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We were looking for a condo to be close to the relatives when we visited and made a full price offer but needed a long close. It went to someone with a short close.
you lost a $580K house by $1K? What was the asking price?
It was listed for $579K. We were willing to go to $585 or $586 and had an escalation built in to that point (I can't exactly recall) but it sold for $587K. We thought people would be scared off by the $951 HOA fee monthly but we underestimated. It was a beautiful unit. Much better than the pics show. Just big and airy with a lot of original charm.
I rarely if ever will go above asking. I hate that entire idea. But I made an exception for this one. And we still didn't get it.
We lost a house in our hunt this past summer to a cash offer. We were so disappointed, because it was exactly where we wanted to live, and with the space we desired to have. Fortunately, about a month and two houses later, our offer was accepted on where we live now. Not only was it in the same community as the one we wanted before, it was also far more updated than the previous one. I don't necessarily believe in destiny, but that sure worked out well in our favor.
It was listed for $579K. We were willing to go to $585 or $586 and had an escalation built in to that point (I can't exactly recall) but it sold for $587K. We thought people would be scared off by the $951 HOA fee monthly but we underestimated. It was a beautiful unit. Much better than the pics show. Just big and airy with a lot of original charm.
I rarely if ever will go above asking. I hate that entire idea. But I made an exception for this one. And we still didn't get it.
Wow, nice places. You have good taste. If it is much better than the pics, it must be amazing.
Wow, nice places. You have good taste. If it is much better than the pics, it must be amazing.
It was really nice. Sort of tucked away from a very vibrant urban neighborhood in the trees. I still keep an eye on listings in the building even though we are not in DC anymore.
We lost out to a cash offer earlier this year. We offered a few thousand more but the sellers needed a quick close. We haven't found anything that struck us in the same way so we may just stay put and make do with the house we have.
It was listed for $579K. We were willing to go to $585 or $586 and had an escalation built in to that point (I can't exactly recall) but it sold for $587K. We thought people would be scared off by the $951 HOA fee monthly but we underestimated. It was a beautiful unit. Much better than the pics show. Just big and airy with a lot of original charm.
Their escalation clause may have been up to $590-$600K. Or maybe they had stronger financing, more cash, etc. Fortunately we have a realtor that other realtors seem to love to confide in, and she's usually able to get all the details of the winning offer.
We just won a bidding war where the other side had more cash and an escalation clause that went to $1K more than ours, and we won it because we offered well above asking right off the bat, were willing to make up any difference between the appraised value and the sales amount (to a point), and because we were willing to be flexible on the owner leaving some items with the property. The other buyer offered asking, was not willing to pay a penny more if the appraisal was lower than the sale price, and included a form that required the seller to remove all their belongings. Thus our offer won despite them technically bidding more (and escalating to $501K just looks petty). And despite the fact that it wouldn't have cost that much to have the items removed, I got the strong impression it was the 'must remove all items' that swayed the seller more.
In the past though, we've lost mainly to large cash offers. We're well-qualified buyers, and we're willing to be competitive in our market, but when someone just plunks down a duffel bag of cash (and makes it clear there's more where that came from), it's hard for a buyer to turn down a quick, easy transaction. Some of the places had more than 12 bidders, and it usually came to an abrupt end when someone came in with a lot of cash.
There's always another house, and often better. We looked in a vacation area for a decade for a retirement home. Lost three or four by not bidding high enough. But the one we wound up with was better than all the others!
Hmmmmm, getting that house, and getting my spouse, were very similar processes!
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