(Closed) How many offers did you put in?

posted 6 years ago in Home
  • poll: How many offers did you put in before it was accepted?
    1-3 : (40 votes)
    82 %
    4-6 : (8 votes)
    16 %
    7-9 : (1 votes)
    2 %
    10+ : (0 votes)
  • Post # 3
    Member
    5977 posts
    Bee Keeper

    We were a little different. We put an offer in on a house that was owned by a relocation company. It was grossly underpriced, so we put in our first offer at asking price. We were in a bidding war with 2 other couples and they asked us for our best and final offer, and by the grace of God, we won out!

    I have to say though that we looked at over 100 houses over the course of a year. So it was a long time that we had started and finally settled on our home.

    Good luck on your offer!!!

    Post # 4
    Member
    3671 posts
    Sugar bee
    • Wedding: March 2011

    I haven’t had an offer accepted yet but we’ve put in two offers.  One we were outbid on and we were super devastated about it.  It took pretty much five days from seeing it, to the offer, to the competition, to the decision.  The one currently in has been on the table for a little over a week with really no communication from the seller.  Pretty much with that one we’re giving them until Friday (which is actually longer than our realtor wants to wait) to respond and if they haven’t, we’re withdrawing the offer.  We just want some kind of response (accept it, decline it, counteroffer, something).  So that’s where we are right now. 

    Post # 5
    Member
    5977 posts
    Bee Keeper

    @mandb122: Are you well below asking price? Sometimes sellers are offended by an offer and won’t even respond to it if it’s too low.

    Post # 6
    Member
    3671 posts
    Sugar bee
    • Wedding: March 2011

    @2PeasinaPod:  It’s not the price actually that they have a problem with.  It’s a short sale that’s been on the market for over 400 days.  We’re $3,000 below their last accepted offer ($8,000 below asking which is a lot for our price range but fits with similar properties) but they wanted us to close by February 21 which is way too soon for us (with giving notice of our rental plus allowing the bank to get everything together).

    We wouldn’t even care if they gave us something back but they haven’t even communicated with us at all for like five or so days and our realtor has called them/emailed them a couple of times.  

     

    Post # 7
    Member
    1572 posts
    Bumble bee
    • Wedding: September 2012

    Short sales will take longer. Once the owner accepts the price, then the bank has to accept it because basically the bank is allowing the property to be sold for less than the balance on the mortgage. I’ve seen short sales take weeks, some people say months but I haven’t seen it.

    With our most current home we placed an offer in the spring and it was declined within 24 hours. We waited 6 months and then gave the exact same offer we did the first time and they accepted within hours.

    Good luck, home buying is so exciting but it sucks to have to wait!

    Post # 8
    Member
    5977 posts
    Bee Keeper

    @mandb122: Ah…I find that short sales are anything but short! A few friends have gone through them, and they’ve taken months to even get a response from sellers. Hang in there and hope something comes about for you soon!

    Post # 9
    Member
    2216 posts
    Buzzing bee
    • Wedding: August 2012

    We put in 2 offers.  The first one was really low/below list, but fair, considering what other houses were selling for.  The owner countered with $5000 off list, but there was still too much room between what the owner wanted and what we thought was fair, so we walked away.  That offer took around a week.  Our second offer was accepted a few hours after we put it in; the owners really wanted to sell.

    We looked for houses actively for under a year, so I think the answer to your questions is “it depends.”

    Post # 10
    Member
    6661 posts
    Bee Keeper
    • Wedding: May 2010

    About a year ago, we made an offer on a home and it took the seller a full week to respond to us. We offered full asking price because it was underpriced and there was a lot of competition on it. We entered contract, but it fell through before closing.

    So when we made an offer on our current home this past October, we made it with a stipulation that the seller only had 48 hours to respond or it wasn’t good anymore. They responded the next day with a counter, then we waited a full 24 hours and increased our price slightly, but not to what they were asking for. They accepted immediately and we found out they were in a huge rush to close – so waiting that 24 hours to get back to them worked like a charm. I have to take credit for it, it was my idea to wait while Darling Husband was dying to respond immediately! ๐Ÿ™‚

    Post # 11
    Member
    13099 posts
    Honey Beekeeper
    • Wedding: July 2010

    @mandb122:  Yeah – as some PPs said, short sales can definitely take a lot longer.  My parents bought a vacation home that was a short sale and it literally took 2.5 or 3 months between when they made the offer and it was finally accepted because not only do the sellers have to okay it, but the bank that the mortgage is through must also okay it and the banks don’t often make that call very quickly.

    @DaisyCakes:  Thanks for this thread.  Dh and I are just starting our house hunt so I’ll be watching to see what others who have been through it have to say.

    Post # 12
    Member
    3671 posts
    Sugar bee
    • Wedding: March 2011

    @Mrs.KMM:  We’d be totally fine waiting on the bank but the seller for a couple of days kept asking if we were sure we couldn’t move up the closing date and now they haven’t even contacted us back.  

    Post # 14
    Member
    593 posts
    Busy bee
    • Wedding: October 2011

    We made 8 offers before we got one that stuck.  Ironically enough we are supposed to be in one of the most depressed housing markets in the country – I beg to differ.  3 of our offers we lost in a highest and best situation where the house ultimately went to a cash offer, in most cases 20-40% over asking.  Ridiculous!

    2 offers the seller refused to counter because they were offended by our offer, mind you we never went in less than 15% below asking which is NOT offensive people.  Karma got them, both those houses sold for 30-50K under what we offered.

    We had one offer accepted outright, went through the inspection then the sellers bailed.  That one stung.

    And finally we got our house that we are so thrilled with! ๐Ÿ™‚

    I can be an annoying process – just try to remain rational and level headed!  Dont get carried away with prices and have a realtor that is willing to out you in check if you start getting emotional!

    Post # 16
    Member
    3671 posts
    Sugar bee
    • Wedding: March 2011

    @DaisyCakes:  The waiting is seriously the worst part.  It’s looking like we might get an answer from the seller today though after a week and a half.  

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