Bid on a house and now one I like more just came on
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Anonymous
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Ugh.
I put a 2 day expiration date on my offer so I guess I'll hear soon. Kind of hoping it falls through, but it could be too late for the other one. This market is brutal. |
Anonymous
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I just sold my place and of the 9 (!!) offers I had to choose from, one had a contingency that they had to get out of another contract. We discarded that one immediately from consideration.
But, the market being the way it is, your offer may not end up being accepted -- which could be a good thing. If you are still seeing houses coming on that you like that much more, maybe you're making too many compromises. It's hard not to do so when it seems like houses are being snapped up left and right. But it's such a big investment, you want to try and something you can really live with. Good luck to you. |
Anonymous
| OP - I wouldn't worry. either your first offer won't be accepted or the other house will be under contract by the end of today. you really have nothing to worry about.... |
Anonymous
So basically I'm screwed either way? Thanks. |
Anonymous
| The one thing about a very hot market is that you have to think differently about each place. You learn to judge each place on its merits. "Can I/do I want to live here?" . If you do, you make an offer. If not, wait until next week. I remember doing that in 2004, and it was strangely liberating. Visit on Saturday, offers accepted by Tuesday, hear back on Wednesday. Repeat. |
Anonymous
| Make the offer on the second that you like better and even if the first accept your initial offer (unlikely) do not ratify the contract by signing it. |
Anonymous
| This puts you in a good position to negotiate firmly on first place. |
Anonymous
| make an offer on the other house right away. It is easy to back out in this market. |
Anonymous
You will lose your deposit on the first one. Happened to my friend in Arlington. |
Anonymous
| You can withdraw your offer anytime before it has been accepted. |
Anonymous
| Withdraw the offer quickly. |
Anonymous
| I'm with 8:39- withdraw the offer quickly, if you can, and have the papers drawn up to submit for the better house. (though i do hope that the first house's sellers have several offers so they're not too disappointed. that would bum me out to lose an offer.) |
Anonymous
| So, the bank accepted my offer, I then signed the paper, now just waiting for the bank to ratify, it's too late to back out now? |
Anonymous
| Are you waiting for a seller to accept your offer? If so, I thought you could back out before they accept. What does the bank have to do with it at this stage? |
Anonymous
| Must be foreclosure sale. Real estate owned. |