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04-14-2009, 01:25 PM #1
Renter
- Join Date
- Apr 2009
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- 1
Blind bidding advice
This weekend, my husband and I saw a condo that we both absolutely love. The condo is a foreclosure, which we had been trying to avoid just because banks have been taking forever when it comes to closing them, and we want to buy soon. But because we really believe this is the house for us, we
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If you do decide to raise your offer, do so only after talking with your agent about what recently sold comparable properties have sold for.
It is better to not get a property than it is to overpay for it. Only your agent can advise you as to what is a reasonable price for this property. It does not matter how much you like it, there is no reason to overpay for it.
It is very unlikely the listing agent is bluffing about other offers. You could walk and then they are stuck with no buyer. The risk is not worth the reward for the listing agent.
If you liked the property enough to make a full price offer, why is it surprising that some one else also put in an offer? The timing may seem suspicious, but if it is that good a property, it is not surprising it is in a multiple offer situation.Mark Brian Silver Star Real Estate
Upstate South Carolina Real Estate
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04-15-2009, 06:05 AM #3
Moderator
- Join Date
- Sep 2007
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- Outer Banks
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- 1,281
I agree. If you want this property do your homework and don't offer more then it will appraise for.
These foreclosure deals are bringing multiple offers.Your Outer Banks real estate agent. Learn how to buy Outer Banks foreclosures.
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