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Not sure, but a second offer was accepted as backup and ours rejected. the first buyers have 48 hours to decide if they want out or not since they have a selling clause.
we ended up losing to people that visited right after us. Like they were in the car waiting when we were leaving. we went straight to the office to draw up a full price offer. We didnt lose on price but on moving date. We put down 5 weeks closing but mentionned we were flexible. The other people visiting were with the broker of the firm with which the house was listed, and put in their offer to close in the end of May, when the sellers wanted to move. if i had that information i would have used it, but i didnt and the listing broker obviously did, so they used it to their advantage. ill know next time to put in flexible in our offer. Bummer
just wondering... how did you find out whose offer was accepted to the point that couple behind you got it...?
You lost this house for $10/month.
Think about it.
Your market, at least the neighborhood you want to live, is no longer a buyers' market.
i know...
Quote:
Originally Posted by EngGirl
just wondering... how did you find out whose offer was accepted to the point that couple behind you got it...?
We were told "the people that visited after you are also preparing an offer so we wont be able to respond by your deadline, but you'll have an answer by the end of the day"
We were told "the people that visited after you are also preparing an offer so we wont be able to respond by your deadline, but you'll have an answer by the end of the day"
Maybe too late in this case, but we have found, as sellers of property, when we have a "pre-approved" offer, it certainly makes it much easier to make a decision when multiple offers are on the table, because we KNOW this one is going thru vs "contingent on financing". Have no idea if that was a player in your case, but just sayin as a seller it HAS made a difference in the offer we accepted when multiples were in play.
We were told "the people that visited after you are also preparing an offer so we wont be able to respond by your deadline, but you'll have an answer by the end of the day"
Oh, I guess there were only few people, than it make sense. In our last "bidding war" we had like 10 couples looking at the house the same day we did and we had no clue who and how much offered and whose bid was taken.
Oh, I guess there were only few people, than it make sense. In our last "bidding war" we had like 10 couples looking at the house the same day we did and we had no clue who and how much offered and whose bid was taken.
An aggressive buyers agent can often get that information from a weak or neutral listing agent. I would describe 75% of all agents as "able to be pumped" for information. Which also means that you want a tough agent to list your house - someone who will not succumb to an aggressive buyers agent who wants to know everything.
Not sure, but a second offer was accepted as backup and ours rejected. the first buyers have 48 hours to decide if they want out or not since they have a selling clause.
we ended up losing to people that visited right after us. Like they were in the car waiting when we were leaving. we went straight to the office to draw up a full price offer. We didnt lose on price but on moving date. We put down 5 weeks closing but mentionned we were flexible. The other people visiting were with the broker of the firm with which the house was listed, and put in their offer to close in the end of May, when the sellers wanted to move. if i had that information i would have used it, but i didnt and the listing broker obviously did, so they used it to their advantage. ill know next time to put in flexible in our offer. Bummer
This seems like an odd situation to me, for a few reasons.
First; did you write a full price offer, or one just below list price? Not a huge issue, but one that creates confusion here on the forum.
Second; in my market, an offer would never have been accepted that quickly without, at the very least, some negotiation to try to get a higher price. With three offers coming in so quickly, they would likely have all been told they were competing with others and given a chance to revise their offers. Do you know if this is how it works commonly in your market area?
Third; you lost due to a closing date? Your agent should have asked if there were any details other than price that were important to the seller, and perhaps you would have learned about that. But, even without that knowledge, how different was your 'five weeks" closing from the "end of May?" A quick look at my calendar shows that five weeks from your post was..well, the end of May.
Interest rates have already gone up. 3.1x in December, 3.375 couple of weeks ago and more than that now for well qualified 30 year.
Inflation is hitting and the Federal government in it's infinite wisdom will use that to lower the deficits.
Interest rates will likely top 4% by this time next year.
"Rates" are unchanged over this time period... it costs banks next to nothing to borrow money and this will continue for the foreseeable future - i.e. see Japan as an example.
Five weeks from his post would have been the end of March, give or take.
Damn. I really need to have more coffee before I post.
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