Home Buying in Chicago>Question Details

Beverly Floyd, Home Buyer in Olympia Fields, IL

I would like to know why Agent Play Games Vetran wants that house, I'm because the game that the Agent under Baird & Warner is playing, not

Asked by Beverly Floyd, Olympia Fields, IL Fri May 25, 2012

fair. , I'm so very much unhappy also I husband says the same thing, what kind of a game are they playing, that house had been on the market for 300 days, no offer, but as soon as we put in our offer the Agent for that home tell our agent 2 days later there is a contract on the house!!!!!!!!!!!!!!!!!!!!

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Yeah...I imagine there are some games being played out there, but the market really seems to be turning on a dime right now. I have been surprised a few times over the past month or so with offers on long-listed properties being outbid, seemingly out of nowhere. Those properties that didn't seem like deals last fall and winter are starting to look like gems right now.
0 votes Thank Flag Link Sun May 27, 2012
The market in the Chicago area has heated up dramatically. It's easily possible that the home has been sitting for 300 days, and suddenly more than one buyer appears.

You'll be able to tell rather quickly, if the property goes "under contract" and shows up as "contingent" or "pending". If a week or two goes by, it would be worth calling the listing agency and inquiring about what's going on.
0 votes Thank Flag Link Fri May 25, 2012
Alan May, Real Estate Pro in 60201
MVP'08
Contact
I just submitted an offer on a home that had been on the market for 275 days only to find out that they had accepted another offer about 30 minutes prior to our offer. There are no guarantees until all signatures are received.
0 votes Thank Flag Link Fri May 25, 2012
I hate to say it this way, but this market is tough. Timing is everything and the best offers speak the loudest. There could have been an offer the day you saw the home, maybe not. Buyers are in the market now and believe it or not, homes that have been on the market forever are getting sold and sometimes with multiple offers. That is why offers need to be based on how much you want the property and how fair the price is. There is always the risk that someone will outbid you.

Homes that are priced well and are attractive to the market for one reason or another (maybe even needing a lot of work) go fast. Some wait for a while.

It doesn't mean there are games being played. This happens. However, it is not required to disclose multiple offers or even that there are other offers. In most cases, it is a good idea, because you get the best deal for the client, but there are two sides to every coin. Not required at all.

Keep your eye on the property. Sometimes offers don't go through. Put yours in as a back up and keep looking. There is a lot out there. It may sound trite, but maybe this was not the house for you, even though you wanted it to be. Your house may be waiting for you to find it.
0 votes Thank Flag Link Fri May 25, 2012
There are plenty of houses out there, and many of us ready willing and able to help you find the best one for your family.

Get in touch with a good agent and take advantage of historically low rates to get into the right house.
0 votes Thank Flag Link Fri May 25, 2012
You can call IDFPR to complain. The agent should have disclosed the multiple offer situation, allowed you an opportunity for a best and final offer. The market is heating up like the weather, homes that have been sitting on the market will start moving. Best of luck!
0 votes Thank Flag Link Fri May 25, 2012
Sounds odd, but it happens. Just the other week I put a bid on a property with a client that was on the market for 316 days. We were negotiating and sure enough a full price offer (they claim) came in and we didnt get it. It closed for what they claimed for and that was that. The market is on fire now, and a lot of strange things are happening. I would just have your agent stay on top of that property and take it from there. Best of luck.
0 votes Thank Flag Link Fri May 25, 2012
Hi Beverly,

What are you looking for in a house and what area? I have a friend who is looking to sell a 5 bedroom 2 bath house near Beverly for $175,000. The house has been recently rehabbed and has high end finishes. If your interested contact me or if you have any questions. Also feel free to pass along this information if you know of someone that would be interested in this house.

Thanks,
Tony
708-942-7039
0 votes Thank Flag Link Fri May 25, 2012
That is unusual, but your agent can verify once the house closes because the contact info for the agent that had the buyer will show up in the MLS.
0 votes Thank Flag Link Fri May 25, 2012
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