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  • January 4, 2008 at 3:17 PM #129499
    SD Realtor
    Participant

    Recordsclerk

    Have your agent simply call the other agent and withdraw the offer. Don’t get to stressed out. You will have the normal contingencies as well that give you a chance to back out.

    It is not a big problem.

    SD Realtor

    January 4, 2008 at 3:43 PM #129542
    recordsclerk
    Participant

    Thanks for everyones comments. I’m working with a relative as my broker and he likes to go by the book. This deal was a bank repo, so I wasn’t sure if I had any way out other then loan contingency. I knew I could get out of the deal, but I just wanted to find a way out without stressing out my broker/relative.
    The funny thing is I made an offer 20K above list and just found out that there were 8 offers (including a cash offer @ list) and I didn’t get the property. There wasn’t even a counter. This is the 4th house in a row that I’ve have been out bidded. This last house had about 90% of what we were looking for so my wife changed her mind. There is still a lot of demand for nice properties at the right price. These homes were about 30-45% off peak pricing. When these homes close/record, these will be the new comp killers for their neighborhoods.

    January 4, 2008 at 3:43 PM #129640
    recordsclerk
    Participant

    Thanks for everyones comments. I’m working with a relative as my broker and he likes to go by the book. This deal was a bank repo, so I wasn’t sure if I had any way out other then loan contingency. I knew I could get out of the deal, but I just wanted to find a way out without stressing out my broker/relative.
    The funny thing is I made an offer 20K above list and just found out that there were 8 offers (including a cash offer @ list) and I didn’t get the property. There wasn’t even a counter. This is the 4th house in a row that I’ve have been out bidded. This last house had about 90% of what we were looking for so my wife changed her mind. There is still a lot of demand for nice properties at the right price. These homes were about 30-45% off peak pricing. When these homes close/record, these will be the new comp killers for their neighborhoods.

    January 4, 2008 at 3:43 PM #129608
    recordsclerk
    Participant

    Thanks for everyones comments. I’m working with a relative as my broker and he likes to go by the book. This deal was a bank repo, so I wasn’t sure if I had any way out other then loan contingency. I knew I could get out of the deal, but I just wanted to find a way out without stressing out my broker/relative.
    The funny thing is I made an offer 20K above list and just found out that there were 8 offers (including a cash offer @ list) and I didn’t get the property. There wasn’t even a counter. This is the 4th house in a row that I’ve have been out bidded. This last house had about 90% of what we were looking for so my wife changed her mind. There is still a lot of demand for nice properties at the right price. These homes were about 30-45% off peak pricing. When these homes close/record, these will be the new comp killers for their neighborhoods.

    January 4, 2008 at 3:43 PM #129366
    recordsclerk
    Participant

    Thanks for everyones comments. I’m working with a relative as my broker and he likes to go by the book. This deal was a bank repo, so I wasn’t sure if I had any way out other then loan contingency. I knew I could get out of the deal, but I just wanted to find a way out without stressing out my broker/relative.
    The funny thing is I made an offer 20K above list and just found out that there were 8 offers (including a cash offer @ list) and I didn’t get the property. There wasn’t even a counter. This is the 4th house in a row that I’ve have been out bidded. This last house had about 90% of what we were looking for so my wife changed her mind. There is still a lot of demand for nice properties at the right price. These homes were about 30-45% off peak pricing. When these homes close/record, these will be the new comp killers for their neighborhoods.

    January 4, 2008 at 3:43 PM #129535
    recordsclerk
    Participant

    Thanks for everyones comments. I’m working with a relative as my broker and he likes to go by the book. This deal was a bank repo, so I wasn’t sure if I had any way out other then loan contingency. I knew I could get out of the deal, but I just wanted to find a way out without stressing out my broker/relative.
    The funny thing is I made an offer 20K above list and just found out that there were 8 offers (including a cash offer @ list) and I didn’t get the property. There wasn’t even a counter. This is the 4th house in a row that I’ve have been out bidded. This last house had about 90% of what we were looking for so my wife changed her mind. There is still a lot of demand for nice properties at the right price. These homes were about 30-45% off peak pricing. When these homes close/record, these will be the new comp killers for their neighborhoods.

    January 4, 2008 at 4:08 PM #129381
    SD Realtor
    Participant

    With an REO it is even better because you will be asked to sign all of the liability release waivers as a condition of acceptance so your refusal to sign those would get you out of any deal as well.

    I am seeing the same sort of activity with REO’s that you are seeing as well. It is hard to imagine this demand will continue but… it is frustrating trying to be a bargain hunter and still maintain a strict discipline. Keep being patient.

    SD Realtor

    January 4, 2008 at 4:08 PM #129654
    SD Realtor
    Participant

    With an REO it is even better because you will be asked to sign all of the liability release waivers as a condition of acceptance so your refusal to sign those would get you out of any deal as well.

    I am seeing the same sort of activity with REO’s that you are seeing as well. It is hard to imagine this demand will continue but… it is frustrating trying to be a bargain hunter and still maintain a strict discipline. Keep being patient.

    SD Realtor

    January 4, 2008 at 4:08 PM #129550
    SD Realtor
    Participant

    With an REO it is even better because you will be asked to sign all of the liability release waivers as a condition of acceptance so your refusal to sign those would get you out of any deal as well.

    I am seeing the same sort of activity with REO’s that you are seeing as well. It is hard to imagine this demand will continue but… it is frustrating trying to be a bargain hunter and still maintain a strict discipline. Keep being patient.

    SD Realtor

    January 4, 2008 at 4:08 PM #129556
    SD Realtor
    Participant

    With an REO it is even better because you will be asked to sign all of the liability release waivers as a condition of acceptance so your refusal to sign those would get you out of any deal as well.

    I am seeing the same sort of activity with REO’s that you are seeing as well. It is hard to imagine this demand will continue but… it is frustrating trying to be a bargain hunter and still maintain a strict discipline. Keep being patient.

    SD Realtor

    January 4, 2008 at 4:08 PM #129623
    SD Realtor
    Participant

    With an REO it is even better because you will be asked to sign all of the liability release waivers as a condition of acceptance so your refusal to sign those would get you out of any deal as well.

    I am seeing the same sort of activity with REO’s that you are seeing as well. It is hard to imagine this demand will continue but… it is frustrating trying to be a bargain hunter and still maintain a strict discipline. Keep being patient.

    SD Realtor

    January 4, 2008 at 5:18 PM #129585
    Jumby
    Participant

    Since you didn’t get it, please share….redfin link please?

    January 4, 2008 at 5:18 PM #129689
    Jumby
    Participant

    Since you didn’t get it, please share….redfin link please?

    January 4, 2008 at 5:18 PM #129658
    Jumby
    Participant

    Since you didn’t get it, please share….redfin link please?

    January 4, 2008 at 5:18 PM #129592
    Jumby
    Participant

    Since you didn’t get it, please share….redfin link please?

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