Someones going to get bit in the butt..Tax Credit Crunch
I sure hope it's not you and your buyer!
The trend of buyers offers this week is writing multiple offers on more than one home... I personally do not like this approach.
I do know that investors use this tactic a lot BUT this is FIRST TIME HOME-BUYERS doing this.
It is like a buyers feeding frenzy on who will bite to their offer and give them the best deal the quickest. I thought home ownership was about falling in love with a place to call home and having a place to make memories in a location that offers the amenities that they are looking for? Not based on "Oh my gosh I don't want to miss out on the tax credit so I'd better write three offers at once so I don't lose out???"
Come on! It's an $8000 tax credit and they have to live in the house they end up with for a long time and had better love it, where it is and its amenities! Is purchasing a home quickly without thought and care worth $8k?????????
How serious can we take their offer???
I just know that after this is all said and done there's going to be stories and lawsuits of buyers ending up with two homes mutually accepted and some pretty pissed off sellers as well. This to me feels like "straw offers" because they are obviously not really serious on some of the homes if they are tossing them by the wayside and everyone KNOWS that only one seller will sell in the end and the others get tossed. How real of an offer is that?
Is this the right way to advise buyers on purchasing a home???
I fully anticipated this month being a very busy month with the tax credit for first time home-buyers end in sight. Buyers need to get their offers in as soon as possible and accepted so that they can close in time. But this is to me not a very good way to go about it.
It also puts a lot of sellers on edge wondering if the buyers are really serious. This is the 3rd offer in two days that I have received (on seperate listings) where the agents have told me the buyers have made offers on 3 homes at the same time!
Purchasing a home is a very very big financial purchase and should not be based on simply being able to take advantage of an $8k credit.... Am I the ONE THAT IS CRAZY????
Okay - go ahead tell me what you think. I'm ready.
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