Monday, June 15, 2009

24 Offers...Ouch!

That is a lot of offers even for a “priced to sell” deal for $12,500…but that is not what I am talking about.

This single family home was not the bargain of a lifetime….it was nicely priced at $236,000 in East Orlando….and my buyer offered a whopping $280,000 and STILL did not get the property.

Yes, I am serious. Buyers are out there buying and the competition is tough…fierce in fact. This was my clients 3rd offer on a property that went to someone else…

Last month I had a buyer who made 4 cash offers above full price and still was not the winning bidder. He almost got one, but the deal went to another buyer who waived all contingencies; they did not even want to do inspections…not a smart thing in my opinion…what if the house was built with the Chinese drywall and now your house will continually smell like rotten eggs…yuk!

Keep the inspection clause in the contract and expect to make offers on more than one property.