So I called the realtor and he said the offer might "slide into the weekend". Wth? Kicking myself for not putting an expiration on the offer. If it's not high enough then decline it or counter. They are definitely wanting to see what the weekend crowd may offer.
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Originally posted by Hobbs View PostSo I called the realtor and he said the offer might "slide into the weekend". Wth? Kicking myself for not putting an expiration on the offer. If it's not high enough then decline it or counter. They are definitely wanting to see what the weekend crowd may offer.
If you really want the house that bad come up with a max amount you can afford and offer it up. If somebody is willing to pay more than you can afford they will. There's nothing you can do about it. If you get outbid then let it go and continue the drag of finding another one.
Try not to get too emotionally attached to something that's not yours is the best advice I can offer.
Good luck.
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Originally posted by Preacher Man View PostSeems like the trick to buying houses these days is to offer way over contract price to get your offer accepted, and then once you are locked into a deal, wait for the appraisal to correct the sales price to market value.
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Originally posted by Hobbs View PostSo I called the realtor and he said the offer might "slide into the weekend". Wth? Kicking myself for not putting an expiration on the offer. If it's not high enough then decline it or counter. They are definitely wanting to see what the weekend crowd may offer.
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Originally posted by JHT View PostSorry to get your thread off track Hobbs.
If you really want the house that bad come up with a max amount you can afford and offer it up. If somebody is willing to pay more than you can afford they will. There's nothing you can do about it. If you get outbid then let it go and continue the drag of finding another one.
Try not to get too emotionally attached to something that's not yours is the best advice I can offer.
Good luck.
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Originally posted by Codie View Postif it is bank owned you are going to be waiting a bit in most cases
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Originally posted by Hobbs View PostYes. It's been through 6 or 7 auctions and only had one bid and that bid didn't meet the reserve price. I figured they would be motivated. If my offer was too low I thought they would just decline it.
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Originally posted by Codie View Postbanks have plenty of money so it takes quite a bit to get them motivated to move a property for less than they "wanted" to get for it at a speed equal to or faster than an individual seller would react. That is my experience from purchasing a couple of repos myself and being a banker myself.
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Originally posted by Hobbs View PostI made a fair offer. Probably could have offered more but I saved a little wiggle room for a counter offer. If they get a better offer that's fine but if I'm close to the price they want then counter my offer and I will be in or out. Just don't like waiting around. Live and learn I guess.
In a 10 year period of property tax increases it can destroy your wiggle room in a hurry.
Or rent a white Dodge van (no windows) tomorrow and use electricians tape to spell out "Free Tickles" on the sides and park it across the street from the house.
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Originally posted by Hobbs View PostSo I called the realtor and he said the offer might "slide into the weekend". Wth? Kicking myself for not putting an expiration on the offer. If it's not high enough then decline it or counter. They are definitely wanting to see what the weekend crowd may offer.
If it were a multiple offer situation you will usually get a notification there is more than one offer and to submit your highest and best by a certain date. That said it is up to the seller or in this case the bank.
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Originally posted by JHT View PostIt sounds like your regurgitating this out of the realtor 101 manual.
Unless its a non arms length sale sellers 99.9% of the time take the highest offer.
What if the offer price is above market/appraisal more than likely?Last edited by ShockValue; 08-16-2018, 02:51 PM.
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Originally posted by JHT View PostI could never work all weekend.
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