Multiple Offers Sight Unseen! Perhaps You Should Take a Look First!
I received a call from another REALTOR about a week ago that went something like this:
1. "You wrote a contract on my listing back in November 2009, the deal fell through is your client still interested?" YES I remembered the property there were multiple offers at the time of contract last Fall. I contacted my clients to let them know the property was still available. They decided to submit a new contract.
2. Multiple Offers again! As I was meeting with the clients to write a new offer I had a voicemail message from the listing agent advising there were multiple offers again. If we would have known that we would not have bothered, my clients were not interested in a bidding war. However, after the fact I had already submitted the contract.
3. Your contract is now primary The agent notifies me that my contract is now primary the other offers fell through and Seller has a counter to our offer.
Make Sure You View the Property Before going any further, my clients want to view the property again. After all, it has been nine months since we first saw the property. I go by first to check it out for them and have to prepare them for what they will find.
The Property has deteriorated This is an investor purchase. When we first viewed the property it was neat and showed well. Upon re-inspection it was disgusting. Thank goodness I had my Germ-X with me!
My clients were still interested in the property however our response to the Seller's counter would now be re-negotiated based on the condition. We re-inspected and had a contractor meet us at the property before submitting our response to the Seller's counter.
Investors take note, it is in your best interest to preview homes or at least have your REALTOR take pictures before your write the offer! Never assume the property is in the "same" condition as you viewed it upon initial inspection! I added language in my contract that the property is to be cleaned, swept and ALL personal items and debris removed within 48 hours prior to closing. Even if the seller adheres to the contract and cleans, I have an idea it will need to be blasted again so I am thinking of giving my buyers a Merry Maids gift certificate as a closing gift!
We are "under contract" now and should close next week, its a quick investor cash sale. Because my clients are investors, they are able to look past the filth and will rehab this house however I still may bring my Germ-X to closing!
Comments(12)