We spent all afternoon with the sellers!
Our multiple-offer process is complete.
List price: $1,795,000
Offers, in order of receipt:
Offer #1: $1,850,000
Offer #2: $1,915,000
Offer #3: $1,945,000
Offer #4: $1,929,000
Offer #5: $1,950,000
Every other agent would have recommended that their seller sign the $1,950,000, which is a whopping $155,000 over list price. Who wouldn’t be happy with that?
My thought? We have five strong offers over list. At least one buyer will probably go higher.
Because I know how to properly handle a bidding war, we gave EVERY buyer a chance to submit their highest-and-best offer (unlike the Redfin agent who told me she only counters the serious offers after I submitted an offer that was $250,000 over list).
Guess who won.
That’s right, the $1,850,000 buyer won it with their highest-and-best offer of $2,100,000:
You should list your house with me!
sorry JtR….
a little confused here.
Are you saying offer #1 had a bazooka in their back pocket and blew everyone away with the final offer of $2.1 million…?
$1,850,000 or $1,950,000 won?
$1,850,000 or $1,950,000 won?
JtR thinks bigger than that.
I went around to ALL the bidders again to elicit their best offer.
I sold it for $2,100,000.
Now I have to get it to stick, which is a delicate process in itself.
This should be standard training for getting your real estate license in California. On a side note- I wanted to look at a property in Encinitas that was 4.7 million and the selling realtor got back to me two days later and rudely said we can’t show it to anyone without proof of funds to purchase it. Even though I have more than enough in the bank to pay in full For the house – I was so pissed off I just said screw it
Mrs Dawg reminded me this morning. “6 days, $2.1m. Just like you said.”
It is amazing since that is double what similar houses sell for here.
https://www.zillow.com/homedetails/1111-Rowland-Ave-Camarillo-CA-93010/69036671_zpid/
You should get a job as a soothsayer!
You should list your house with me!
But, but JTR, I don’t want to sell… and besides, I live in another state! 🙂 Congrats on the terrific job for your sellers. (I hope they take you and Donna out to dinner after the closing.) Mrs Dawg reminded me this morning. “6 days, $2.1m. Just like you said.”
Mrs Dawg reminded me this morning. “6 days, $2.1m. Just like you said.”
Not surprised @Rob_Dawg.
Is it a 20% buyer? What if the appraisal does not come in? Do you accept a bid with a lower LTV or
someone that can cough up extra on the down payment? When do appraisals become a factor ? Just curious.
When do appraisals become a factor?
Every buyer waived their appraisal contingency.
Comps don’t matter any more, and, because buyers have been dumbed down for years now, they just check the zestimate and figure, ‘close enough’. They don’t know that the zestimate is revised to the list price once the listing goes active – unless they read this blog!
Waive appraisal contingency. Wow. I must be a dinosaur or don’t have a lot more money to put down. This is insane.
“…we gave EVERY buyer a chance to submit their highest-and-best offer…”
When we were house hunting with Jim and Kayla back in 2017, we lost out on so many houses! All because the seller’s realtor wouldn’t even give us a chance to compete! If sellers only knew how much money they’re leaving on the table going with sub-par representation!
Get good help! Hire Klinge realty!
Thanks Eddie89!! I remember!
Update on Kayla – she sold another one today – and that’s two this month, in the dead of winter!