Buyers Are Desperate

Real Estate Agent with The Keyes Company 3195704

Buyers are desperate I can tell because of the strange things that are going on in the market. Here in South Florida we have all seen a buyer put in multiple offers at the same time. well just this week we received two offers before the house was even available for showing! The seller asked if maybe the selling price is too lower? We reassured our customer that we felt the price was accurate , and the early offer will be asking for some kind of discount for what ever reason.

Another story for the books was a REO in Cutler Bay. Before  the closing the Buyer bought appliance and had them delivered to the house. Before we could get the Buyer to remove the appliances  someone stole a kitchen full of appliance. HINT  Why do you think Fannie Mae stopped putting in appliances in the vacant home?  This story could of gotten worst in the past two year we had to deal with squatters about 20 times. At first it was taking about 6 month to get them out.  What if squatter moved in to this same house and when they left they took the appliances?

Lastly I have seen Buyer go in to homes a do repairs so the the lender will approve the loan, or will the lender approve the loan?  These are signs of desperation could this be the bottom and thing will get better from here? I like to know what the rest of you think.

Comments (5)

Michele Connors
The Overton Group, LLC Pitt & Carteret County - Greenville, NC
Your Eastern North Carolina Realtor

Squatters..that one scared me !


Aug 30, 2014 12:11 AM
Chuck Mixon
The Keyes Company - Cutler Bay, FL
Cutler Bay Specialist, GRI, CDPE, BPOR

Michele  - Very common here in South Florida ... Just worried who will clean out the the NEW refrigerator of all the nasty food , if it still there?

Aug 30, 2014 12:23 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

I have been doing mortgages in Florida for many years, there is nothing that surprises me. The stories that you shared have been happening in Florida and other states I do business. It is a crazy world out there.

Make it a great week!

Sep 08, 2014 07:04 AM
Chuck Mixon
The Keyes Company - Cutler Bay, FL
Cutler Bay Specialist, GRI, CDPE, BPOR

Joe  Had something happen last week you may like. We had a house with a roof leak that we had repaired. The process of repair required them to cut a hole in one of the bedroom ceilings to complete the repair. The only other issue we had was a missing tub in the Master Bathroom. The lender required the bedroom ceiling to be repaired before closing. The was not making any repair so this was all don't by the buyer behind our back via access of the lockbox. When we went to remove the keys on the day of closing we were shocked to the hole patch, but the tub still missing. We commented you never know what the banks will want  or required. Then today the bank calls and ask if we ever replaced the tub?  We told them that we were never asked to replace the tub.  How are these loan getting made?

Sep 08, 2014 10:12 AM
Anna Hatridge
R Gilliam Real Estate LLC - Farmington, MO
Missouri Realtor with R Gilliam Real Estate LLC

Chuck, you are not alone in worrying about how desperate people are in today's economy.  As and REO agent I always remind my buyers they do not get possession until after closing, and that means the seller has signed off on funding.  In the event they try to push the issue, I just remind them that the seller can file trespassing charges and then they won't close because they will be in custody.  Works like a charm. 

Now what was your question, oh yes.... when it comes to multiple offers everyone wants to be the winning offer.

Sep 08, 2014 12:50 PM