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I have had my home listed to sell for nearly 2 years now. I just had a contract fall through with a seller that attempted to 'suck us dry' (120% tax reproration, 25K in escrow for 3 years in case of potential condo special assessment, 3 'free showings' to measure for the wooden floors they planned to install)...the entire month of November I bent over backwards for a 1st time buyer who pulled out in the end. Any encouraging words...very down about it...twins in this one bedroom...pulling my hair out and frowning often. Sorry to sound so pitiful...just want to hear some 'up' personal experiences in home selling if possible.”

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  • I am a realtor on a very busy team for a top agent. I manage about 30-40 transactions at a time and I can tell you that right now, there are sooooo many bottom feeding buyers out there that try to suck our sellers dry. We try to avoid it as much as we can but with the market being what it is, if your house hasn't sold in a long time, there isn't really a choice but to give any buyer a shot. However, the whole 120% tax proration and 25K in escrow is unheard of, even here in South Florida. As an agent, we would have never allowed this to become part of the contract unless the seller really, really, really wanted to try to make the deal work and begged us to go along with it (which has happened and the deals usually die).

    However, yes buyers make a TON of demands right now and many of them are not reasonable. It is up to your realtor and the buyer's realtor to explain things properly to the buyer so that the deal does not die and doesnt leave you screwed. HOWEVER, on the bright side, I can't imagine any buyer being any worse than this so the next one has to be better! It probably wasn't meant to be that you put out all of that money for this buyer in the first place and the next one will be easy. Be forewarned on this trend that I have noticed - any buyer who demands too much is actually afraid to buy and most of these deals fall through. They are just looking for a way out. Also, make sure that you have a listing agent from a name company (Coldwell Banker, Keller Williams, etc) because this really and truly makes a difference in their training and ability to troubleshoot these problems and get the deals closed.

    Flag as inappropriate Posted by oceans mom on 8th December 2009