BennyEast.Com/Blog The official blog of Kenny West

In The Loop (more on the condo business stuffs)

So I'm doing that whole bid back and forth thing with the condo price.  The seller wants a price... I want a price.

That's cool.  I started at 95 because well... That's what my budget is!  Really 100 is my budget on purchasing a condo.  I'm trying to stay at that.  The condo was listed at 115.  I know that they want to get a good price for it too!  So both sides are trying to find a happy medium.

Well after I said 95K they said 106K.  Ok cool.... still 6 over my limit.  I thought about that... then I said ok... between 95k and 106K is 101K....

1k over.

I did it anyways.  101K but that's as far as I can go!  So... I waited to hear back.

Well... here's where it gets sticky/tricky....

The owners of the condo are the parents... I guess an elderly lady lived there... so the elderly ladies kid and her husband I think are the ones selling it... well... they were the ones who said 106.  Then right after they said that they went to europe.  And they gave their daughter.... power of attorney on it... BUT they said 106 is the lowest we authorize.

So 101 is my top and 106 is their bottom.  OK soooo the daughter came back to my 101 with 104... which legally and technically she can do...

So here was my response.  I didn't counter.... I'm waiting at 101... because... she did the 104 on her own.  Which is fine... it's fair... I would probably agree to 103... it's a little over my budget but I would do 103.  So maybe I would counter the 104 with 102 and then we meet in the middle.... ya know, how the monkey does... or malcolm.  Or that jimmy eat world song.

But my response was... I want to wait to see what the parents authorize.  I KNOW, yes... it's JUST business... but I don't like that the parents said 106 min and the daughter is saying 104 without the parents blessing!

I know i'm not suppose to care...

After all why should I care about the dynamics of some other family of which I know nothing about...

AND I know it's just a real estate transaction.  That a buyer is just a buyer and a seller is just a seller and after the deal is done both go on their merry way...

But I just don't feel right with the parents not knowing about the offer made below their limit!  I guess I'm a bad business person or whatever but I want blessings from the parents on the 104 before I can act on it.  It's weird... I'm weird...

So I want to just wait till the parents can be contacted in europe or are back from europe so that everyone is in the loop.

My realtor said that I might lose the 104 offer and it goes back to 106... and you know... I feel like that's ok.  Because as much as I want to get a better price... I don't want to get a better price at the lack of someone's knowledge and then have them find out it was sold 2k less than they wished for without their knowledge.

Maybe I'm the only one this makes sense to... but I guess that's just how I feel... so I want to wait for the parents to know about the 101 and then have them say YES 104 is fine.... before I act on that.  I don't want to say oh yes you say 104 and I say 102... let's just say 103 and we have a deal...

Then the mom and dad get home and find out to their surprise that the condo sold for 2 or 3 or whatever thousand less than they had wished for.  I know it's stupid and I know that i'm probably being foolish.

Maybe the daughter knows that her parents won't go lower than 106 and she's trying to help me and will deal with her parents when they come back if she can make the sale before they get home... So I might even be shooting my self in the foot...

But I just don't like secrets and I don't like when people are left out of the loop on things!