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    Home Unlabelled How to make your offer more appealing: Winning in Multiple Offer Situations Real Estate

    How to make your offer more appealing: Winning in Multiple Offer Situations Real Estate

    August 11, 2020

    How to make your offer more appealing: Winning in Multiple Offer Situations Real Estate

    How to make your offer more appealing: Winning in Multiple Offer Situations

    Posted: 10 Aug 2020 06:20 PM PDT

    In many markets, mine included, there is a shortage of inventory and homes are flying off the market in a matter of hours, with multiple offers. Homes that previously would have sat on the market for a few weeks, or sold for less than they are today.

    What that means is, it's a great time to sell if you don't also have to buy; or are moving up significantly in price brackets.

    But, if you're a buyer - it's tough out there. People are getting in bidding wars and losing over and over and over, even when going above asking.

    (I'm not talking about investment properties/cash purchases here. I'm talking about owner-occupied residences. Obviously cash is king.)

    So - how can you put yourself in the BEST position to get the house you really want?

    ​

    1. Ask your agent how they present their clients' offers to the listing agents. If they look at you like you have three heads and then say "I email it" - find an agent that knows about the value of communication with other agents. They should be calling the listing agent to present and talk through your offer before sending it. Communication with other agents CAN AND WILL MAKE OR BREAK YOUR CHANCES of getting your offer accepted. There's things that come through a 5-minute phone conversation that just don't translate through a 7-page offer contract. Calling the listing agent to let them know they're sending your offer, asking if there's anything you can put in the offer (more on that later) that will make things easier on the sellers, what kind of closing timeframe the seller needs, stressing that you're approved for more than your offer amount and are a solid buyer and ready to move quickly/maybe have already been through underwriting on another deal that fell through, etc. I had to learn the hard way to ALWAYS let the listing agent know that I was sending an offer - it is not uncommon to have a listing still show as available, but really the sellers accepted the offer the night before and the agent just hasn't changed the status on the MLS. Not to mention - there's a lot of bad agents out there. If your agent is someone who other agents WANT to work with - they know your agent is on top of their shit, will be responsive, respects their time and wants to work together to get the best result possible for both sides - that means something and will sometimes get your offer selected over others.
      1. I'm happy to answer more questions about this one, because this one is huge - I severely underestimated it at the beginning of my career and have seen a huge difference in how my offers have been received since I started really pushing myself to improve on this one.
    2. If at all possible - make your offer not contingent on selling. I know that not everyone can do this - I mean, how many people can afford to pay for two houses at once? BUT - if there is any way possible to buy your new home without having to sell your current one, DO IT. Even if it means putting less down and paying PMI until you sell your current home, or looking into a bridge loan. In my market at least, with a stack of offers on a listing, a selling contingency will immediately get your offer thrown in the trash.
      1. If this is just not possible - Put your house on the market and have it under contract before you offer on a new house. I get that this is not possible for everyone, because what if you can't find a house? You have to have somewhere to live. Refer back to #1 - have your agent negotiate a longer timeframe to close on the sale of your current home, and select an offer that will let you have time to pick a house. Or, Airbnb, stay with relatives, etc. The reason is, if you have to have a selling contingency, but your home is already listed and under contract (and ideally through inspections) - your selling contingency matters much less than if your home isn't even on the market yet.
    3. FHA vs Conventional - If you can get approved for a conventional loan, offers that have conventional financing are greatly preferred by sellers. A couple reasons why - FHA has an additional inspection that usually means an additional "punch list" of items for the sellers to repair. This can be something as minor as chipping paint on a door or a basement staircase without a handrailing. Things that you're ok fixing/updating after you buy the house, because maybe the seller gave you a credit. But FHA doesn't care - they will not fund the loan until they have proof the seller has fixed these things. Additionally, sometimes they will require a second appraisal that they will NOT let the buyers pay for - so that's an additional $500 out of the seller's pocket. If you're wanting (or your budget dictates) a fixer-upper, or something you can put sweat equity into: many of these will not be approved for FHA financing just due to the nature of that kind of property. As a buyer, yes your interest rate will be lower - but that's offset by higher origination and closing costs, and PMI for the life of the loan; rather than it dropping off when you get to 22% LTV.
    4. If you need closing cost assistance - raise your offer by the corresponding amount so the seller nets the same. For example, if a house is listed at $195k, you want to offer 200k but need the seller to pay $3k of your closing costs (due to how much you have saved up to bring to the table) - write your offer for $203k. The seller nets the $200k even though they're giving you concessions, and the difference in your monthly payment is only a few bucks - because you're amortizing that over 30 years.
    5. Waive your appraisal contingency. If you are lucky enough to have over 20% down payment - consider waiving your appraisal contingency. This means that you cannot back out of the contract and retain your earnest money in the case that the property does not appraise for the purchase price. From the seller's POV, this is just one less hoop to jump through to get the contract to close.
    6. Make your earnest money non-refundable. If you're really serious about buying the property, have the ability to evaluate the structure/major systems of the property and are fairly confident that there's no major issues, and are sick of looking - maybe a couple thousand bucks is worth it to you to lock it down and end the search. If losing $2k of your potential down payment sounds catastrophic to you, this is not the option for you.
    7. Grant a few days to a week post-closing occupancy to the sellers. They have to move somewhere - if they can close on the sale of their current home, get the money, then close on their new home in a few days and not have to show up at closing with all of their stuff on a moving truck - knowing they don't have to do that is worth something. In my market at least, there's a standard addendum for this - they have to maintain insurance, pay for utilities, maintain property in current or better condition, etc. This is a HUGE bonus you can write into offers that is zero more money, but makes a huge difference to the sellers in how your offer looks.
    8. Tell the sellers they don't have to clean the house out. This is especially applicable in distressed or estate sales. If it's an older couple downsizing, if it's an estate sale situation (parent has passed away or moved into assisted living and adult kids are helping sell the home), maybe they're moving into an RV to work remotely and travel. If you tell them you can take what they want and leave the rest - this can be HUGE to some sellers, because it would take them time, money and emotional energy to get the house completely empty. Yeah, you will have to spend a week selling stuff on Facebook Marketplace, making trips to Goodwill, and maybe rent a dumpster - but you could also inherit some awesome stuff.
    9. Appliances, washer and dryer especially. Always have your agent ask about these. Maybe their new place comes with a set, maybe they just bought their set and it's way better than the ones where they're moving so they want to take theirs. Either way, have your agent ask the listing agent if it matters to the seller one way or another, and then write the offer accordingly. (This may vary by market).

    ​

    These are just a few of the most common ones I see and use on a regular basis in my market. Hopefully this helps some people house hunting make their offers as strong as possible, because many people fail to realize it is NOT just about the number. Happy to answer any questions. Am licensed Realtor in KY.

    What else ya got?

    submitted by /u/ky_ginger
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    (FL) what happens to your deposit if a new home developer goes bankrupt?

    Posted: 10 Aug 2020 04:49 PM PDT

    I'm a brand new agent and have a client that is buying a new construction home. The client already put down a deposit for the home/lot. The house is scheduled to be built in the first half of next year. Let's say for some unforeseen reason the developer goes bankrupt, what happens to that deposit?

    submitted by /u/Quentin718
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    Coop Board declined Sales without reason, then this happened...

    Posted: 10 Aug 2020 07:59 PM PDT

    My friend owns a coop in NYC and moved out recently. He found a buyer and signed a contract.

    They submitted the package to the board. But the coop board declined the sale, without giving any specific reason.

    Then, one of the board members contacted my friend. He said that one of his relatives is interested to buy, but at a lower price... Like 3.75% lower than the accepted offer that got rejected by the board.

    What can he do?

    submitted by /u/Positivivi
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    Seller’s Market? Or Underpriced Homes?

    Posted: 11 Aug 2020 04:17 AM PDT

    One of the most basic principles in Economics is that price = where the supply curve meets the demand curve. I've read several posts where it is a "seller's market" due to low supply and houses will sell quickly with multiple offers. According to my Econ textbook lower supply (with demand unchanged) means prices should increase. It seems to me that real estate agents might be trying to convince the homeowner to underprice their home to make a quick sale instead of raising prices relative to the supply/demand curve. For example, the difference in agent commission between changing a price 25k is minimal and the real estate agent would much rather "a one day on the market" sale then "one month on the market". However 25K price difference is huge for the home owner.

    In summary, why is it a "seller's market" and not "home prices are going up"?

    submitted by /u/Abigballs
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    Question: Is there any way to prevent a developer from buying a property that I am a renter to?

    Posted: 11 Aug 2020 04:10 AM PDT

    For the last 17 years my family and I have been living in a duplex owned by the landlord upstairs. Recently she has decided to sell the property, and my family and I are freaking out. We are being told that if a developer buys it, we are gonna be kicked out. Is there any way to prevent a developer from buying the property? Please help😭.

    submitted by /u/thebeast613123
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    Should I sell my NYC co-op?

    Posted: 10 Aug 2020 11:52 AM PDT

    Background. It's a studio co-op in a "prestigious" area of Brooklyn. Beautiful neighborhood, lots of outdoor space. I'm confident the neighborhood will always be "nice" but if NYC as a whole goes down, certainly this neighborhood will be affected greatly (it's fairly central).

    I bought it at $410,000 in early 2017, interest rate of 3.25%. Down payment of $160,000.

    I put it on the market and recently received an all-cash offer of $384,000

    I would be selling at a loss, which dissuades me from selling. However, my concern is that other than my retirement, emergency savings, and 11K in the stock market, a good chunk of my assets are tied into this studio. If my studio continues to depreciate with greater WFH adoption/people permanently leaving NYC, I can't imagine being stuck in a tiny studio for who knows how many years...

    Any thoughts?

    submitted by /u/Pandemicwomanstache
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    Advice for first time home buyers (NY/NJ)

    Posted: 10 Aug 2020 02:15 PM PDT

    Hello all.

    My partner (30) and I (28) have been together for 5 and a half years (married for 2.5 years) and are thinking about purchasing a home. We were first aiming to save 20% for a down payment since that's what's recommended but recently came to the realization that it is just unrealistic. We just cannot save 20% for a literal overpriced shoebox in NYC.

    I have been doing lots of research and have found that many have been able to purchase a home without having to put down 20%. At first, I thought an FHA loan was the way to go, but then we wouldn't want to be stuck with a PMI for the lifetime of the mortgage. Based on our income, credit, and savings, it seems like a conventional loan is the way to go. But then there's the down payment situation. I think?

    Here is our info:

    • He has a credit score of 750+ and mine is 806 (we pay our credit cards in full every month and no history of late payments)
    • We have no debt whatsoever.
    • Combined Income of $90,000 (raises coming in the future)
    • So far, we have saved $30,000, and he has $50,000 in his savings
    • He works on Rockefeller Center and I in the East Village (both good full-time, salaried jobs that we're happy with)
    • Our families are willing to help us purchase a home

    Because of our limitations, and how expensive the market is in NYC, we're considering NJ. Specifically Jersey City, Hoboken, Union City, or Weehawken, so we're still close to the city near family. Ideally, we are looking for our forever home, and not a "starter" home since we don't want to be moving around. We're just very ready to settle into a beautiful, quiet neighborhood. We're both over living in NYC. We currently live in north Williamsburg, and it's just so busy and loud all the time (COVID isn't stopping anyone it seems.) The older we've become, the more we seek peace and quiet, and ample space (which we don't really have in our current apartment.) Since we're both used to living with people below and above us, we are completely okay with the possibility of purchasing a townhouse in NJ. Or even proper house if we have the opportunity (we're aware of the price hike and expenses of a townhouse vs a house.)

    We have looked at NYC and NJ real estate, and honestly, NJ seems like a way better fit. More secluded, and MUCH cheaper for double the size of what a home in NYC would be.

    So in your opinion, what are our options? Do you consider us to be good candidates for a conventional loan?

    submitted by /u/-HonestMistake
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    Seller said they would fix replace counter tops before closing, went to check today and I'm completely shocked at the "fix" what can I do. I'm a first time homebuyer.

    Posted: 10 Aug 2020 07:24 PM PDT

    Hey all, I'm a first time home buyer 25 year old male. So I am purchasing this manufacturered home with my girlfriend and in the notes to the seller I mentioned that our counter tops were really poorly done throughout the house and would like them replaced. The kitchen being the worst of the areas with water damage obviously visible on them.

    So today I go to drop off the down payment before closing and to take a walk through of the progress of the repairs I requested. When I walked in the home I was immediately horrified the counters have not been replaced nor fixed but like painted over with this black tar looking stuff. I requested anolium replacements to the seller for her notes. Granted the seller said it was the first coat and still needed a second and its gloss layer done. This will not fix the water damage i pointed out earlier.

    What can I do? Closing is this Saturday and I'm so upset with the counter tops that I'm fuming. Can I tell her this isn't the approach I had in mind or is it too late and now its my problem? Any help or guidance would be much appreciated. Also can supply pictures if needed.

    submitted by /u/RexxN
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    Would you buy a home that needs addition now?

    Posted: 11 Aug 2020 02:55 AM PDT

    Given COVID, the increase in lumber prices, contractor and labor shortages, would you buy a house that needs work at this point in time? Or will I end up with a half finished home where the work takes forever and is twice as expensive as in normal times?

    submitted by /u/wootwootbang
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    REIT vs bond

    Posted: 11 Aug 2020 02:51 AM PDT

    Hey everyone, just looking for a little clarification.

    I am looking at a REIT and they are offering a preferred return of 6% for the first 4 years. Based on my understanding, a preferred return is a sharing of profits, so I would receive up to 6% of my investment from the profits generated.

    But what if there is no profit? I asked this question and was told that the return is guaranteed. Now this doesn't make sense. If the REIT doesn't make money during the year [like now when lessees may not pay], then how is the pref guaranteed? Instead of profit sharing, I'm essentially owning a debt because of the guarantee so its effectively a bond.

    Am I right? Is this essentially a bond paying a coupon under the cover of a REIT paying out a preferred return? Can someone please unravel this?

    submitted by /u/rampagerzz
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    What’s the real story here?

    Posted: 11 Aug 2020 02:34 AM PDT

    We saw a house that we felt would be a good fit for the next year but not beyond so we asked our agent to ask the sellers if they would consider renting. Our fabric responds to us that they're not interested in renting because they are negotiating an offer. 24 hours later, house drops in price which indicates to me that the earlier information might not be true. I learned about the price drop from the seller himself (I posted on an online group looking for houses and he messaged me to tell me about this place not knowing I'd seen it). Does it feel like someone isn't being honest? Maybe the sellers agent lied that they had an offer to drum up interest with us? Or our agent? Note- this is a dual agency listing. Both agents are with both agency. Could that he coming into play? I'm so curious to ask the seller directly about renting now that we have direct contact but this seems like a violation of something.

    submitted by /u/wootwootbang
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    Question Regarding Owner Occupancy - Selling Before One Year

    Posted: 10 Aug 2020 09:20 PM PDT

    For the standard 60 days to move in and must reside there for one year clause almost everything I have found relates to trying to rent the property in less than one year but nothing about trying to sell the home in less than one year. Would I still have to stay for one year prior to selling? Would my lender have to give me permission to sell first? Would I need to meet special circumstances? Any advice is appreciated.

    submitted by /u/beefalobill
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    Duplex refi

    Posted: 10 Aug 2020 09:08 PM PDT

    Need some expert advise. I bought a duplex in 2014 and have significant equity in it, the current interest rate is 5% with a balance of 286k. I got a quote to refi at 3% but with points (7k) and closing cost (4K) and escrow reserve (3k) the new mortgage will be 300k. I plan to hold the property for at-least 5 years, probably even longer, does it make sense to pay the points? Is 4K closing cost normal? Wondering if anyone here refi'ed a duplex recently and what's the best rate you got.

    submitted by /u/brads78
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    Is the market going to switch?

    Posted: 11 Aug 2020 12:53 AM PDT

    Looking for advice on if I should pounce on a house i like or wait. My wife, daughter and I, will be closing on our house at the end of the month. Unfortunately we currently looking to buy in a sellers market. With Covid happening does anyone see it flipping to a buyers market?

    submitted by /u/dekarskec
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    Backed out of lease before contract, wondering if it's okay I put my SSN down on the application.

    Posted: 11 Aug 2020 12:48 AM PDT

    I've put my SSN on tenant applications before, but this is the first time I'm backing out so now it has me wondering.

    The agent and building management seemed reputable as far as suburban commercial real estate firms go. They have a few passionate negative reviews mostly about neglecting maintenance, but there are many more positive reviews. Who knows, always a gamble.

    submitted by /u/Low_Representative_2
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    20k super kitchen

    Posted: 11 Aug 2020 12:07 AM PDT

    Builder offers a 20k upgrade that basically turns the 3rd car garage into a bigger kitchen with more windows, cabinets, and countertops. Also comes with 2 sinks, mud room, bigger pantry and T shaped giant island. We personally like the look of it and think a bigger kitchen would add value to the house. I would love to hear your thoughts on this.

    submitted by /u/dazacr7
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    Question about financing

    Posted: 10 Aug 2020 08:18 PM PDT

    If I apply for a home loan I have read I stay approved between 60 and 90 days.

    Hypothetically if my approval expires and I don't buy a house and the rates haven't changed can I easily be approved for the same rates again assuming my credit is the same except for the previous approval or would being approved previously hurt me?

    submitted by /u/Throwaway3553378666
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    Seller realtor is telling us we can't choose a different mortgage company? Lie/scam?

    Posted: 10 Aug 2020 08:06 PM PDT

    Hello, SO and I are first time home buyers. We did a lot of reading on michaelbluejay.

    We filled out all of the documentation and got pre-approved through Zillow (as recommended by michaelbluejay). We also did Chase and a local CU, both of which rates were ~3.0%.

    We purchased a new construction home that is not going to be ready to close until December. Because of this, the rate that we received cannot be locked. I worry that rates will go up though I'm not sure how much a .25% will really affect us.

    While signing all of the paperwork in the developer/construction management office, they explicitly told us to not look for another mortgage lender because it might screw things up.

    I didn't want to ask how or why, but now I feel cornered. I don't feel like Zillow gave us a good rate (2.6% on a 15 year fixed) and I'd like to get more rates. I am worried that this will have a negative affect on the sale to go against what the seller told us.

    Additionally, if the house isn't set to close in December, and I can't lock in a rate anyways (because most loan officers only do 45-60 days), when should I get started on finding a new mortgage company? September/October?

    submitted by /u/dangqishuangjiang
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    Am I buying too much? Need your expert advice.

    Posted: 10 Aug 2020 10:54 AM PDT

    I have put off buying a home for a long time, renting a 2 bed apt currently at $1300. I live with my partner, no plans for kids, and I have a friend renting with us. I earn 100k, partner earns 30k, and I was able to save up about 160k cash.

    We know we are staying in the area for at least 2 years and it's possible we may move away at that point, so we wanted to find a place we could rent when we leave as an investment.

    We recently went under contract for a home at 529k. Appraisal at 595k (according to seller agent, haven't gotten it done yet on my end). Interest rate 2.875% and APR 2.89% with 2k closing costs. I have a plan to put 105k on it to avoid PMI, which brings me down to 53k in savings.

    The monthly payment will be about $2400 when factoring in PITI and 0.05% expected monthly maintenance, although it's a newer home. Quite a jump from $1300! And that is about 40% my personal take home income. I will have my partner paying $400 while she's in school, but I of course can't plan for that. So yeah, 40%.

    HOWEVER. This should able to be converted into a duplex with about 12k cost (cuts my savings further to 41k). Plan to convert basement into a 1 bedroom apartment that should be worth $800/mo based off the area. Shared utilities (I know) but zoned temperature control and possible sub-meter to make electricity separate, still not sure.

    So once that is rentable, that would make my own personal cost about $1200. The top unit would likely rent for $1700 by my estimation. This would net at least $2500 / mo compared to the $2400.

    I have scripted it out and found that compared to renting, I would personally save 23k over 5 years in this scenario without taking appreciation into account. But is it enough for the added stress? Honestly, it has been incredibly stressful taking this jump, but if it's a sound investment, it's a sound investment right? Am I being a baby or am I pushing myself to my limit?

    submitted by /u/notsureifdying
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    Buy now or wait? (Pittsburgh)

    Posted: 10 Aug 2020 07:37 PM PDT

    I'm trying to figure out whether there is an upside to waiting until the Spring to make any moves in regards to real estate. That move could be buying a house, buying a house and renovating it, or building on land (and buying the land too).

    Currently, we are living in a home I own and have done a lot of renovations to (mostly DIY, all paid out of pocket). It is adequate, but limiting. However, our expenses are extremely low (about a 3.8% DTI ratio) which has allowed us to save a ton of money over the past five years. I would guess that the house is worth about 70% more than I purchased it for, although you'd need to deduct around $30k in materials, subcontractors, and tools if you were calculating profit.

    We're in a good financial situation - could easily borrow up to the max and I have about 150k in savings (outside of my retirement accounts, etc..) so the down payment won't be a big problem. But neither of us are really interested in being in big debt if we can avoid it. We're both frugal and some might even call me parsimonious at times.

    I think if we could do something all-in for around 400k we'd probably be feeling pretty comfortable.

    Ideally, I'd like to build a moderately sized (1600-2k sq ft) passive house with a reasonably sized workshop on the property.

    Where I get stuck is that:

    • This house is pretty good
    • Our financial situation is extremely favorable (around 600/month for mortgage)
    • I hate 99% of what I see on the MLS. Things I do like seem to go contingent in < 3 days.
    • Most of the land for sale right now is big lots that are more than I'd like to spend altogether
    • I'm sure moving during a pandemic is less fun than during normal times.
    • Things seem stable for me, but there were a few furloughs for other folks in my industry this spring.

    So part of me wonders whether it would be smart to simply hold off for now, and wait to see how things play out. I know the interest rates are very low but I also know that there is a bit of an undersupply of houses. I wonder whether it might be the same with land?

    Are there benefits to waiting things out?

    Is it possible that being patient will lead to better outcomes?

    How does one calculate the added value of a passive house compared to a conventional home when thinking about total cost of ownership?

    As someone who can do most renovation work to a good standard, does this shift things in favor of buying and fixing up?

    What if I'm tired of worrying about lead and asbestos?

    submitted by /u/plurplexed
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    My broker says I (the buyer) won't get a copy of the appraiser's report until closing... is that normal?

    Posted: 10 Aug 2020 11:27 AM PDT

    I'm closing on a home in 4 weeks and everything has gone smoothly so far. Inspection is done, purchase & sale signed, etc. No bumps at all, I trust everyone involved in the process, etc.

    My agent told me this morning that the appraisal is happening today (I assume it's the lender's appraiser). He said that we typically won't hear from the appraiser unless there's a problem. Based on all the research I've done, however, I was under the impression that the buyer and seller learn the appraisal value of the home before closing, and that sometimes it's used in further negotiations. So, I asked my agent when I would find out the appraisal amount, and he said that typically the buyer gets the report at closing, but that he could "see" if we could get it sooner.

    Is this normal? If so, then why is everyone always talking about what their home appraised for before they even close on it?

    Edit: to clarify, I'm not wanting the seller to have a copy of the appraisal report. I just said that I had heard that buyers and sellers sometimes re-negotiate pricers if the appraisal is off. I'm just asking whether it's normal for me not to get a copy of the report until closing (which is apparently not normal, based on the replies so far)

    submitted by /u/NewPrivatePractice
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    Sacramento uncertainty first time buyer

    Posted: 10 Aug 2020 07:14 PM PDT

    I know no one can give a definitive answer but I feel there is a mix of things happening in Sacramento that is giving me mixed feelings.

    I think the following things can help first time buyers as long as they are not affected by them.

    State employees got a nearly 10 percent pay cut and Sac has the highest percentage of California state workers.

    Enhanced unemployment is over and nothing has replaced it yet. I know Trump did an executive order but I have read it may not do anything at all or may take a while.

    Lots of people have lost their jobs and have less income or no income meaning they may have to sell their homes or if they were thinking of buying they may not qualify anymore.

    These things may mean more people will have to sell their house increasing the supply lowering home costs and may cut down on buyer competition.

    Things I think hurt first time buyers in Sacramento.

    Bay Area people who are now working from home full time or almost full time are more willing to live in Sacramento since they don't have to commute or commute a lot less.

    Given these forces, do you feel the housing market is going to better or worse for first time buyers? Do you think the prices are just going to go up or do you think they are more likely to come down?

    submitted by /u/Throwaway3553378666
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    Multi-offer situation strategy: over-offer and including appraisal contingency and also appraisal protection?

    Posted: 10 Aug 2020 10:47 PM PDT

    The wife and I lost a recent home that we escalated more than $100k over asking. I have doubts the home will appraise at the price accepted based on a very recent comp 2 doors down. It made me wonder if a strategy to get the winning offer would be to offer a price you know won't appraise, include appraisal protection of say $10k, and still include the appraisal/financing contingency.

    I'm thinking the sticker shock of the offer price will get the seller to accept, when the low appraisal comes back you already said you'd give the seller $10k over. The rest you can negotiate or back out getting earnest money, knowing the seller has spent 20 or more days already in this offer potentially giving you negotiating advantage.

    I understand youd need to have your ducks in a row for financing and be comfortable spending 10k over appraised amount, but in a multi-offer situation would that be enough to win?

    submitted by /u/TheWhiteYeti33
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    What are the best ways to find residential growth patterns for a city?

    Posted: 10 Aug 2020 08:26 AM PDT

    I have a research project where I am asked to find growth patterns for three cities. Up and coming neighborhoods, property, construction, and etc.

    submitted by /u/xxxbadbunny
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