So my wife and I are starting the painful task of trying to find a house to purchase. And for all you cool cats who live in the Northeast, you are more than familiar with the insane state of the real estate market and how it just brings out the “very best” in people. So, before we even really got started on this quest, we actually found a place that we both liked. It was a place that needed just a ton of work as it had not been updated since the go-go 1980′s – it had wonderful sheer wallpaper, lots of wallpaper runners, stenseled flowers on the walls, and lots of other vintage 1980′s amenities. Just bust out the big hair and the teal suit and you are right at home. In addition, the roof had never been replaced since the house was built, all the appliances were 20 years old and the bathrooms were original. In a nutshell, it just needed a ton of work. But the space was great, the layout of the house was great and it had a ton of potential (ah, potential – famous last words for baseball prospects…I think you know where this story is going).

The house was on the market since May, it had been seen by over 80 people and received a grand total of zero bids. The price was reduced around the time we saw it. The bid we put in was a little low, but we thought it was still very fair based on the condition of the house. We did our research and knew that other houses in the area in similar condition were sold at that similar prices to what we bid. The owner obviously wanted more and in a move that is easily one of the most outrageous and un-professional moves I have ever heard of in the real estate wars, he called up all the different realtors that had shown the house (without his listing agent knowing) and informed these people that the price was reduced. He also said that the minimum bid he would entertain would be $5K more than what we bid. We initially resisted, but eventually re-submitted the higher bid and were the first people to do so. But that seemingly did not matter as the owner informed us through the listing agent that he had accepted a bid for the exact same amount as what we bid, but that it was a “cash bid” or a non-contingency bid for the house.

Needless to say, we were dissapointed by how the owner had handled the situation. But I guess it means that there is another place out there that is far better.