Would you write an offer on a Coming Soon listing?
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Anonymous
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If you see a house (no interior photos) but it's in a great location and all the specs seem decent would you risk putting an offer on a Coming Soon listing? Let's say you make an offer above listing, with the right to cancel on inspection?
It would cost you the inspection fee if you don't like it, but you might avoid a bidding war? |
Anonymous
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I doubt the sellers would even entertain your offer. The whole purpose of the "coming soon" listing is to drum up anticipation which translates to all offers being over asking. And then throw in the inspection contingency?
Unless I was a desperate seller, I would wait to see what the market tells me once the house goes active on the MLS. |
Anonymous
| Yes. I would do that if I had some comfort that I understood basics about the house, e.g. common style/layout, and some indication of quality of maintenance by owners (landscaping can be a good hint). The inspection contingency only give you an out though for termite damage, major rot, and major systems. However, you typically you have to give the seller the opportunity to fix those issues. The big risk comes in areas not covered the inspection contingency, like quality of kitchens, baths, floors, layout, etc. |
Anonymous
| Yes, just do it. I sold off market and while I may have made more listing there would have been hassles I was thrilled to avoid. |
Anonymous
| Yeah why not |
Anonymous
| Yes, if it was in a neighborhood I liked and had a nice lot. |
Anonymous
| Sellers almost certainly will not accept the offer. They will (perhaps correctly) take it as a clear indication that they have a very desirable house to sell in a hot market. |
Anonymous
they might if they are doing a ton of work on the house prior to the listing going live |
Anonymous
| Better to do it and get a "no" than to not do it and never know what could have happened. |
Anonymous
| I believe MLS rules are that you can’t do anything while it’s coming soon, not even a showing. So the listing agent may not even accept the offer. |
Anonymous
It depends. If it’s just a sign in a yard and hasn’t been uploaded to MLS, then they can do showings. As soon as it’s uploaded as Coming Soon in MLS, there can be no showings. I think you’re allowed to accept offers at anytime though. |
Anonymous
| We got our current house after we saw a coming soon sign but we essentially just punced the moment it went live - it was a relatively new build so we waived a pre-inspection and put in a full price offer and asked them to cancel the open house that weekend. Lucky for us they clearly were happy to get it done quick and took our offer. Lived here for 5 years now. I get that it is probably harder these days. |
Anonymous
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I assume you mean submit offer without seeing it, because as soon as it is in MLS you can't go see it. That said, listing photos will probably be available before listing, while still coming soon. You can ask your realtor to ask the selling agent for photos. I would have been thrilled to sell my house pre-market.
We also bought recently like this. Submitted offer while coming soon without having seen the house in person. It did have photos though. The offer has to be a good amount above asking to make it worth it for the seller to potentially miss out on multiple offers by going live. |
Anonymous
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Just curious op, where is the house? Mine is currently "coming soon" status.
To answer your question, if it's allowed (not sure of the rules), I would consider it if it's an offer I couldn't refuse. |
Anonymous
Let's be real, maybe one out of a thousand sellers would accept an offer while their home is "Coming Soon." Especially if the buyer is including an inspection contingency. |