Okay, that ending could be "read" stronger than I intended. I'm not going to edit, though, because I want to make the statement. Thanks!

I'd just wait till it went into foreclosure and get the house even cheaper.
The fact of the matter is this. The buyer has to watch out for what is in their best interest period.
It’s the sellers fault they over paid for the house or mortgaged their snow mobiles into their 4th mortgage on the same house. Who cares if they are crying at the closing table it’s their own dam fault!!!

Ummm... that is not always the case. People lose jobs, spouses die... there are many reasons why a person can no longer make their house payment. If pretending the seller always deserves to lose his home helps you sleep at night, so be it. Who cares? I do.

After sleeping on John S. comments... he does raise good questions. Personally, it doesn't matter to me HOW someone got into their tough predicament. Showing these houses is often sad, especially when kids are involved. It is just my opinion, and we all have one, that caring beyond myself and taking interest in community and beyond will create happiness and success for the whole. Personally, I could never enjoy being in possession of all the spoils I could imagine while the majority around me was in need. Absolutely I want the best deal for my buyer. To me, the best transaction is when the buyer is thrilled with his house and his payment and the Seller has not lost his butt in the deal. Everyone is smiling and shaking hands at the closing table. That's what I AIM for. Of course that cannot always happen and that's where you have to protect your buyer's interest. The tough part is identifying when you're no longer pretecting your interest and you've crossed the line into "greed". Again, my opinion, but greed bad. Greed drove the shady lenders to encourage people that they were getting loans that were good for them. Greed drove shady realtors to encourage buyers to buy, not only above their heads, but to buy houses that were bad deals. But back to my opening statement... John S. painted a picture that definitely does exist and that is the practice of tying toys into home loans. (Silly, silly, silly. Didn't you hear what Buddy said? SAVE! LIVE BENEATH YOUR MEANS!) To those Sellers, even though I agree the situation stinks, they have to be realistic... Your buyer is negotiating on your HOUSE not your toys. There are lots of other reasons we're losing our houses though. John S. has opened up a good opportunity to discuss some of the situations we're finding ourselves in. Agents (or anyone!) please share some stories you've run across. I think it'd be interesting and good for us all to understand a bit better what is going on in our community. Thanks JOHN S. for your comments!

Interesting posts. I see both sides to Reba and John S's discussion. I am, after all, a real estate professional, and a real estate investor (more of a hobbyist) always searching for a good-deal. (Let it be known that I have NEVER purchased listings from my seller-clients, which would be a nasty conflict of interest). Buyers are buyers are buyers and by instinct, they (we) want a good deal, it is the American way. However, to knowingly play hard-ball with the 85 year old widow that hasn’t slept since negotiations began is a shame. If you have a buyer’s agent worth half a nickel, you will know what kind of seller you are dealing with before hand, so to claim ignorance on the matter is weak. On the other hand, if you are dealing with a bank or a desperate investor that made bad decisions (been there done that!), I say HAVE AT IT! Pre-foreclosure, short-sale or other distressed sales are another story in my book…those sellers have families and more-than-likely have fallen on hard times due to health, job instability or other uncontrollable issues. To me, I’d rather help them, than prey on them. But that’s just me….one man, one broker and one soul. I tend to lean more towards the Reba mentality than the John S. way of thinking. That’s why I hired Reba and am proud to call her a colleague, a friend and peer. In Johns defense, it is easier to point the finger of blame than it is to embrace the blanket of compassion…we are, after all, only human.

I just had to chime on this one! I had a call last night from a "buyer" looking for a lease to own situation. Her husband had a bad car accident, and now they are reduced to one income. They have their house listed for 40k MORE than they paid for it LAST YEAR! I am not sure of their reasoning for this, but it would appear they are destine for foreclosure. But for the grace of God there go I. Did the listing agent "buy" their listing? Are they going to do incremntal price reductions till it is priced right? By that time school will have started, and they will have "lost" buyers who bought homes that were priced correctly.