Question removed

Asked by Joe, New Hampshire Mon May 26, 2008

This question was removed by its author.

Answers

9
Joe, Home Buyer, New Hampshire
Wed Jun 4, 2008
The offer was not accepted so that house was not for us. We are still searching, looking at one tonight! Thank you all who posted!
0 votes
Dane Hahn, , 34223
Wed Jun 4, 2008
There's always a chance you'll win the bid, even with a lower offer. I have had situations where there were 5 offers, and the house was sold to the buyer with the best terms--not the best price.

The chosen buyer was the one who had a pre-approval letter, and some cash money to put down. Sellers want all the money--but they will listen to their agent regarding the other pitfalls, which include appraisals, home inspections, and efforts to make the house ready. If a buyer will take the house without a home inspection, (or will accept the house as is) that's a huge relief for the seller.

Sometimes the top dollar offer comes with lots of requested extras. (Recently I had a full price offer which included a contingency that the seller remove the wall paper before closing...) the seller rejected that one.

Dane Hahn
Web Reference:  http://www.daneandsandra.com
0 votes
Jed Lane, Agent, Petaluma, CA
Mon May 26, 2008
Joe,
You can't be sure if this is a ploy or not. Since you met the seller have your agent present your offer directly to the seller and be outside to hear the counter if they don't like your original offer.
But remember that sellers can decide who they sell to as long as they don't discriminate against any protected classes
Take any shot you want and say it's your best but if it's not good enough you want the opportunity to know what else the seller wants.
0 votes
Don Tepper, Agent, Burke, VA
Mon May 26, 2008
The other advice below is good. And especially have your agent talk to the other agent to get the real picture.

Your additional comments did make me a bit nervous. "[A]nother offer is being made" and "the sellers agent had said that she was showing this house again." Sounds as if the other offer isn't in hand. That's far, far different from "other offers on the table."

I've heard, just second hand of course, that some agents will say "Another offer is coming in," referring not to the next 24 hours, but at some point in the future. And, yes, you can be reasonably confident that at some point in the next 6 months or year "another offer is coming in."

It really depends on how much you want the house. Jed and Bay's advice is good...if you really want the house and want to avoid any regrets if you fail to acquire it.

Still, check with your agent. Then re-examine how much you want the house. And then act accordingly.

Good luck.
0 votes
Joe, Home Buyer, New Hampshire
Mon May 26, 2008
Buddy,

The sellers agent had mentioned to our Realtor that another offer is being made and to put our best foot forward. The sellers agent had met us at the house prior to our agent arriving and the sellers agent had said that she was showing this house again although our Realtor said no other bookings were made. I'm not aware of the other potential buyers already having the best offer or if the offer was even made yet. This house has been listed for well over a months time.
0 votes
Buddy Pope, Agent, Amherst, NH
Mon May 26, 2008
I would find out if the other party has made their final and best offer yet? Or are you being asked to do this first?
0 votes
Bay Jackson, , Shreveport, LA
Mon May 26, 2008
Joe, this can be a stressful situation for some buyers. Discuss your offer with your agent, offer the price you are willing to pay and remove any unncessary contingencies. If you come through with the highest and best offer you are willing to make and don't leave anything on the table, You will know that you have done your best and won't be left wondering what else you could have done if you lose the property. Be realistic, don't get caught up in the emotions. If was meant to me it will work out. If not, I'm sure there is another house out there for you and your family. Best of luck.
0 votes
Jed Lane, Agent, Petaluma, CA
Mon May 26, 2008
Have your agent ask direct questions to find out how many offers there are. The other agent, if a Realtor, has a duty to respond honestly. Also ask if the seller will counter.
I've been in this situation a number of times and there are many ways to play it. First you need to ask yourself how much do you want this property. To arrive at a price that you are willing to spend I would advise you to think of a number that you will be happy with if you get the property and also if you don't. In other words, if you don't get the property you took the shot at it that you wanted and it would not be worth more to you than that. If you do get the property you need to comfortable with what you paid. This is the best balance point.
That's how you take your best shot. If you want a counter then submit your offer with a counter offer form attached or be outside the door as your agent presents your offer so that you can make the deal happen.
(this inforamtion does not create or imply an agency realationship)
0 votes
Jodie Franci…, Agent, Studio City, CA
Mon May 26, 2008
Hi Joe,

If there are other offers then you need to step up to the plate and come back with your best offer. Discuss the terms and price with your agent, and see what makes sense to you. Sometimes if you can offer better terms, such as a bigger down payment, all cash offer, shorter inspection periods etc, that may help you, even if your offer isn't the highest price. Speak to your agent and see what they can find out about the sellers circumstances and see if there is something you can put in your offer or counter offer that they might find attractive. Also, it might be a good idea to write a letter to the seller telling them why you really want their home, and what you really love about it. Sometimes an emotional appeal will help you win out over other buyers. Without knowing the circumstances, I am just throwing out some ideas that have helped my buyers in the past. Good luck, hope you get the property!

Best regards,

Jodie
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more