Reply to SPRING MARKET!! What's the vibe?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Realtor here. Buyer activity is very high in Alexandria, Arlington, Falls Church, Springfield and Vienna. My last listing in Alexandria (FFX County) had 10 offers and went almost $100K over list, no contingencies and my clients got a free 2-month rent back. I wrote an offer for buyers for a home in Springfield last weekend and was beat out by another offer. There were 9 in total. My clients went $125K over list, waived all contingencies and offered a free rent-back. Both homes were in the $800K-1 million price point. I would also add that 30 percent of pending listings currently in my office were exclusive listings so they never even hit the mls. I have 2 buyers under contract in the $1.3m range and both those listings were private exclusive listings with Compass.[/quote]

What is meant by getting rent back?? [/quote]

It's just like it sounds.  The original sellers are able to rent back the property from the new buyers.  In the above case, it sounds like the buyers offered the "rent back" for free which is a benefit to the sellers.  Hope that helps.[/quote]

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