Just offer more!

By
Real Estate Agent with Atlanta Communities 303302

The hysteria about low inventory of homes continues. There are definitely more buyers than sellers in the market at the moment. This has caused new listings to be bombarded with multiple offers. Most over list price.

I have had buyers that have become so desperate to buy that they are throwing caution to the wind and offering many thousands more than list price. This is all well and good until the appraiser arrives.

Along with the crazy offers on homes comes appraisals that are coming in below price. This causes the buyer and seller to renegotiate on the price, or if the seller won't budge the buyers have to pony up extra cash or lose out on the purchase.

So before you decide to offer the world on a new home, consult with your agent to determine the risk of a low appraisal.

Posted by

Peter den Boer, Associate Broker, Realtor

Atlanta Communities Real estate Brokerage

 

Ph. 770.713.1545

www.denboerhomes.com

 

I write about daily life as a Realtor in the Towne Lake Community in Woodstock Georgia.

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Rainmaker
3,746,975
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Peter. If you are prepared to walk on thin ice, consult a professional about the chances of success. Enjoy your day!

Oct 05, 2020 05:51 AM #1
Rainmaker
3,764,842
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Peter - tossing things into the wind can have some detrimental impact. 

Oct 05, 2020 06:55 AM #2
Rainmaker
5,049,274
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Peter,

I think that somethimes those who are caught up in this type of situation lose any sense of rationality.  Hopefully their agent can prevail on their common sense.  A

Oct 05, 2020 07:47 AM #3
Rainmaker
2,278,729
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Peter den Boer - so true.  Are these buyers prepared to pony up?  Many are not.

Oct 06, 2020 04:50 AM #4
Rainmaker
6,028,728
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is good information to share with prospective home buyers.

Take care, be safe and have a great day.

Oct 09, 2020 09:06 AM #5
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Peter den Boer

MBA,GRI, Associate Broker, Realtor
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