Stupid Realtors Doing Stupid Things

[James Wise]

So I'm selling this super cheap house in Cleveland for $6,900. It's Condemned and needs a teardown or total $100k+ rehab.

An agent submits an offer to me with a $500 earnest money deposit and a proof of funds with $12,000 in it. The proof of funds, had a different name on it than the person who signed the purchase agreement with her.

I request clarification on why the names were different as well as an increase in earnest money from $500 to $5,000. Cuz you know, I'm not stupid.

lol, this is where it gets good. Agent fires back two emails in quick succession

"Why is the seller asking for such a high earnest money amount? I sell 300K+ homes that don't ask for that... seems fishy"

"Well, that just scared them away. They have decided not to move forward now (can't blame them). I would have moved along myself. Please eliminate their offer. They have chosen to offer on 4 other properties. Let me know if your seller changes their mind in the future. Have a great selling season. 🙂"

My reply to her

"lol, the person with $12k in their bank account put in offers on 4 more properties today? This is why $5k was requested lol."

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Moral of the story - Stick to the suburban homes lady, selling investor homes in the hood ain't for you. You ain't about this life.

[David Leggett]

That's smart to ask for more earnest money, especially with these condemned homes in Cleveland!  Those can be hard to sell, especially when these investors actually find out how much work these properties are going to need and it's not really going to cost them 12-20k like they were hoping and then they're running for the hills never to be heard from again!  You aint lying!