Anonymous wrote:Anonymous wrote:My husband and I have been trying to identify potential sellers of properties that fit our criteria but it feels like a losing battle - we are already getting passed by due to all cash, no contingency offers, with some sight unseen. It's freaking ridiculous out here.
We have an agent but I don't feel like they're doing much of anything to help in these efforts. They said the sent letters to potential property owners but that's it.
No mention of networking, posting online, or anything to help further the cause.
I'm tired of sitting around and waiting because that's all we've done for homes that eventually come on the market. We need to be ahead of the market because once something goes live, we've already lost.
So.. is there something I can be doing to help our odds? I'm so frustrated..
Usually, an "off-market" seller will only respond to an offer that seems like a premium to the market rate, all cash and with few conditions.
I don't understand what the approach would be to someone who isn't actively selling to give you the time of day if you are going to have contingencies and need a mortgage...unless you are offering a decent premium to the seller.
You hear about it all the time at the very high end, where some billionaire has their agent contact sellers and offer a 25%+ premium and they will write them a check tomorrow.
Anonymous wrote:My husband and I have been trying to identify potential sellers of properties that fit our criteria but it feels like a losing battle - we are already getting passed by due to all cash, no contingency offers, with some sight unseen. It's freaking ridiculous out here.
We have an agent but I don't feel like they're doing much of anything to help in these efforts. They said the sent letters to potential property owners but that's it.
No mention of networking, posting online, or anything to help further the cause.
I'm tired of sitting around and waiting because that's all we've done for homes that eventually come on the market. We need to be ahead of the market because once something goes live, we've already lost.
So.. is there something I can be doing to help our odds? I'm so frustrated..
Anonymous wrote:Find a good realtor who works in the area you want to live and has lots of connections to other agents. Seriously.
My realtor showed me several off markets and we ended up purchasing one. I have another friend who just did the same. This was in McLean and Alexandria
Anonymous wrote:Inventory is tight out there. If you could identify sellers ahead of time, what would make your offer more attractive than the all cash/no contingency offer? I don’t think finding sellers early is fixing your problem.
Anonymous wrote:Anonymous wrote:My husband and I have been trying to identify potential sellers of properties that fit our criteria but it feels like a losing battle - we are already getting passed by due to all cash, no contingency offers, with some sight unseen. It's freaking ridiculous out here.
We have an agent but I don't feel like they're doing much of anything to help in these efforts. They said the sent letters to potential property owners but that's it.
No mention of networking, posting online, or anything to help further the cause.
I'm tired of sitting around and waiting because that's all we've done for homes that eventually come on the market. We need to be ahead of the market because once something goes live, we've already lost.
So.. is there something I can be doing to help our odds? I'm so frustrated..
Yes, lower your expectations. Target lower-priced properties than you have been, so that you can bid up higher than the others do. It is less likely you will get "passed by due to all cash, no contingency offers" if your offer is significantly higher.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Not the answer you’re looking for but you need to lower your criteria until your offer is competitive - the market is telling you that you’re currently priced out of your ideal criteria.
Another piece of advice that worked for us at a competitive price point (sub $1M in N Arlington in 2025) is to find a house with something that others can’t live with (“dealbreakers”), but you can live with (and ideally fix down the road so it’s not an issue when you sell).
Agree on the dealbreaker. That’s how we got a great deal in N Arlington. And we renovated before moving in to turn 3 annoying dealbreaker issues into our favorite parts of house.
Sounds expensive. And more of a PITA than most people are willing to deal with.
Anonymous wrote:Anonymous wrote:Not the answer you’re looking for but you need to lower your criteria until your offer is competitive - the market is telling you that you’re currently priced out of your ideal criteria.
Another piece of advice that worked for us at a competitive price point (sub $1M in N Arlington in 2025) is to find a house with something that others can’t live with (“dealbreakers”), but you can live with (and ideally fix down the road so it’s not an issue when you sell).
Agree on the dealbreaker. That’s how we got a great deal in N Arlington. And we renovated before moving in to turn 3 annoying dealbreaker issues into our favorite parts of house.