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Answers (4)
- Stacy Nelson, "StacyNelson"
- Contributions:21
This has been a very competitive buyers market - don't get frustrated. Sometimes you just get lucky and an offer will stick! I just closed on an escrow this week for clients who put an offer on a short sale in April but were put into back up position. We got the call from the listing agent that the sale was approved by the bank but all of the other offers had backed out - lucky break!
As far as bidding up, most of my clients do bid up but we make sure that we run comps on every house to see that the value is there. We don't bid more than the house is worth because yes, we want to make sure the appraisal will go through as well. I'm sure your agent is already doing that for you as well but it doesn't hurt to ask.
Seriously just jeep plugging away - you'll get a home soon enough!
As far as bidding up, most of my clients do bid up but we make sure that we run comps on every house to see that the value is there. We don't bid more than the house is worth because yes, we want to make sure the appraisal will go through as well. I'm sure your agent is already doing that for you as well but it doesn't hurt to ask.
Seriously just jeep plugging away - you'll get a home soon enough!
- Harold Sharpe, "Harold Sharpe"
- Contributions:24
Hello NLOPEZ
As a buyers agent at So Cal Homes Realty, there are many strategies in buying homes in competitive markets. Bidding 20-30k above market is not in anyones best interest. Here is why,... when the listing agent gets the offer they know that your banks appraiser will not apprais the loan to qualify for the property. Thus, it becomes a null offer. Then there is the property types that you are putting offers in on, then there is timing. There are some other things as well. Your agent should be able to get you a home now as things have tappered off a bit. My suggestion is to be persistent and keep trying.
I wish you the very best in your home search.
Harold Sharpe Broker
So Cal Homes Realty
[content removed by moderator for being self-promotional]
As a buyers agent at So Cal Homes Realty, there are many strategies in buying homes in competitive markets. Bidding 20-30k above market is not in anyones best interest. Here is why,... when the listing agent gets the offer they know that your banks appraiser will not apprais the loan to qualify for the property. Thus, it becomes a null offer. Then there is the property types that you are putting offers in on, then there is timing. There are some other things as well. Your agent should be able to get you a home now as things have tappered off a bit. My suggestion is to be persistent and keep trying.
I wish you the very best in your home search.
Harold Sharpe Broker
So Cal Homes Realty
[content removed by moderator for being self-promotional]
- nlopez22821
- Contributions:2
no i offer 20 to 30 thousand more than what they are asking, help in closing cost, close when ever they want 30 days or 45.
- Jason Bonas, "Jason Bonas"
- Contributions:214
Without full knowledge of the situation
are you bidding on bank owned properties and short sales?
are you bidding legitimate amounts or are you trying to lowball every propety you see
are you offering quick closing or do require months until you lease is up
we need more info about the situation...
also
Speak to your agent about ways to make your offer more attractive (closer settlement dates, different terms, etc..)
are you bidding on bank owned properties and short sales?
are you bidding legitimate amounts or are you trying to lowball every propety you see
are you offering quick closing or do require months until you lease is up
we need more info about the situation...
also
Speak to your agent about ways to make your offer more attractive (closer settlement dates, different terms, etc..)
trying to buy a home fha, put offers but no bite, what am i doing wrong
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