Yes, there is crazy madness in the $500K and below market, or certain price ranges depending on which part of the country you are in. And on the buying side, you're probably up against multiple offers most of the time.
Do not let your buyers OR yourself be lazy if they have a real interest in the property. Get that backup offer written! It only takes about 30 minutes to draw up an offer and another 10 minutes to get it signed.
If you get that signed off, then you're guaranteed that price with no negotiation should the first offer fall out.
And we all know FIRST HAND how many escrows fall out!!
Then get it submitted so that you have that brewing at the same time while you're out there shopping again.
It's called MULTI-TASKING!!
why not write a back up offer as long as the buyers think of this as a long shot and continue the search for a suitable property
Ralph,
It is SO hard to convince agents and buyers to write them. I don't get it. I know the odds are low, at least for most of my buyers, that a home will go back on the market, but obviously it happens.
Ralph: Seller's love it when you can get a back up offer on their property and with the loan situation today it's really a good idea.
You're on point again! Congratulatiosn on another featured post at Condo Benefits.
You're right in this marketplace especially in some price ranges. This year, I got some of my clients to get ready and be in position.