Reply to Making an offer before the open house

Forum Index » Real Estate

Reply to "Making an offer before the open house "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]We accepted an offer on our TH in 2011 right before the open house.  The Open House went forward because it was too late to cancel.  The realtor told people they would take back up contracts.  We actually accepted just below list because the couple buying had a really clean offer, 1/3 the price of the house for down payment.  We might have gotten list if we had waited, but it was really not worth losing these buyers who were financially solid and had been looking for 3 months for more iffy buyers who may not get financing.  It was honestly a matter of a couple thousand at the VERY most.  We knew the market/comps and so did they.  They did try to offer what a recent neighborhood comp had sold for at first, and we countered with list because we knew that house had not been as updated/in as good shape as ours.  Ours was worth the extra $15K.  They countered again much closer to list, so we were able to make a deal.  The negotiations all took place over about a 12 hour period on Saturday, and we ratified the contract Sunday morning.

It worked in their case because we knew our market and the type of buyers who may be looking at our property.  We did have to do an inspection, but only a couple hundred dollars in small repairs came up - it was to be expected.  They didn't ask for any closing help, which we were happy about - most buyers in our price bracket were asking at that point.

It is very situational, obviously.  It never hurts to try to offer and ask them to cancel the open house, but it will have to be a really strong offer. I'd put your best offer on the table up front.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics