Saturday, March 3, 2012

What happens when a listing appears to be a great deal

I have noticed this happening throughout my career but it just happened to me and I noticed it happened to a few other listings on the MLS in the past few months. A home hits the market at a great price and we get multiple offers. Everyone wants what others want so offers are written in haste and the buyer gets cold feet. Unfortunately in the next few days it is reactivated because the buyer wants out of the deal. I am not sure what the reasons are and I would guess they vary from buyer to buyer. One guess I have is that buyers don't feel as good about the purchase when they feel rushed. Also there may be circumstances they didn't take into consideration because of the hurried situation. Another lesson you can take from this story is if you were one of the offers that did not get the deal ask your agent to inform the listing agent that your offer stands for the next few days. You may still wind up with the property. Listing homes on the low end does create interest and offers. In most of these cases the homes resold again very quickly. When looking in the spring market as a buyer you need to be prepared for a quick purchase. Some of the prices do seem like excellent values. If you have been looking for a long time and you see one of these "great buys" don't second guess yourself. You have a 5 day attorney approval and a home inspection. During that time you can calmly access your purchase and determine if you have bought a home in a condition you can live with. The really good homes or the really good deals will most likely sell quick right now. Get out there and see what is available in your price range so you are ready when the right home comes along! If you need a buyer's agent call me. If you want to sell your home this year-call me! If you just want to talk about real estate-call me! Linda at 708-334-5356

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