I tried to put another on a 1/1 in MM recently that was asking around $135k.,..full price cash offer just for kicks…It would have just been so-so as an investment, but what the hell I thought. I think my offer went in day after it was listed or close to that. Anyway, ended up I was the 6th offer…..and that was even before any showing or the open house that was being done that weekend…Yup… Didn’t get a counter or anything (not that I would have entertained any counter above asking there)…
Patience … a lot of games are being played these days. I put an offer on a 1/1 two months ago, 10% below ask. Broker said I had no chance on getting it accepted at below ask. Two weeks ago, I got a call, and it’s now been submitted to the bank for SS approval.
Just because some people throw a cash offers out there doesn’t mean they can (or are even willing) to perform. Quite a few people are putting 10 offers on different short-sold places seeing which one actually gets approved by the bank.[/quote]
10% below ask doesn’t say anything. Maybe asking price was too high. What are the comps? Is it also 10% higher than your accepted offer? Also, just because the seller of a SS accepted your offer doesn’t mean the bank will. Unless you mean they already did their BPO and the bank accepted your 10% below list (assuming list is equal to comps) offer.
I’ve competed with cash offers on SS before and they all have performed. But that’s just my small sample space.
