Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Well, our revised offer was accepted yesterday. Hopefully we didn't outbid ourselves. We feel we are still getting a very nice house at a fair price, so we're happy. Now we have to sell our own house...hopefully this won't be too challenging.
Well, you never know if there is indeed a second offer or not. It happens more often than you think it does especially if the property is priced to sell.
I have had multiple offers representing the Seller and the Buyer before. When I was representing the Seller, I had two very close offers when the 2 Buyers submitted their final and best offer. My Sellers asked me, what I thought was the best question ever. Which of the 2 potential Buyers would be least amount of drama for them
IMO, you just have to submit your final and best offer and just be okay with whatever you submit/offer.
In my last sale, after a few negotiations with two buyers, we ended up taking the lower of two final offers as it was "cleaner" deal, meaning no other house for our buyer to sell, pre-approval bank letter, company relocation, timing, etc.
If you want the house I suggest you raise your offer at leat one time and see what happens. Even if lower then other offerS, you might be the "cleaner" deal.
Well, our revised offer was accepted yesterday. Hopefully we didn't outbid ourselves. We feel we are still getting a very nice house at a fair price, so we're happy. Now we have to sell our own house...hopefully this won't be too challenging.
Sounds good. I don't have any data to prove it, but my anecdotal observation over the years have been that the happiest buyers are the ones who won a multiple offer situation. There is something psychological that happens when you prevail over others who wanted the same house.
Of course it still has to survive inspection and appraisal, so you shouldn't fall completely in love with it, but if you're feeling good about the price you'll probably be happy with the deal in the end.
Well, our revised offer was accepted yesterday. Hopefully we didn't outbid ourselves. We feel we are still getting a very nice house at a fair price, so we're happy. Now we have to sell our own house...hopefully this won't be too challenging.
I have to wonder if there even was another offer here. Why would a seller accept the offer from someone who first has to sell his own house?
That would be at the bottom of the stack for me, as a seller.
Is your offer contingent on the sale of your own house?
I have to wonder if there even was another offer here. Why would a seller accept the offer from someone who first has to sell his own house?
That would be at the bottom of the stack for me, as a seller.
Is your offer contingent on the sale of your own house?
The more I've thought about it, I'm pretty sure there was another offer. We think that it probably also had a sale contingency. Yes, our offer is contingent on selling our house. We already have ours listed, and priced pretty aggressively ($10K below assessed value, and $20K below the appraisal we had done last year, before we put in new windows).
... the happiest buyers are the ones who won a multiple offer situation....
Steve
Beg to differ...
Multi-bid = ball in the seller's court.
Singular bid = ball in the buyer's court.
Buyer is happiest when they have a really really great deal, and that deal will be that lowball deal (min) NOT the multi-bid deal (anything above that min). It is "above" the min..... after-all.
Its all about the pocketbook... and not to be caught up in only "the moment".
Always think the "long run", NOT the momentary victory.
Beg to differ...
Multi-bid = ball in the seller's court.
Singular bid = ball in the buyer's court.
Buyer is happiest when they have a really really great deal, and that deal will be that lowball deal (min) NOT the multi-bid deal (anything above that min). It is "above" the min..... after-all.
Its all about the pocketbook... and not to be caught up in only "the moment".
Always think the "long run", NOT the momentary victory.
I'm just reporting the reality of it. Seen it many times. Didn't say it makes sense.
I've seen extremely happy multi-offer, over-list buyers.
And I've seen single offer, lowball buyers walk away from great deals because they doubt themselves.
Buyers like reassurance more than anything. To many, nothing is more reassuring than knowing other people wanted your house too.
Steve
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
