Went in 2% over asking on a house in La Mesa. Was turnkey and well done. The comps came back and we settled at an offer that felt competitive, but on the higher end. Competing offers came in another 3% above ours. And that was before any counters.
With the price trajectory there seems to be quite a bit of risk with appraisal contingencies. The competing offers waived them and I couldn’t stomach it. I couldn’t bridge the gap on $40k of additional downpayment if the appraisal came in quite a bit lower than the settled price.
We’re disappointed. Especially with the state of inventory. But we have another 4ish months to find something.
Also, that $850k clairemont house that was used as an example on one of the first replies sold above $1M, btw.
