Family Inherited Land From Their Parents And Wanted To Sell It, But The Buyer Kept Changing Their Offer. So They Finally Found Another Buyer And Left The Other In A Tight Spot.
by Michael Levanduski
Inheriting a family farm can be a real blessing in many cases, but if nobody in the family can afford to keep it, then it is time to sell.
What would you do if the person trying to buy the farm was rude and demanding the entire time, and kept trying to lower the price beyond what is reasonable?
That is what happened to the family in this story, but they finally had enough and were able to get revenge on the buyer.
Be a jerk? Then you don’t get the house…
My grandparents built then lived in the same home since the early 70s.
It has 5 acres, and was a small scale farm for their family growing up.
They both passed away within a month of each other several months ago.
Their kids (my parents, aunt’s and uncles) didn’t need the home, and none of their kids (my siblings, cousins nor I) could afford it.
That can make things complicated.
It was in a trust, so all siblings needed to agree to make price, etc.
Most just wanted it to be sold quickly so they could move on with their lives.
They spent a couple months cleaning the property and house up, repairing anything minor, then put it on the market.
Comparables estimated the property over $850K, but it did need more work (roof replaced, and some cosmetic work on the foundation; wiring was updated back in the early 2000s).
There were a couple people showing interest, but no serious offers for a couple months.
So we dropped the price down to around $830K since there was a little work to be done.
Enter the most skuzzy realtor/buyer.
She’s not going to be happy if he ruins this for her.
He wanted it, but his wife REALLY wanted it.
They had put their house (in a more urban setting with a small fraction of an acre) on the market, and were under contract and basically guaranteed the same of their house for an obscene amount of money (according to my father; I forgot to ask how much their realtor found out it sold for).
They negotiated down to $740K, and all of siblings, since the property was in a trust account) accepted.
Sad to see it go to someone outside the family, but what do you do?
Nobody could afford it or needed that much property…
He represented himself as his realtor (which would mean he gets a percentage of the final price back at the end of it all. I understand it’s not technically illegal in our state, but it’s kind of BS IMO…).
Then he started asking for reduced price for many things – things like the cost of taking the outbuildings down (a horse coral, horse tack shed, greenhouse, and disconnected garage that was set up as a workshop).
What a hassle.
He said they were all a hazard, and he shouldn’t have to pay for them coming down (they passed building codes; just didn’t look perfect cosmetically on the outside).
Just one example, of many.
We just wanted to move on with our lives, but after we would accept an offer, he would then ask for more.
Drive the cost lower. Eventually got it down nearly below $600K.
He had about $3K tired up in escrow to purchase it, and his deadline for closing on the house or losing that money was approaching.
But he kept asking for more.
Because he kept negotiating, he passed his deadline to get his money back.
He asked for $580K.
Then my father snapped.
And I’ve never seen him snap. I’ve never seen him get petty.
But I’m glad he did.
This might work out well after all.
He called a nephew who has horses but wanted more property for adequate training and riding space.
Couldn’t afford what it was actually worth, so he had passed on it before.
My father asked if they would qualify for the last accepted price (just over $600K).
And they did!
All the siblings agreed, so they declined Realtor dude’s offer and said “never mind. We won’t sell to you” (through their realtor, of course).
So the jerk loses his $3K, doesn’t get the house, and doesn’t have a home at all.
He apparently really thought he would get my grandpa’s house, so his house was closed on, and he would have to move out very soon.
To say he was angry is an understatement.
He did it to himself.
Our poor realtor had to be the gatekeeper, but she at least took satisfaction in pointing out to him that it was his own fault he didn’t get the house.
We have to wait until the realtor guy signs the termination paperwork (which he’s delaying, since that was all he has left to try and stick “it” to our family), but Grandpa’s house is staying in the family once that final date passes (less than a week left).
My parents may not have sold the house for what it was worth, but it was worth sticking it to that guy.
That is a great story, and it is extra nice that the property gets to stay in the family.
Read on to see what the people in the comments have to say.
People need to know when to stop pushing.
Yeah, it all worked out in the end.
This person is surprised the earnest money was so low.
Hopefully that buyer learned his lesson.
Yup, don’t push someone’s patients too far.
I love that the farm got to stay in the family.
If you enjoyed this story, check out this post about a daughter who invited herself to her parents’ 40th anniversary vacation for all the wrong reasons.
Categories: STORIES
Tags: · family farm, inheritance, money, petty revenge, picture, property, real estate, reddit, rude buyer, top, trust
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