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Reply to "Making an offer before the open house "
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[quote=Anonymous]I think it depends completely on the market. We recently sold our house in a desirable DC neighborhood; it was listed under $800K. Went on market on a Thursday morning, and we had 6-8 visits before Sunday open house. Got a call on Saturday night from our agent saying a buyer wanted to know what our price was to not have the open house the next day. We had an idea--about 5% above asking--but she advised against taking an offer that late, saying it would be risky to try to ratify in time to cancel the OH. Also said she expected big interest at OH. We ended up with four offers, selling for almost 10% above asking. Guess what I'm saying is: Whether and when you make a pre-OH offer and what you offer really depends on where your market is right now. If you're going to do it, I'd recommend sooner rather than later; it takes time and focus to ratify a contract, and most sellers aren't going to want to do it with less than 24 hours notice.[/quote]
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