The agent used a tactic like that on the very first home I purchased back in the early 90's. I didn't realize it then though. I didn't have an agent, I just called the # on the sign and asked to see it. After walking through I told her we'd think about it and she told me if we were considering it at all to get back with her ASAP since there was a couple from out of town coming in the next day to see it. Naive as we were we decided to just go for it so we didn't lose out. I know in my heart of hearts there was no other buyer now. Still, we were happy with the house but it certainly wasn't the smartest way to buy. The home we purchased back in 2001 was on the market for a couple of months with no offers. It was one of the first homes we looked at and while we thought it was great, my hubby was worried about the price (it was just over the highest end of our budget) and we literally just started looking so we wanted to see what was out there. Several weeks later we made an offer on a nice, more affordable (30K less which was significant for us at the time!) home that had been on the market for 3 months with no offers. That very same day another couple made an offer too! We offered 6k less than asking but agreed to a rent back for a time as the sellers said they desperately needed. The other couple offered asking with no rent back. They took the better cash and we lost the house. My Hubby said, "if not now, then better" and we tried to get over the disappointment and kept looking. A few weeks later I saw "this" home had been reduced by 5K and we decided to look at it again. As we pulled up, there was another agent showing the house...they were walking out as we were walking up and they looked as though they really liked the place. Smiling, chatting, stopping to look back at the exterior etc. When we walked in I was immediately reminded how nice it was in relation to everything else we saw in our price range. When we were leaving my agent asked if we were ready to write an offer. I wanted to sleep on it, but the agent said these other people were likely to put in an offer. He may or may not have been right but my hubby didn't want to risk losing another place so he agreed we should just go for it. Looking back, I wonder if it was just his way of prompting us to make a snap decision, but I guess I will never know, and I really have no regrets, it's a beautiful place, a nice neighborhood and has served us well. Now, some of our needs have changed and we are ready to move on and upgrade somewhat. I've learned a lot since then and wouldn't allow myself to make a snap decision based on another possible offer unless it was on a place that I really wanted, but also realize that those circumstances DO happen! 40 days on the market isnt a long time either.

Congrats! It sounds like you did your homework. I hope all goes well with your sale.

Update: Thanks for the advice on seller financing. I was having trouble with my realtor and it clouded my vision. I took the house off the market. I am going to continue doing all the repairs, spending $3,000. a year. We got a fourth offer. She said it wasn't that great, and I didn't see it. (I think it was with seller financing.) You were right about the family. That night, I heard a bunch of people outside my home as I was trying to sleep. A man's voice said, "Stephenie, your house isn't selling. "125,000." It was so creepy! Thank God I didn't get into that mess! The agent was trying to control who I chose as an agent for the cabin I'd found. She also wasn't conveying my messages to the agents who had made offers. She kept trying to get all buddy buddy with me, and discussing inappropriate subjects. (Her daughter on meth and pregant with twins, her sex life, her grandchild that she has custody of because she was going into foster care...") I kept trying to get her to focus on the business of the sale and she would veer off. It's like she wanted a therapist or a friend. She said that the buyers who had made offers talked to the next door neighbors and they had nothing nice to say about me or my property. (He was intercepting them during showings.) I was worried that would happen. That's why I was moving, to get away from them. My mom said they may buy the REO cabin as an investment property. They could pay cash. They helped me buy this one, and are very happy with how it looks now. It was an eyesore when we bought it.

If I wrote my selling story, it would sound almost identical to yours! Except for our issue (initially) was an underground oil tank, which we removed and spent thousands converting to gas and installing a brand new top of the line furnace. Our house is updated down to the studs except for the windows which were next on our list. New kitchen with granite etc. We are 6+ months on the market and about to expire with our 2nd realtor. Our list price is now down to what our comp houses actually sold for about 6 months ago and on top of that we are offering to pay closing costs. Two low ball offers (we, like you, moved and our house is vacant). Considering a third agent or FSBO. I feel your pain! Not sure what state you are in but in my state (nj) normally the listing expires and then if you relist on the MLS it goes back to 0 again. However, RE agents can always pull the MLS listing history, which will show the house going on and off the market over time. Buyers who might be considering the house will know, as will the local agents.