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Old 03-05-2018, 08:40 AM
 
Location: Denver CO
20,975 posts, read 11,624,951 times
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Congratulations!! Hopefully you can share more details once everything is final, but you will love Park Hill, it's a great area!
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Old 03-05-2018, 08:54 AM
 
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Congratulations! Did you have to switch realtors or just strategy?
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Old 03-05-2018, 12:33 PM
 
43 posts, read 42,754 times
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Originally Posted by emm74 View Post
Congratulations!! Hopefully you can share more details once everything is final, but you will love Park Hill, it's a great area!
Thank you!!
We are really super excited. Seems like we went full circle; started looking in park Hill; then wash park, congress park, even checked out the burbs and finally back to Park Hill.
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Old 03-05-2018, 12:35 PM
 
43 posts, read 42,754 times
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Originally Posted by mic111 View Post
Congratulations! Did you have to switch realtors or just strategy?
Realtor is the same; we liked him from the get go and he is really someone we trust.
I guess our strategy changed - we decided to compromise on street area (some traffic noise outside) and keep other parameters.
But honestly I think we were lucky; sellers are really motivated and prob would sell to someone else that had a decent offer as well
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Old 03-05-2018, 12:57 PM
 
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Congrats again. I think you really lucked out. I heard from a friend this morning who's family member put a house up for sale last Thurs. Showings started Fri. a.m. They said they would look at offers on Sun. Had 7 offers (3 or 4 all cash), some with but some without contingencies. Who knows what would have happened if they left it on a full week. It was a nice house in a nice neighborhood.
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Old 03-06-2018, 05:37 AM
 
43 posts, read 42,754 times
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Originally Posted by mic111 View Post
Congrats again. I think you really lucked out. I heard from a friend this morning who's family member put a house up for sale last Thurs. Showings started Fri. a.m. They said they would look at offers on Sun. Had 7 offers (3 or 4 all cash), some with but some without contingencies. Who knows what would have happened if they left it on a full week. It was a nice house in a nice neighborhood.
I agree; luck played a huge role. We cannot compete with cash offers and were not willing to waive appraisal or inspection which apparently is very common in this market. Lol.
Hope we keep our luck and we can actually close the deal
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Old 03-06-2018, 07:35 AM
 
2,243 posts, read 931,065 times
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Originally Posted by drmoneytails View Post
I agree; luck played a huge role. We cannot compete with cash offers and were not willing to waive appraisal or inspection which apparently is very common in this market. Lol.
Hope we keep our luck and we can actually close the deal
You can still have an inspection while waiving inspection as being a contingency for the deal to close. We waived inspection on our home, but I still had an inspection done on it. Given the state that the home was in, we were fairly confident that it was in decent shape.

I probably wouldn't have done the same on an older home though.
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Old 03-06-2018, 07:53 AM
 
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What I don't understand is why their realtor didn't let it go to a competitive bid situation by specifying they would look at all offers on a certain day. Perhaps it was a 'right priced' house and they weren't expecting a bunch of offers. In this market that seems to be a poor strategy but some homeowners probably aren't comfortable going out with a low asking price so the owner may have insisted on a more traditional sales strategy. That worked in your favor.
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Old 03-06-2018, 07:53 AM
 
43 posts, read 42,754 times
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Quote:
Originally Posted by Left-handed View Post
You can still have an inspection while waiving inspection as being a contingency for the deal to close. We waived inspection on our home, but I still had an inspection done on it. Given the state that the home was in, we were fairly confident that it was in decent shape.

I probably wouldn't have done the same on an older home though.
Thatís true. If we were buying newer properties I would do the same as you. But with these early 20th century homes and being a first time home buyer, I did not feel confident to waive it
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Old 03-06-2018, 07:57 AM
 
43 posts, read 42,754 times
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Quote:
Originally Posted by mic111 View Post
What I don't understand is why their realtor didn't let it go to a competitive bid situation by specifying they would look at all offers on a certain day. Perhaps it was a 'right priced' house and they weren't expecting a bunch of offers. In this market that seems to be a poor strategy but some homeowners probably aren't comfortable going out with a low asking price so the owner may have insisted on a more traditional sales strategy. That worked in your favor.
And I was wondering the same thing myself. I have to admit i had a little “buyers remorse” the first night - I kept thinking, did I do something wrong, did they just take our offer so fast because it’s a great deal for them? But the more I learned about the facts, the more I understood why they did that and I am very comfortable now with the terms of this deal. I did not want to have to bid on a house again and offer all sorts of crazy stuff - some places asked for a 6 month post occupancy agreement and they still had several over asking price offers. Most in cash.
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