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It hit the market yesterday afternoon, I went and saw it last night. We gave them a full price offer, did not ask for any concessions, allowing them to close when they want.
There are no set rules, of course, but I think that when you immediately make a full price offer the Seller automatically begins to wonder whether they priced the house too low. For that reason, and others, I usually encourage people to offer less than asking price. Everything depends on the market, though--whether it's a Buyer's or a Seller's market.
There are no set rules, of course, but I think that when you immediately make a full price offer the Seller automatically begins to wonder whether they priced the house too low. For that reason, and others, I usually encourage people to offer less than asking price. Everything depends on the market, though--whether it's a Buyer's or a Seller's market.
We did not want to play any games so we offered full price. It was a house we knew we wanted and did not want to go back and forth with negotiating. I guess that bit us in the butt!
I listed a house at a fair market value but, being in a hot market, instructed the realtor not to accept offers for a week. I felt this was the best way to acquire and evaluate offers and also communicate our strategy to buyers. When the week was over we accepted a contract. I think your sellers' realtor should have been more sophisticated in marketing the house. They set you up for frustration.
If I would have known up front that they were going to do something like this, it would have been easier to tolerate. They would have let me know upfront what the deal was. This, I believe, is them trying to get into bidding war after the fact.
Their realtor said to my agent this afternoon that the sellers had no intention of entertaining our offer until at least tonight.
List price is not always expected full price and is often just a starting point unfortunately and is priced lower to get people interested. I understand your side and their side.
In my current house search, I had one Realtor suggest that when I make an offer, give it a time to accept - example.. my offer is x - in 3 days my offer becomes x-5k.. etc. It could be a week.. just gets sellers (and the blasted banks) off their butts to make a decision.
I know - and I probably never would. But seriously, I think it is really rude to list a house and have someone offer you exactly what you want and then tell them your not going to sign.
It may not be listed for exactly what they want.
List price is not "The Price," but merely a solicitation for an offer.
And, in a sellers' market, there is a fair amount of leverage that a seller has coming right out of a chute.
You might have put a time limit on the offer, but most sellers are just ignoring that approach because there isn't enough inventory to make that limit meaningfull.
This is standard in a seller's market. If you want a house you have to overbid.
I agree. I don't consider it rude. I often see houses that sell above the original asking price. When we bought our house 7 years ago we started at $10k over list price on the day it was listed.
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