Verification of “other” offer

[sdduuuude]

I agree w/ the last post – lower it a bit. Then you’ll know.

Also, even thought the other offer is higer doesn’t mean it is better. If you have shorter closing times, are more likely to get funded quickly, etc then you may be on top already and they are just trying to get more money out of you. So – even if they aren’t lying, and you see proof of the other offer, they may be tricking you.

Too many houses out there to give in to this kind of stuff, I think.

[recordsclerk]

As a buyer I have come across many listings with multiple offers, and I have lost my fair share of bids. This is a bank owned property, with this said the bank doesn’t have time to play games. Call their bluff and you will lose. I’m not suggesting that you bid higher, I’m just saying that they are not bluffing. Real Estate agents make money closing deals, not getting them bidded up. Losing potential buyers in this market is insane, so don’t think for one second a listing agent is going to play games with the most important part of their imcome, the buyer. I called “bullshit” many times and lost many times. I even waited for the property to close to see how much I lost by. Sometimes the winning bid falls out of escrow, so there will be a re-bid. You will think that at this time they were bullshitting, but even at re-bid I have lost. If you have done your homework for the segment of the market that you are buying and find a well priced home, many other buyers will feel the same. You should feel good that many people bid on the same property, it will confirm that you know the market well. If you want to pay less for a home then what the current market is offering you are just going to have to wait. Make your bid, and if you really want this house make a higher bid. There are no secret stratigies out there. You will not be able to change the market or make realtors sign letters for future law suits. Try and time the market as good as you can. Buy what you really want and can afford. Some bank properties come on-line at a really good price and will have multiple offers. Some bank owned properties will be overpriced and will have periodic price drops. IF you don’t want to get into a bidding war, you may want to find an overpriced bank owned property and wait for periodic price drops and wait until the 100 day mark and make a low-ball offer. If you are buying a coastal or PUSD property wait until the winter or next year.

[recordsclerk]

As a buyer I have come across many listings with multiple offers, and I have lost my fair share of bids. This is a bank owned property, with this said the bank doesn’t have time to play games. Call their bluff and you will lose. I’m not suggesting that you bid higher, I’m just saying that they are not bluffing. Real Estate agents make money closing deals, not getting them bidded up. Losing potential buyers in this market is insane, so don’t think for one second a listing agent is going to play games with the most important part of their imcome, the buyer. I called “bullshit” many times and lost many times. I even waited for the property to close to see how much I lost by. Sometimes the winning bid falls out of escrow, so there will be a re-bid. You will think that at this time they were bullshitting, but even at re-bid I have lost. If you have done your homework for the segment of the market that you are buying and find a well priced home, many other buyers will feel the same. You should feel good that many people bid on the same property, it will confirm that you know the market well. If you want to pay less for a home then what the current market is offering you are just going to have to wait. Make your bid, and if you really want this house make a higher bid. There are no secret stratigies out there. You will not be able to change the market or make realtors sign letters for future law suits. Try and time the market as good as you can. Buy what you really want and can afford. Some bank properties come on-line at a really good price and will have multiple offers. Some bank owned properties will be overpriced and will have periodic price drops. IF you don’t want to get into a bidding war, you may want to find an overpriced bank owned property and wait for periodic price drops and wait until the 100 day mark and make a low-ball offer. If you are buying a coastal or PUSD property wait until the winter or next year.

[recordsclerk]

As a buyer I have come across many listings with multiple offers, and I have lost my fair share of bids. This is a bank owned property, with this said the bank doesn’t have time to play games. Call their bluff and you will lose. I’m not suggesting that you bid higher, I’m just saying that they are not bluffing. Real Estate agents make money closing deals, not getting them bidded up. Losing potential buyers in this market is insane, so don’t think for one second a listing agent is going to play games with the most important part of their imcome, the buyer. I called “bullshit” many times and lost many times. I even waited for the property to close to see how much I lost by. Sometimes the winning bid falls out of escrow, so there will be a re-bid. You will think that at this time they were bullshitting, but even at re-bid I have lost. If you have done your homework for the segment of the market that you are buying and find a well priced home, many other buyers will feel the same. You should feel good that many people bid on the same property, it will confirm that you know the market well. If you want to pay less for a home then what the current market is offering you are just going to have to wait. Make your bid, and if you really want this house make a higher bid. There are no secret stratigies out there. You will not be able to change the market or make realtors sign letters for future law suits. Try and time the market as good as you can. Buy what you really want and can afford. Some bank properties come on-line at a really good price and will have multiple offers. Some bank owned properties will be overpriced and will have periodic price drops. IF you don’t want to get into a bidding war, you may want to find an overpriced bank owned property and wait for periodic price drops and wait until the 100 day mark and make a low-ball offer. If you are buying a coastal or PUSD property wait until the winter or next year.

[recordsclerk]

As a buyer I have come across many listings with multiple offers, and I have lost my fair share of bids. This is a bank owned property, with this said the bank doesn’t have time to play games. Call their bluff and you will lose. I’m not suggesting that you bid higher, I’m just saying that they are not bluffing. Real Estate agents make money closing deals, not getting them bidded up. Losing potential buyers in this market is insane, so don’t think for one second a listing agent is going to play games with the most important part of their imcome, the buyer. I called “bullshit” many times and lost many times. I even waited for the property to close to see how much I lost by. Sometimes the winning bid falls out of escrow, so there will be a re-bid. You will think that at this time they were bullshitting, but even at re-bid I have lost. If you have done your homework for the segment of the market that you are buying and find a well priced home, many other buyers will feel the same. You should feel good that many people bid on the same property, it will confirm that you know the market well. If you want to pay less for a home then what the current market is offering you are just going to have to wait. Make your bid, and if you really want this house make a higher bid. There are no secret stratigies out there. You will not be able to change the market or make realtors sign letters for future law suits. Try and time the market as good as you can. Buy what you really want and can afford. Some bank properties come on-line at a really good price and will have multiple offers. Some bank owned properties will be overpriced and will have periodic price drops. IF you don’t want to get into a bidding war, you may want to find an overpriced bank owned property and wait for periodic price drops and wait until the 100 day mark and make a low-ball offer. If you are buying a coastal or PUSD property wait until the winter or next year.

[recordsclerk]

As a buyer I have come across many listings with multiple offers, and I have lost my fair share of bids. This is a bank owned property, with this said the bank doesn’t have time to play games. Call their bluff and you will lose. I’m not suggesting that you bid higher, I’m just saying that they are not bluffing. Real Estate agents make money closing deals, not getting them bidded up. Losing potential buyers in this market is insane, so don’t think for one second a listing agent is going to play games with the most important part of their imcome, the buyer. I called “bullshit” many times and lost many times. I even waited for the property to close to see how much I lost by. Sometimes the winning bid falls out of escrow, so there will be a re-bid. You will think that at this time they were bullshitting, but even at re-bid I have lost. If you have done your homework for the segment of the market that you are buying and find a well priced home, many other buyers will feel the same. You should feel good that many people bid on the same property, it will confirm that you know the market well. If you want to pay less for a home then what the current market is offering you are just going to have to wait. Make your bid, and if you really want this house make a higher bid. There are no secret stratigies out there. You will not be able to change the market or make realtors sign letters for future law suits. Try and time the market as good as you can. Buy what you really want and can afford. Some bank properties come on-line at a really good price and will have multiple offers. Some bank owned properties will be overpriced and will have periodic price drops. IF you don’t want to get into a bidding war, you may want to find an overpriced bank owned property and wait for periodic price drops and wait until the 100 day mark and make a low-ball offer. If you are buying a coastal or PUSD property wait until the winter or next year.

[NotCranky]

Why not write ten low ball offers at a time? Put in the offer that this is your highest and best offer and that you are putting in multiple offers and can’t possibly perform on all? The playing field is a lot more level than you think.

[NotCranky]

Why not write ten low ball offers at a time? Put in the offer that this is your highest and best offer and that you are putting in multiple offers and can’t possibly perform on all? The playing field is a lot more level than you think.

[NotCranky]

Why not write ten low ball offers at a time? Put in the offer that this is your highest and best offer and that you are putting in multiple offers and can’t possibly perform on all? The playing field is a lot more level than you think.

[NotCranky]

Why not write ten low ball offers at a time? Put in the offer that this is your highest and best offer and that you are putting in multiple offers and can’t possibly perform on all? The playing field is a lot more level than you think.

[NotCranky]

Why not write ten low ball offers at a time? Put in the offer that this is your highest and best offer and that you are putting in multiple offers and can’t possibly perform on all? The playing field is a lot more level than you think.

[CA renter]

SD Realtor hit the nail on the head. Buying a house is one of the biggest financial transactions of your life. Money matters. Do not get emotional. Let the market come to you (it will!). Never be afraid to walk away from a deal. You might regret it for a while, but chances are you’ll find something better later on.

I also like the idea of submitting another offer even lower than the original offer. Of course, if you **really** like the house, just stick with your prior offer and say that is your “higest and best.”

Rustico’s suggestion (play the game right back) is great. Tell the sellers that you are making multiple offers on different properties. The seller who comes in with the best price & terms is the ONE who will win your bid.

I watched one of those HGTV(?) buy/sell shows a few weeks ago where the seller got two bids in the same day (both under list). Seller asked for “higest and best” and the lower offer dropped out (smart!!!). The higher offer ended up bidding against himself and increased his cost by around $15K, IIRC. Stupid, stupid, stupid!!!!!

NEVER bid blindly. Ask the seller to negotiate face-to-face with the bidders (together) if there are multiple bids. That way, everyone knows who/what they’re bidding against, and the seller can get the best price/terms while the buyers end up making proper bids that are in their own best interests (not bidding against themselves).

Best of luck!!!! 🙂

[CA renter]

SD Realtor hit the nail on the head. Buying a house is one of the biggest financial transactions of your life. Money matters. Do not get emotional. Let the market come to you (it will!). Never be afraid to walk away from a deal. You might regret it for a while, but chances are you’ll find something better later on.

I also like the idea of submitting another offer even lower than the original offer. Of course, if you **really** like the house, just stick with your prior offer and say that is your “higest and best.”

Rustico’s suggestion (play the game right back) is great. Tell the sellers that you are making multiple offers on different properties. The seller who comes in with the best price & terms is the ONE who will win your bid.

I watched one of those HGTV(?) buy/sell shows a few weeks ago where the seller got two bids in the same day (both under list). Seller asked for “higest and best” and the lower offer dropped out (smart!!!). The higher offer ended up bidding against himself and increased his cost by around $15K, IIRC. Stupid, stupid, stupid!!!!!

NEVER bid blindly. Ask the seller to negotiate face-to-face with the bidders (together) if there are multiple bids. That way, everyone knows who/what they’re bidding against, and the seller can get the best price/terms while the buyers end up making proper bids that are in their own best interests (not bidding against themselves).

Best of luck!!!! 🙂

[CA renter]

SD Realtor hit the nail on the head. Buying a house is one of the biggest financial transactions of your life. Money matters. Do not get emotional. Let the market come to you (it will!). Never be afraid to walk away from a deal. You might regret it for a while, but chances are you’ll find something better later on.

I also like the idea of submitting another offer even lower than the original offer. Of course, if you **really** like the house, just stick with your prior offer and say that is your “higest and best.”

Rustico’s suggestion (play the game right back) is great. Tell the sellers that you are making multiple offers on different properties. The seller who comes in with the best price & terms is the ONE who will win your bid.

I watched one of those HGTV(?) buy/sell shows a few weeks ago where the seller got two bids in the same day (both under list). Seller asked for “higest and best” and the lower offer dropped out (smart!!!). The higher offer ended up bidding against himself and increased his cost by around $15K, IIRC. Stupid, stupid, stupid!!!!!

NEVER bid blindly. Ask the seller to negotiate face-to-face with the bidders (together) if there are multiple bids. That way, everyone knows who/what they’re bidding against, and the seller can get the best price/terms while the buyers end up making proper bids that are in their own best interests (not bidding against themselves).

Best of luck!!!! 🙂

[CA renter]

SD Realtor hit the nail on the head. Buying a house is one of the biggest financial transactions of your life. Money matters. Do not get emotional. Let the market come to you (it will!). Never be afraid to walk away from a deal. You might regret it for a while, but chances are you’ll find something better later on.

I also like the idea of submitting another offer even lower than the original offer. Of course, if you **really** like the house, just stick with your prior offer and say that is your “higest and best.”

Rustico’s suggestion (play the game right back) is great. Tell the sellers that you are making multiple offers on different properties. The seller who comes in with the best price & terms is the ONE who will win your bid.

I watched one of those HGTV(?) buy/sell shows a few weeks ago where the seller got two bids in the same day (both under list). Seller asked for “higest and best” and the lower offer dropped out (smart!!!). The higher offer ended up bidding against himself and increased his cost by around $15K, IIRC. Stupid, stupid, stupid!!!!!

NEVER bid blindly. Ask the seller to negotiate face-to-face with the bidders (together) if there are multiple bids. That way, everyone knows who/what they’re bidding against, and the seller can get the best price/terms while the buyers end up making proper bids that are in their own best interests (not bidding against themselves).

Best of luck!!!! 🙂

[Author]

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