In article , " CID wrote:
Hi, I am new to this news group, so please help a noob.

After looking through many house listings in my area I finally found a
place I really want to get. The asking price of the house was set at
204.900, and I wanted to place a bid at around 188.000. The market in
my area is not HOT.. for example, the house I want to buy has been on
the market for 3 months so far, so I am taking for granted that not
many people wish to buy the place at the asking price.

That would be a correct assumption. If it hasn't sold in three months, the
asking price is too high. Too high for the location, too high for the
condition, whatever, doesn't matter.

[snip]

am I correct to say that if they accepted my offer VERBALLY during the
original deal, are they ethically or legally force to go through the
deal?

Probably not. Generally speaking, real estate sale/purchase agreements need to
be in writing to be valid.

do I have any legal ground to raise some hell on this?

Probably not.

Am I right to say the whole thing sounds very suspicious? not able to
contact the owner agent for 2 days.. making my offer wait and wait..
never really be told a final answer? Simple ys or no should be
sufficient. I am not even getting a counter offer, i am simply being
told its being looked at! both offers have now expired!

I don't think you're being scammed, but I *do* think you're being jerked
around.

Several things you should consider:

First, in some jurisdictions (and I don't know what's the case in yours), as a
buyer, you don't have any such thing as "your" agent: *both* agents are
legally *obligated* to work in the financial interest of the *seller*, as it
is the *seller* who pays their fee. Unless you have a written agreement with
"your" agent that stipulates that he is working in your interest only, assume
that he does *not* work for you. Please note that his behavior is consistent
with that assumption.

Second, even if your agent really *is* your agent, remember that he has his
own interests to look out for as well. The higher the selling price of the
house, the higher his commission on the sale. His personal interest in seeing
a higher selling price is in direct conflict with any contractual obligation
he *may* have to you as buyer to help you obtain the home at the lowest
possible price. Most realtors are able to set their personal interests aside,
realizing that it is in their best interest long-term to serve their clients
ably and honestly. I've met a few that are not, and it seems that you have
too.

Third, the seller is under no obligation to respond _at_all_ to any purchase
offer that falls short of his full asking price. Certainly it's *courteous* to
do so, even if only to reject the offer outright without a counteroffer, but
he's not required to. If you receive no response within the time limit
specified, assume your offer has been rejected.

Finally, recognize that, even after three months, this seller still thinks
that he can eventually sell this house to someone for more money than you're
offering, and doesn't appear to much care just how long it takes. Either he
has a grossly unrealistic idea of what the house is worth, or he's in no great
hurry to sell it, or both. Either way, you have no leverage with which to
persuade him to reduce the price, other than your willingness to walk away.

IMO this seller is going to be a pain in the @$$ throughout the entire
transaction, and so is your agent. My advice: walk away from both. Find a
different agent, from a different agency, tomorrow morning. And look at other
houses.

Alternatively, you could try to get yourself some compensation for having to
deal with two pains in the @$$: offer the seller $175K, with a 24-hour
deadline, and stipulate that this is your "best and final offer" to be either
accepted in full, or rejected in full. Just be ready to walk away if it's
rejected (which I think you should do anyway).

--
Regards,
Doug Miller (alphageek at milmac dot com)

Nobody ever left footprints in the sands of time by sitting on his butt.
And who wants to leave buttprints in the sands of time?