Thursday, April 18, 2013
Rochester Real Estate Seeing Multiple Offers
The last five purchase offers I've written have had competition. And yes, at the first inkling that there will be multiple offers, my heart rate goes up and the adrenaline starts pulsing through my veins and I get giddy with excitement but then the reality sinks in. Multiple offers suck.
There really isn't a win-win with multiple offers. Someone has to lose. And the nice person in me really doesn't like that. But even worse is that often the winner loses as well. They get caught up in a bidding war and there isn't time for a second visit or to sleep on it. In these types of markets, if you have to sleep on it, you probably won't get to sleep in it. And lord knows, I've had to list and sell way too many houses that people bought because they didn't take the time to sleep on it.
Of course the home seller does win. Generally, if there are multiple offers they get their asking price if not more. And so if you are contemplating moving up or moving down or moving across town, this is a very good time and I hope you will give me a call.