First, I have a back-story, but you can skip to the break if you want the short story.
In 2004 Sparring Partner and I bought 10 acres of prairie. The 20 acres adjoining ours were owned by DrC. Over the next two years we built and moved into the home where we currently live. DrC decided to sell his 20. His Realtor, in a case of mistaken identity, asked Sparring Partner’s dad if he was interested in buying the 20 acres next to him. But those acres were next to him, they were next to us. Follow?
SP’s dad, an entrepreneur to be sure, instead of correcting the Realtor that he had the wrong Surname, decided on a whim to buy the 20 acres himself. My FIL never built next to us as had intended to make arrangements to either let us buy the property outright or leave it to SP in his will. Unfortunately, he never followed up on that intent before falling terminally ill and dying a couple years ago. The property became part of the family Trust by default.
A year ago we agreed to buy the 20 acres from that Trust. It was a very difficult decision financially because if FIL had “sold” it to us before his death, he would have done so at whatever his cost had been, which relatively and frankly speaking, was almost nothing. Instead we ended up having to pay appraised value because it was part of a Trust. I agreed to this with the stipulation that we would immediately turn around and sell 10 acres off to defray the cost.
My husband, being the sentimental kind of guy he is, even though the property wasn’t anything more than an acquisition to my FIL, had our Realtor list the property exorbitantly high. He decided that if I was going to make him sell the land, he wasn’t going to let it go easily.
We are not quite to the break, if you’re still following along. This fall we received our first offer, but nearly half of what it was listed. Sparring Partner was so insulted, he refused to even counter. A couple of weeks later, the same buyer made a legitimate offer, albeit still too low. We countered. They came back a little higher. We countered. They came back a little higher. We did not counter. Yes, it was a joint decision. We determined that the potential buyer made the offer because it was their first and preferred choice. Acreage in the area with distinct advantages like ours, are rare. We were convinced we hadn’t heard the last from them.
Last week, we received an offer to buy 10 acres we had listed for sale. It was from the same people (with the same Realtor) who had made an offer several months ago. There was some countering on both sides, but on Friday we accepted their offer. Our Realtor emailed the paperwork to us to review, and then early this afternoon she forwarded an attachment of a map confirming the property that was to be sold. As soon as I opened the file, my stomach dropped. Due to an inaccurate description, the buyers and their agent had thought they were purchasing the 10 acres adjacent to ours instead of the lot furthest away.
We immediately called our Realtor and told her of the error. I am so disappointed by what I’m sure will be this as a deal-breaker. I’m angry at how careless and irresponsible both the Realtors were for not catching it and misrepresenting the property. Finally, I am just heart-sick for the buyers themselves. We’ve seen them walking the property more than once with a couple of small children and people who were likely their parents. They are a young family hoping to build a home. They’ve stood and watched the sunset on what they thought would be the location of their deck. They probably made announcements this weekend, and even when they went to work this morning, the week of Christmas, that they finally found where they will raise their children.
I wouldn’t want to be the buyer’s representative right now trying to explain how he screwed up, but I feel even worse for that family.