So it's a bit confusing, but our offer was rejected. It's okay. It's supposed to happen this way.
We offered a certain amount with it being contingent on the sale of our house. We also wrote into the offer that we were bumpable. Meaning: if they got another offer, they could entertain it, let us know and give us 72 hours to come up with another offer/plan (getting more loan money so we could still get the house...not! what we would have done).
Their agent sat with them for almost two hours explaining that this was a good offer.
They rejected and lowered their price lower than what we had even offered, by quite a bit.
So, if it's supposed to be our house, it will be there when we can buy it. Alia has just said this means we have to sell our house faster. I could feel her shaking her head about this whole situation. I think she feels really bad (or is it badly), but extra motivated now (as if she wasn't motivated before).
2 comments:
That's bizarre. There's no risk to them with a bumpable offer. (As a buyer, I am horrified by the state of bumpability, by the way. Out here, once you sign a contract with a buyer you're committed to it.)
Most likely you would have run into other problems with these sellers down the line. The right house is out there.
I have found it quite interesting in this business when folks don't make the decisions we think is the best. Sellers and buyers are the utlimate decision-makers. They don't always make the decisions we think are the best.
As for the "bumpable offer", in our market, we also have similar clauses in sales contracts. It gives the seller an opportunity to sell the property if another offer comes in. It can put the buyer in a bind. At least it gives the parties an opportunity to re-negotiate.
I agree with cari, the right house is out there for you.
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