in LOVE with a home that has multiple offers – help!

posted 3 years ago in Home
Post # 3
Member
1323 posts
Bumble bee
  • Wedding: September 2012

What else can you do? Well, if you asked for closing costs, you can amend that to buyer will pay all closing costs. Other than that nothing unfortunately…if you already submitted the most you are willing to pay, then that is the most you can do. It is a total crap shoot. You are blindly bidding against people, and you have no clue how much they bid. You can only bid on what you are willing to pay and wait. Other than that, try and wait patiently (I know. Impossible, right ), and look at other houses. I know it feels like when you found “the one” nothing else will do, but you must force yourself. Until you get the keys, the house isn’t yours so try not to fall in love too hard. Good luck, and rest assured that what is meant for you and your husband, can’t ever be taken away. 

Post # 4
Member
348 posts
Helper bee
  • Wedding: September 2012

Are you flexible in terms of your possession date – that’s the only other thing I can think of – if the other buyers have cash too, they may prefer to be in before or after a certain date, but if you’re the most flexible, that might help?  Good luck!!

Post # 5
Member
7281 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

Things you can do to make you the most attractive offer: waive inspections, write a love letter to the seller, indicate 100% flexibility with closing date (i.e. closing at seller’s discretion), add an escalation clause to your offer (e.g. you will offer x%/$ more than the highest offer

Post # 6
Member
13168 posts
Honey Beekeeper
  • Wedding: July 2010

@Bellagiobride:  “You are blindly bidding against people, and you have no clue how much they bid. You can only bid on what you are willing to pay and wait.”

Totally agree!  Best of luck OP!  I hope the seller goes with your offer!

Post # 7
Member
10496 posts
Sugar Beekeeper
  • Wedding: January 2011

Have a good sized deposit ready to go.  Good luck!

Post # 9
Member
3222 posts
Sugar bee
  • Wedding: April 2015

I don’t have any suggests since I haven’t bought a house yet, but I just want to wish you good luck! Putting an offer in seems so nerve wracking.

Post # 10
Member
1822 posts
Buzzing bee
  • Wedding: May 2013 - Pavilion overlooking golf course scenery, reception at banquet hall

@lovekiss:  Re: Waiving the inspection – I would urge anyone to not do this. The house we are buying had at least $30,000 to $40,000 worth of work required that we only learned about because of the inspection: roof needed replaced because of hail damage, jetted tub was cracked and motor broken (needs completely replaced), AC needed new evaporator coil, all windows had seal broken, the wood siding was rotted in several places, there was a cut live wire in the attic (fire hazard!), the insulation was not up to par, there were signs of two sinks leaking…. god knows how much it’d be if there were foundation problems as well.

We were able to negotiate several fixes (new roof, repaired AC, live wire removed) and still got several thousand off our final price. If the house is not meant to be, it’s not meant to be! Don’t risk your finances or your family’s safety just because you love some cabinets or whatever! 🙂

Post # 11
Member
1312 posts
Bumble bee
  • Wedding: March 2015

@aggie2010:  +1.  The only time that you should purchase “as is” is if you’re planning on doing a major overhaul anyway because you’re getting a ridiculous deal due to the condition.

Post # 13
Member
7281 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

@serenitea:  Your agent can write this into your offer. Since you’ve given the agent dual agency, you would need to protect yourself by demanding to see the “highest offer” in writing (in other words, you want to physically inspect to other offer contract) before escalating your offer. Otherwise, as a dual agent, the agent has the incentive to make-up non-existent offers in order to trigger your escalation clause. Ask your Mom for info.

@aggie2010:  I didn’t say any of those were “good” or “bad” ideas. It is up to the buyer to determine the level of risk that she is comfortable with. If she really loves the place and can make a full cash offer on it, it stands to assume that she has the resources necessary to deal with unexpected issues that could arise due to a waived inspection of anything. For example, MH and I waived the seperate chimney and radon inspections on our home in a competitive offer situation because we knew that we had the cash reserves available to deal with any of those issues on the back end of the deal. Waiving those 2 inspections made our offer more attractive to our seller because it was 2 less things that they would possibly have to deal with. Sometimes the buyer has to make strategic decisions about the level of risk he/she assumes.

Post # 15
Member
1259 posts
Bumble bee
  • Wedding: November 1999

I also was going to say do NOT waive an inspection but it looks like you already agree to that.

 

There were multiple offers on the house we bought and the reason why the sellers went with us is because we didn’t have a home to sell first.  Are you selling a home?  Maybe that fact alone can put you in the lead.

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