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The seller went with another offer on the house I was bidding on.

Posted by groiny (aka groiny) May 5 '21, 07:27

I forgot how much this process sucks.

Right now, people are bidding over asking price on most of the houses I am seeing that don't need a ton of fix ups.

Hopefully we find another one that works as well as the one we missed out on.

Responses:

Right now $30K above asking is the table takes for consideration. (In Winnipeg) -- nm* - Name Withheld By Request May 5, 07:43
It's really tough right now. Friend in DC just sold. 6 offers pre-market, 18 offers total within 24 hours of hitting. - MDH May 5, 07:39
This video captures it. -- (link) - Dano May 5, 07:39 [tiktok]
This is the worst possible time to be a buyer. -- nm - kelly May 5, 07:34 7
- other than the great interest rates, yeah -- nm - groiny May 5, 07:35 6
  - I’m talking about availability. -- nm - kelly May 5, 07:36 5
    - it is all connected. There are more people buying because it is a great time. -- nm - groiny May 5, 07:37 4
      - Maybe it’s just this area, but houses here are so scarce that they’re going for $50k over asking. -- nm - kelly May 5, 07:39 3
        
        From what I'm seeing, everything, everywhere, is going way above asking. You have to come with financing done, and no contigencies. -- nm - MDH May 5, 07:41 1
        
        Except in NYC! -- nm - ty97 May 5, 07:42
        
        I am limited to the town I live in because of the school for Evan, and there are 5-6 new listings per week. -- nm - groiny May 5, 07:40
Real Estate is on the upswing. So Id be patient with it. No need to overreach. -- nm - budice May 5, 07:33 1
- for sure. I have a hardline amount I can spend, and that is it. - groiny May 5, 07:34
We're in the same boat, and it suuucks. A realtor told us to make a cash offer for a house. We're...not gonna do that. -- nm - Ear Victim May 5, 07:32 5
- here's how you need to deal with these kinds of negotiations -- (link) - prayformojo May 5, 07:38 [youtube]
- there are plenty of houses in this area, but damn that one was almost perfect. -- nm - groiny May 5, 07:33
- I have this image of people coming to a house showing with suitcases stuffed with 100s. -- nm - Baron Nefcy May 5, 07:33 2
  - it's not totally untrue. -- nm - groiny May 5, 07:33 1
    - "And we'll throw in the suitcase for free. It's a Zegna." -- nm - Baron Nefcy May 5, 07:37
Do you want us to send a hit squad? Don't answer out loud. Just blink if yes. -- nm - Baron Nefcy May 5, 07:29
Damn. :-( -- nm - Krusty May 5, 07:28 2
- I pretty much offered what they were asking for it, not much else I can do. -- nm - groiny May 5, 07:32 1
  - Nope. People are going well over asking and paying cash. You can't compete with that. It sucks. -- nm - Krusty May 5, 07:34

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The seller went with another offer on the house I was bidding on.

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