ALL THE TIME! And I know they're telling the truth, because if my client doesn't raise the bid, our offer usually does not get accepted, and the property DOES go "under contract!" The prices are low, the values are great, and there are buyers out there snapping them up.
Yes, almost always. Mostly in the price range below $100K which is where investors an make positive cash flow on rental properties. I don't see it happening in the $150K an up range unless the list price finally dips below market value considerably.
I am seeing that all the time. I have one client who is on their 4th offer because we've been in multiple offers several times. We've bid full price and asked for closing cost and got out bid several times. I find that it's happening at various price ranges too.
It is happening more and more often because the banks are pricing the properties below market value. They want to create a bidding situation. If your buyer wants the property, they need to bid over list price in a multiple offer situation. Few buyers are prepared to do that the first time it happens!
Yes, that has happened several time lately. I believe there are a lot of investors out there tying up properties sight unseen as soon as they come on the market if they are even close to the price they want. My buyer who likes to put eyes on it before making an offer hardly stands a chance!
My clients experience that quite a bit. List Rusty there are some times that I wonder if that is really the case or if the asset manage just wants the buyer to sign a multi-offer form. However, a considerable amount of the time my clients do lose out on the bid so I do believe there are many true multiple offer situations out there - on "market" sale properties too!