Denver Real Estate Market - Is there another offer?
In this fast paced Denver real estate market, buyers are having to make quick decisions at times, and this is extremely difficult for the first time home buyers. This is the largest purchase you will make, and the need to “sleep on it” is very common.
At times my buyers ask --- could you let us know if they get an offer? I have the conversation at this point with the buyer, would you rather be in a bidding war, or get the home at your price? One would hope the agents are telling the truth, but have seen where there supposedly was an offer, but funny thing, the home never went under contract. Each buyer reacts differently and make decisions in different timeframes. In this Denver real estate market, currently we are seeing many multiple offers and in very few days/hours after the home hits the market.
I remember one incident a few years ago, this home was out of town a ways, and had been on the market for almost a year. OF COURSE, after our showing, the agent called and told us there was another offer. My buyers thought that was strange timing, and still offered lower than list price. THEY LOST THE BIDDING WAR BY $1,000 and was the home they really wanted.
As a Denver Realtor, I like to tell my buyers --- if you love this home, then write on it. Today's market does not allow for low-ball offers (in most cases), so when you do offer, make it one you can live with. If you don’tlove it, then another home will come along that works better for your needs. This way it doesn’t matter if there is another offer or not.