Thought I would share this story about purchasing an REO (bank owned property) in Portland. I represented the Buyer. Buyer makes a low offer, and Seller (Bank) counters. Fortunately Seller has a good, experienced REO Realtor. We came to agreement on price….but not until the seller rejected our offer, and immediately adjusted the list price to match our best offer. We came back at it with another offer at that price. Seller accepted it. We are off to the races now. Buyer has a property inspection. Whoa! The heat system is shot. Buyer gets a bid….Whoa! again….the price tag is $23,000! We ask the seller to cover the cost. Well, they didn’t kick us to the curb, but they negotiated hard. They finally came to the table with $10400 toward the new heat system plus the $10,000 of closing costs they had already agreed to pay. We negotiated hard too. Buyer did lose patience, but , as they said, at least one of the buyer’s (husband and wife) kept their cool at each cross road. They finally closed on a really nice house on a very big lot, for a great price. It did take lots of patience on their part, and a lot of hard negotiating on my part to represent their needs and wants if they took possession of this property. The seller’s agent was also great. What home seller’s and buyer’s sometimes don’t know if that so much negotiating goes on between the agents……..not that the agents negotiate something without their client’s knowledge, but the agents often worry the know on troublesome transactions until they come up with a reasonable solution that will meet each of their client’s needs. We earn our money in this negotiation process.