. The "seller" is the OP.

[pinfold]

If there is no money put up it is a waste of time talking about 3% of this or that. The longer the supposed buyer spins it out the less likely they will buy . They could sign this that or the other, with no money on the table ,you will be whistling for it

[Thaiaddict01]

ok this buyer really likes the house, made a large deposit. but we will sign the actual contract three months later. (It is actually me I want to sign it three months later, and he agreed to it. I don't want to say anything more or everyone will know it's me and I don't want that)

so my question is what if something happened during the three months? like a fire, earthquake then of course I need to return the house to its better state like before, but some cases it will take awhile. also I might think I did an ok job to return to its state before but he might not think so. So problems would arise, main problem is we are signing the contract three months later and what problems can happen and how do I deal with it? write it in paper first? any of you been in a similar situation before and how did you do this? thanks

[thunder30101]

The agent is playing both sides of the fence here def. Just remember you are falang and he will side with the thai. I would never wait three months for a sale from a thai, (shit or get off the pot they say) they will just walk away when they find a better deal and when they do good luck trying to get any satisfaction from the justice system (non existent) here on their failure to complete the sale signed documents or not.

[BlackPuddingBertha]

The agent is playing both sides of the fence here def. Just remember you are falang and he will side with the thai. I would never wait three months for a sale from a thai, (shit or get off the pot they say) they will just walk away when they find a better deal and when they do good luck trying to get any satisfaction from the justice system (non existent) here on their failure to complete the sale signed documents or not.

You seem to be missing the point.

The vendor wanted the three month delay, not the buyer. And the buyer has paid a large deposit, so in fact the vendor would be better off if the buyer did back out as he would keep the deposit and the house. That's how I would look at it.

[thunder30101]

You seem to be quite an <deleted> in every post you make.

[xylophone]

The agent is playing both sides of the fence here def. Just remember you are falang and he will side with the thai. I would never wait three months for a sale from a thai, (shit or get off the pot they say) they will just walk away when they find a better deal and when they do good luck trying to get any satisfaction from the justice system (non existent) here on their failure to complete the sale signed documents or not.

You seem to be missing the point.

The vendor wanted the three month delay, not the buyer. And the buyer has paid a large deposit, so in fact the vendor would be better off if the buyer did back out as he would keep the deposit and the house. That's how I would look at it.

Agree on that, and the fact that the buyers loses his deposit if he reneges on the deal is, or should be, written into every sale and purchase agreement. That's why Thaiaddict01 did the right thing in making the buyer put down a large deposit.

To Thaiaddict........don't get paranoid over things which are most unlikely to occur. In the contract it should stipulate that the house is being sold and an agreement to buy has been signed, based on the state of the house at the time of the signing. If you feel strongly about it, then take a few photographs of the place and keep them on file.

Earthquakes you can do nothing about anyway, so stop worrying, as for fire, make sure the GF fires up the barbecue a long way away!!

[Thaiaddict01]

well I see that no one is following the topic...but I wanna get something off my chest anyways, hopefully someone can respond or anything

(Well the buyer made a large deposit, but for certain reasons we are going to sign the contract in a couple months.)

Ok so the house is left from my granny, she left me a lot more than other family members, for the reason and few other reasons my relatives doesn't talk to me much and it's very sad for me. So the house is a family house, I grew up in it. After I sell it I will move back to the states and I will have nothing left from my granny. Maybe that's why I have weird headache and feeling weird sometimes.

So one the day when I decided to sell it, I didn't feel good for 10 days. I never felt like that before, different feeling than going to court, or going to take a test in school etc. And I haven't even contacted agent yet I was just thinking about selling the house and I felt weird. Hard to describe the feeling, kinda depressed? down, sick, doesn't feel like doing stuff, emptiness?

Then I changed my mind I decided not to sell it and I felt normal instantly...but few months later I still want to sell it. Even went to my granny's grave to ask her. went and asked three different times but she didn't let me know to not sell it or it's ok to sell it.

So on the day when I was going to meet the buyer and take the deposit and to really sell the house. At the first traffic light five cars was blocking me one after another, it was a coincidence but it was a weird one. Like they all didn't want me to pass or something!! Or maybe my granny doesn't want me to go? Then I got it done, signed the stuff got the deposit and went home, felt weird until several days ago, and that was a long long time.

Some say it's granny's way of letting me know not to sell the house, but due to certain circumstance I must sell it. Or maybe deep down inside it's me that doesn't want to sell it, because that's what I have left of granny and no one else in the family is talking to me for six years. or worst they trying to set me up and get my stuff maybe.

So if I really sell it I wonder if I will be really depress or get sick or something, I am kinda afraid. what do you guys think? maybe I should see a shrink to see what's up?

[USNret]

Just sell the house. Feeling remorse/fear/regret is common on both sides of the transaction. But considering there is some strife within the family, and the house sitting there empty, sooner or later this will cause more trouble in the family; others will make some claim on it, or whatever. Once the house is gone, all that internal trouble will go away. Considering how real estate works in Thailand, you were remarkably lucky to actually sell it, so take the money & run. No need to feel any regrets.

One question... where, exactly, is the "deposit"? Is it in your bank account, or your agent's account, or in escrow somewhere? Until you actually have your hands on the money, I would not feel safe. And if you have it in a Thai account, I would go ahead & send it now back to the States where no one can touch it.

[leeroy221]

Where is the property to?