Is it common for ppl to put in offers on ‘coming soon’ properties?

[Anonymous]

I recently learned that you can do this. It seems like there is no downside to doing this, as you can always back out after inspection. Is this a tactic a lot of potential buyers are using right now, to attempt to avoid having to compete?

[Anonymous]

It is happening but there are still downsides. Sellers need an incentive so you have to offer above ask and still no contingencies.

Technically you cannot your a house that is coming soon so the offer is also site unseen

[Anonymous]

Well you can’t see what it looks like.

[Anonymous]

We tried, sellers said no thanks, tried again the day it went on the market and it sold to a cash buyer.

[Anonymous]

Anonymous wrote:Well you can’t see what it looks like.

A lot of times, if the house has changed hands in the recent past, you can see photos from past listings of it

[Anonymous]

Coming soon offers are sight unseen, but since you can see the house during the inspection and back out I’d you don’t like it, if you think you offered too much, etc, there seems to be little downside to doing this in my opinion.

[Anonymous]

We bought a ‘coming soon’ house. And we saw it before putting in the offer. It is a popular neighborhood so some homes never get listed at all. So we jumped on it.

[Anonymous]

Anonymous wrote:We bought a ‘coming soon’ house. And we saw it before putting in the offer. It is a popular neighborhood so some homes never get listed at all. So we jumped on it.

If you walked through it when it was “coming soon”, you realtor could get in big trouble with their license.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We bought a ‘coming soon’ house. And we saw it before putting in the offer. It is a popular neighborhood so some homes never get listed at all. So we jumped on it.

If you walked through it when it was “coming soon”, you realtor could get in big trouble with their license.

We called the realtor who was going to list it and he showed it to us. While a cleaning crew was there. They were getting ready to take photos I think.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We bought a ‘coming soon’ house. And we saw it before putting in the offer. It is a popular neighborhood so some homes never get listed at all. So we jumped on it.

If you walked through it when it was “coming soon”, you realtor could get in big trouble with their license.

We sold a house last year and our house was to go live on a Thursday after being on coming soon a week. Someone from out of town asked our realtor to let them in early because they were flying from across the country and only had that one day to look. My realtor allowed them to tour it. We still had an open house and showings, but they ultimately had the best offer.

[Anonymous]

I would not accept a sight unseen offer for any price that allowed the buyer to back out upon inspection. It’s like granting someone a free option.

RE agents aren’t allowed to show a coming soon house. I don’t give AF about MLS rules as the non-agent owner. Find my email or phone number via Google if my agent says no and you’re in a situation (travel, job, etc) where the coming soon period is the only time one or both spouses can see the property. I’ll let you in. Worth trying.

[Anonymous]

We sold our last house this way. Our realtor listed as "coming soon" as we were busy painting, cleaning, and getting landscaping done. Their realtor begged ours to let them see it early and then offered us over our asking price with no contingencies if we cancelled the open house and took their offer. We were already under contract on our current house and eager to get the house sold ASAP. Our realtor advised us we couldn't technically accept until it actually hit the market for at least a day? So, we verbally accepted and then officially went under contract a few days later. Maybe some people think it's foolish as we could have gotten more offers (and more $$$) if we let it become active, but we knew these buyers were serious and we were eager to move on ASAP. Worked out great.

[Anonymous]

Nobody in their right mind is going to accept an off the market offer with an inspection contingency. So, if you make a coming soon offer without seeing the house, you have no way of backing out. Huge risk.

[Anonymous]

Anonymous wrote:Coming soon offers are sight unseen, but since you can see the house during the inspection and back out I’d you don’t like it, if you think you offered too much, etc, there seems to be little downside to doing this in my opinion.

If your offer gets accepted with an inspection contingency you mean. If you're looking in the DC area, very few houses are being sold with inspection contingencies.

[Anonymous]

Anonymous wrote:Nobody in their right mind is going to accept an off the market offer with an inspection contingency. So, if you make a coming soon offer without seeing the house, you have no way of backing out. Huge risk.

This. We had an offer in hand and were getting ready to sign the contract and last minute a buyer popped up and wanted to buy it at over asking, sight unseen. We had our realtor tell that buyer that the only way we were doing that was if they waived the inspection contingency. They walked away, because they just wanted a free shot at it knowing they could walk away after inspection. We just wanted to unload our house, so the prospect of an extra 25k was not enough to tank the sure thing offer from people who saw the house and knew they wanted it.