My partner Clark had been working with clients and they were a month into the purchase contract for a home. The home was in need of repairs, it was a foreclosure and had been unattended for a couple of years. Clark had spent numerous hours getting estimates for repairs, the foreclosure bank replaced the roof, work toward the closing was coming to an end. Then a call came from the listing agent. The listing agent said "Clark I have a buyer in my office that wants to offer your client's $10,000 to cancel their contract." Clark was skeptical but presented the offer to his client's, stating it would only be an actual benefit of $2000 because they qualified for the $8000 tax credit, and they would loose the tax credit if they canceled the contract. The clients said "no" to the offer. Clark relayed the answer to the listing agent. In a few moments the listing agent called Clark "The buyer is willing to give your client's $20,000 to cancel their contract." The client's politely declined the second offer of $20,000 and were delighted that they purchased a home with instant equity to another buyer. With all of our years of experience, the listing agent, Clark and myself included, we never heard of this happening in a Real Estate transaction.
Bev Dudley, Realtor
Bev Dudley, Realtor