It’s been my experience that when performing residential appraisals for purchase transactions, about 90% of the brokers will tell me they have (at least) 2 back up offers, all cash – no contingency and higher than the current contract price. Some of these brokers just can’t seem to help themselves. Even if I put on my “do I look that frapping stupid?” face on it doesn’t seem to slow them down.
Fortunately, I don’t give the current contract any more weight than any of the other sales data. It’s not irrelevant to me, but by itself it’s also not a deal maker either.