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.
I never realized how emotionally draining this could be... Made an offer $100K above list, very loose contingencies, and wrote a great offer letter just to be beat out with someone that was willing to go with no contingencies. I'm guessing it was a cash deal. Ugh.
It can be pretty tough out there to buy property right now. In some of the markets I work in, for every 1 offer you get from an average Joe you get 3 offers from Chinese investors. Of course, the average Joe offers less money and needs financing to complete the purchase whereas the investor is paying all cash, waiving the inspection, and offering to buy at a higher price.
$100,000 above list price?!? how much was it for? where at?
You are probably right that there was a cash deal. In my market, some sellers will go with a cash deal over a financed offer as long as they are relatively close in price. Other sellers will go with the highest purchase price offer even if it is financed, as long as there is a solid pre-approval. It sounds like you did all you could. Best advice is to get right back out there and find another one.
It can be pretty tough out there to buy property right now. In some of the markets I work in, for every 1 offer you get from an average Joe you get 3 offers from Chinese investors. Of course, the average Joe offers less money and needs financing to complete the purchase whereas the investor is paying all cash, waiving the inspection, and offering to buy at a higher price.
Where are such neighborhoods?
I'm glad to hear it isn't just a west coast thing.
WTB, I hope the place you over bid 100k wasn't near the freeway, I think you would've over paid. If you send me the address, I'll tell you in a couple of month if financing was used.
I'm glad to hear it isn't just a west coast thing.
WTB, I hope the place you over bid 100k wasn't near the freeway, I think you would've over paid. If you send me the address, I'll tell you in a couple of month if financing was used.
Someone told me they have a Realtor tool to check for financing but I never figured it out.. Any tips? I know about MERS ServicerID but that's only right half the time.
I'm glad to hear it isn't just a west coast thing.
WTB, I hope the place you over bid 100k wasn't near the freeway, I think you would've over paid. If you send me the address, I'll tell you in a couple of month if financing was used.
It list a $800 HOA, did you really want something that high? I have no idea what it includes.
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.
