The quick answer is incompetence with the banks system. It defies common sense to close on a low offer when there's another willing and able buyer who can close just as quickly with a higher offer. The other answer is because the listing agent thinks it will be less work and the homeowner may think its in their best interest to just let the current offer go forward.
A seller can accept more than one offer and submitting a new offer doesn't have to restart the process.
How do you get them to consider your offer? The seller does not walk with any cash so let them keep as much of value as possible. Include a letter explaining how you are structuring your offer for them and write about you and why you love their house. Make it personal and emotionally engaging.
Pretend you never saw the attractive list price and decide on your own what the property is worth to you. Present evidence, as much as you can, that you are a sure thing on financing. Don't worry about what the listing agent tells you, just make sure he/she presents your offer in its entirety because they have to by law.
This works. I recently submitted an offer on a short sale that had an offer and a backup offer ahead of us. Our offer was $15,000 over the list price. The seller accepted our offer, it went ahead of the others and we got it. It appraised $5000 over my clients offer price and he would have been just as happy if it appraised at offer because it was the right house for his family and he got it. Thats how you do it, best of luck to you Chavo in your home search
Equity Real Estate