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Old 11-13-2018, 10:29 AM
 
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OP-Are you still using the same agent that cost you a $1500 DD fee over a house near a quarry, or was that not enough to change agents?
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Old 11-13-2018, 10:43 AM
 
Location: My House
34,937 posts, read 36,167,969 times
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Okay... so let us assume there ARE multiple offers. Why is the seller not just countering your offer of (whatever it is) to see if you'll pay more than some other person?

If I had 3 people offering on a house I was selling, I'd look at all three and then I'd counter on the one that looked the most promising. If they didn't give me what I wanted, I might then look to the next most promising buyer.

I mean, asking you to tell them YOUR best offer is asking you to bet against some invisible offers (that may not exist), so aren't you just bidding against yourself?

I'd be cautious when asked to do that.
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Old 11-13-2018, 11:13 AM
 
Location: Chapel Hill
138 posts, read 119,114 times
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Quote:
Originally Posted by RedZin View Post
Okay... so let us assume there ARE multiple offers. Why is the seller not just countering your offer of (whatever it is) to see if you'll pay more than some other person?

If I had 3 people offering on a house I was selling, I'd look at all three and then I'd counter on the one that looked the most promising. If they didn't give me what I wanted, I might then look to the next most promising buyer.

I mean, asking you to tell them YOUR best offer is asking you to bet against some invisible offers (that may not exist), so aren't you just bidding against yourself?

I'd be cautious when asked to do that.
This is an interesting topic. From my understanding, when there is multiple offers involved, for some legal reason, listing agent is not allowed to share what other buyers have bid. So for example, you like a house listed at 300k. You may even go upto 320k to get that house but you don't know how much others are bidding. So you go lower than what you think the house is worth, let's say 310k. Now, the highest bid was 315k and you lose the house. In this situation, if you had known the highest bid was 315k , you would have bid up to 320k and may have gotten the house and seller would have additional 5k. Win - Win for both. On the other hand, if you had bid 320k, and no one bid above the listing price, you would have "overpaid" by 20k.
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Old 11-13-2018, 11:57 AM
Status: "Made the Retirement Run in under 12 parsecs!!!" (set 22 days ago)
 
Location: Cary, NC
43,177 posts, read 76,826,386 times
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Quote:
Originally Posted by OUTISD View Post
This is an interesting topic. From my understanding, when there is multiple offers involved, for some legal reason, listing agent is not allowed to share what other buyers have bid. So for example, you like a house listed at 300k. You may even go upto 320k to get that house but you don't know how much others are bidding. So you go lower than what you think the house is worth, let's say 310k. Now, the highest bid was 315k and you lose the house. In this situation, if you had known the highest bid was 315k , you would have bid up to 320k and may have gotten the house and seller would have additional 5k. Win - Win for both. On the other hand, if you had bid 320k, and no one bid above the listing price, you would have "overpaid" by 20k.
Ergo:
Quote:
Originally Posted by MikeJaquish View Post
Offer what a property is worth to you.
Right. Listing agents cannot share offer price and terms with other potential buyers without permission from the offeror.
It is an "Offer," not an "Auction Bid."
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Old 11-13-2018, 12:17 PM
 
120 posts, read 97,328 times
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Originally Posted by TarHeelNick View Post
Have you ever seen the show "The Good Place"?

If so....you're straight-up Chidi'ing this process.

If not....it's on netflix and hulu and even if you don't like the show; you should watch a few episodes to get a sense of that reference and reflect.

I havent seen it, but I will try couple episodes
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Old 11-13-2018, 12:22 PM
 
120 posts, read 97,328 times
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Quote:
Originally Posted by farebluenc View Post
If you're being this wishy washy, it's probably not the right house. I looked at several houses, but knew when I visited my house.

Maybe take a break from house searching. I wouldn't let your lease ending push you into buying a house you're not crazy about.
From all the houses I saw, there was only one house that I really really liked, but couple hours after I saw it went contingent, couldnt even put an offer on it, it went so fast
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Old 11-13-2018, 12:25 PM
 
9,265 posts, read 8,232,899 times
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I still laugh about when we were house hunting here. Coming from MA, every single house we looked at was like a palace compared to what we were used to. It made house hunting really simple.

Looking back, we probably bought a house that was pretty "outdated" in Triangle standards, but was super updated in MA standards. But I have zero regrets - we bought mainly for the land and location, not the house. The house can always be changed.
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Old 11-13-2018, 12:31 PM
 
120 posts, read 97,328 times
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Quote:
Originally Posted by Funky Chicken View Post
OP-Are you still using the same agent that cost you a $1500 DD fee over a house near a quarry, or was that not enough to change agents?
I am still using the same agent and she is very good agent as I said earlier. I just like to get second and third opinions before making a decision...
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Old 11-13-2018, 12:40 PM
 
120 posts, read 97,328 times
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Quote:
Originally Posted by m378 View Post
I still laugh about when we were house hunting here. Coming from MA, every single house we looked at was like a palace compared to what we were used to. It made house hunting really simple.

Looking back, we probably bought a house that was pretty "outdated" in Triangle standards, but was super updated in MA standards. But I have zero regrets - we bought mainly for the land and location, not the house. The house can always be changed.
I know what you mean I felt the same way when I moved from Bay Area CA to Minneapolis MN metro area, all houses in MN looked like palace comparing to what we could afford in Bay Area lol. But after MN, its more difficult to pick a house here
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Old 11-13-2018, 12:57 PM
 
120 posts, read 97,328 times
Reputation: 48
Quote:
Originally Posted by OUTISD View Post
This is an interesting topic. From my understanding, when there is multiple offers involved, for some legal reason, listing agent is not allowed to share what other buyers have bid. So for example, you like a house listed at 300k. You may even go upto 320k to get that house but you don't know how much others are bidding. So you go lower than what you think the house is worth, let's say 310k. Now, the highest bid was 315k and you lose the house. In this situation, if you had known the highest bid was 315k , you would have bid up to 320k and may have gotten the house and seller would have additional 5k. Win - Win for both. On the other hand, if you had bid 320k, and no one bid above the listing price, you would have "overpaid" by 20k.
Thats true, thats how I feel with multiple offers situations....
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