Sometimes An Offer Is So Strong A Seller Will Not Wait For Other Imminent Offers


Sometimes An Offer Is So Strong A Seller Will Not Wait For Other Imminent Offers
By Scott Rogers • October 24, 2024
Wahoo! An exciting new listing just hit the market. You are excited to go see it and will definitely consider making an offer. You know it will likely be a popular listing, with the potential for multiple offers, but you have already been pre-approved for your mortgage, you are going to see the house on the first day it is on the market, and you will likely make an offer on the second day that it is on the market. That should be enough, right? Well, maybe. Sometimes, an offer shows up that is strong enough to cause a seller to adjust how they were otherwise planning to receive and consider offers. If an offer comes in on the fictional house above on the afternoon of the first day that it is on the market... that is above asking price, cash, without an inspection, with a closing to take place in 20 days, with the seller able to rent back for free for up to three months... 1. Who could blame the seller for going ahead and accepting this very (very!) strong offer. 2. Who could blame buyers if they are disappointed when they find out on the second morning that the house is on the market that they are too late to submit an offer. So... 1. Buyers - Be willing to make a strong offer, quickly, if you want to try to get the seller to respond before considering other offers. 2. Also, Buyers - Know that an early offer from a motivated buyer might very quickly eliminate your opportunity to compete to buy a house that you really like - so, make an offer just as quickly as you are ready to do so. Receive Updates by Email Recent Articles: Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer We Will Likely See Fewer New Listings Over The Next Few Months
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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