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Old 04-24-2017, 10:22 PM
 
908 posts, read 956,531 times
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so we got 7 bids on our condo! most of them are very similar but there are two that my husband and i are interested in. i am interested in A. It's the lowest offer (but still above asking price) but all cash and can close deal in 14 days. My husband is interested in B which is more money by about $20K but will probably close in 30-45 days and had a couple of contingencies the others didn't have (fixing up small things here and there but gives me the impression the buyer is picky).

what would you do?
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Old 04-24-2017, 10:50 PM
 
Location: El paso,tx
4,513 posts, read 2,499,896 times
Reputation: 8199
Have you already sent a multiple offer notice to all potential buyers and asked for their highest and best offer? If not, do so. If you have, take the cash offer if it doesn't have an appraisal contingency. The financed offer for 20k more might not appraise, and then you are screwed.
Whatever you do, ask the 2nd place offer if they'd like to have the back up offer in place, so you are protected if the first one falls thru.
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Old 04-24-2017, 10:54 PM
 
Location: northern va
1,736 posts, read 2,879,836 times
Reputation: 1688
does the cash offer have an inspection contingency? after your fiasco with the mold etc, I'd be leaning towards an offer as least obtrusive as possible
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Old 04-24-2017, 10:56 PM
 
908 posts, read 956,531 times
Reputation: 2557
Quote:
Originally Posted by Spottednikes View Post
Have you already sent a multiple offer notice to all potential buyers and asked for their highest and best offer? If not, do so. If you have, take the cash offer if it doesn't have an appraisal contingency. The financed offer for 20k more might not appraise, and then you are screwed.
Whatever you do, ask the 2nd place offer if they'd like to have the back up offer in place, so you are protected if the first one falls thru.
yes my agent sent the notice asking for highest and best offers. seems like B. has a lot of money so i think they could cover if the appraisal fell short but good point. another reason why i like A!
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Old 04-25-2017, 05:05 AM
 
Location: Southern California
4,453 posts, read 6,773,970 times
Reputation: 2238
I'd take B. There are currently a bunch of A offers in this market if things don't work out. Comps would need to support B's offer price. 20k is a lot of money even if you need to spend a few thousand more, you'd still be left with over 10k
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Old 04-25-2017, 10:49 AM
 
908 posts, read 956,531 times
Reputation: 2557
well, we countered them all and they responded... we will be going with A as they increased their price another $23K!!
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Old 04-25-2017, 10:39 PM
 
Location: Taipei
7,775 posts, read 10,095,655 times
Reputation: 4974
Wow amazing! Congrats!!
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