DH and I put an offer on a house. We were one of eleven. Six of us are being countered. Ugh. At least it's fewer than last year.
Did you have to compete against multiple offers?
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Oh my gosh! That sounds so stressful. Houses in my area go under contract really quickly (usually within a week). The house we just bought didn't have any other offers. I don't think bidding wars are the norm here. I hope you get it!
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@Pepper: This one went pretty quickly too. There were four offers, including ours, before the open house. So freakin competitive.
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I think there were five, including us? We put a (reasonable) escalation clause in our offer, and there was still one higher offer but apparently something with their financing made the seller nervous so we got it instead. Our house was on the market 8 days when we went under contract...I think things have cooled off a little since then, but good houses in nice areas are still going really fast.
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Holy cow, that's a lot. My area is not competitive, so we were the only offer on the table. that sounds so stressful!
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We got it! There were counter offers to 6 parties, of those 4 put in new higher offers. We had to go $51k over asking with a 5 day inspection but we got it!
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Congrats! One house we offered 10k over and lost; there were 5 other offers. The house we bought we offered full the day it hit the market, were the first offer, demanded a decision by close of business and we got the house!
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Congratulations! Glad it all worked out.
We were actually the first to see the house as soon as it went on the market. We offered asking price with $5k help, and it was accepted before the end of the week when most people had scheduled to see the house.
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none, but we had to put our offer in super fast before someone snatched our house! they accepted our offer, but only in "as-is" condition. it worked out perfect, it was move in ready but really needs updating sooner or later.
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Yay! Congrats!
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None, but we bought when the market was heading down down down... our neighbor paid $100k less than we did. Yikes.
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@Corduroy: wow, that is insane! Where do you live??? And congrats! I hope the inspection goes well!!
Funny you post this -- we saw a home today that we LOVED, we know it is our house --- been looking for a few months now, and we sold our place a few weeks back so we need a new home, like now.... Anyway, place went on the market yesterday. Low offer in already, we put an offer in today, and someone was coming to see it for the third time already!!!! Open house is tomorrow, I wish they would cancel. We basically offered asking, but seller is on vacation and not that available so we have to wait....... Torture! I hope we get it!!!!!!!!!!!
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This is exactly why we do not own a home. We put in offers on several houses and were bought out of all of them. Then we have up.
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Congrats! We didn't compete against anyone. Our house had been on and off the market for several years. The original owners priced it way too high at first.
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We bought in 2010 and we were the only offer. We bought again in 2012 and we were the only offer there too (in fact the process went on for months with offer withdrawals, refusals and negotiations). We came out with our dream house at a great price
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We've been looking for three years. We've offered on eight houses. The most over asking we've offered is $145k. The highest number of other buyers is 21. All cash offers with no inspections.
It's brutal.Congrats on your house!
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@oliviaoblivia: Dear god... That sounds awful!
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@Mrs. Jacks: it really is. We've lost by as little as $1500. It does not make house hunting fun.
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17 comments