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Expect that you have one shot, and make the most of it. Like everyone else has said, no one owes you a counter or a request for a higher offer or different terms or any other negotiation.
Don't put yourself in the position of saying, "Dang. I would have paid that," after the other guy gets the house for a price you would have paid.
Chalk this up to a lesson learned.
This! Probably accepted one of the best offers and rejected the others. Most likely there was terms and price in another one the seller went with. When you're selecting from everyone's "best" offer usually you assume that you've got the best offer they'll make. Occassionally we'll counter one. like maybe it's cash or something that rendered anything contingent on financing inferior, to see if they'll match a higher offer. If so we go with that, if not we go back to the financed offer.
I have posted on other C/D forums about how the RE game has changed and buyers and sellers have more tools at their disposal to lessen some reliance on real estate agents. But in a hot market like this, I do believe buyers should listen to the advice of good real estate agents on offer strategies (some are excellent and worth every penny of their commission and more). Experienced agents know first hand the deals that worked and those that didn't, as well as why.
Other way around in my experience. When there are 10+ offers on the table it's good to have an expert help sort the pros and cons of each offer. The highest offer isn't always the best offer.
Other way around in my experience. When there are 10+ offers on the table it's good to have an expert help sort the pros and cons of each offer. The highest offer isn't always the best offer.
Aren't you agreeing that in a hot market, an experienced professional is helpful and necessary?
Aren't you agreeing that in a hot market, an experienced professional is helpful and necessary?
I guess sort of. The first part was about needing less reliance on agents based on all the info available now. The second part of his comment was exclusively geared towards buyers. I was saying that listing agents are more valuable now than ever IMO, even though the perception is the other way around for most folks.
A seller has their house listed for $155K. Multiple (2+) offers and someone offers $162K.
That buyer gets a formal rejection of offer with no counter. Why not counter to try to get a revised offer above the offer they intend to accept. If it's all about cash they could counter with "cash only."
Thanks.
If they counter they are setting a price. Let those that want it keep bidding.
We had an offer recently that stood out so much from the other 12 offers the seller took it on the spot. It was way over asking, a waiver signed for all inspections and apprisal and contengencies, all cash close in 10 days seller can remain there for for up to 20 free, and the deposit was the full offer amount non refunable.
With an offer like that there is no logic in making a counter offer to the other 12 offers and risk tose buyers go somwhere else.
When we speak to the buyer and ask them for some numbers I'll post back and discuss the offers, etc.
Uhhhh.... Howard, are you selling or buying?
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