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gowhatyourself t1_ja87xco wrote

You're either getting catfished if they're going for that much over or something about the way your offers are constructed is off. Are you covering the gap in sales price vs contract price in cash?

edit: Not sure why this is being downvoted when it's the reality of the market right now.


[deleted] t1_ja88ako wrote



gowhatyourself t1_ja88r0q wrote

If the listings are priced artificially low (Which is most definitely happening here if you are looking outside of the city and losing) then you're going to need to cover that whole spread. When I am reviewing contracts with my sellers an offer 50k over doesn't mean shit if the buyer can't make up the difference should an appraisal come in low.

It's often more advantageous to go with a lower offer that will cover the whole thing if that number comes in just a bit above comparable properties. You really don't want a seller going wild for the higher offer only to have the appraisal come in low and the seller making out with less money than they would have.

I'm guessing it's a combination of both things here. Artificially low price and not adequately covering the gap.

edit: I should expand on something that gets missed often. When listing agents list low they're doing two things: One making themselves look like fucking heroes because they got "over list", and two they're baiting out people who do have the cash to put into the deal and weed out people who will rely more on financing. This doesn't mean you or anyone else are losing to all cash buyers, just people who can put more skin in the game. Both of these things are incredibly common and dumb and really only serve the listing agent on the deal and not necessarily buyers or sellers.


[deleted] t1_ja8gyaz wrote



gowhatyourself t1_ja8i18c wrote

Hey I'm right there with you. I've worked with a lot of people in your situation the last few years and it fuckin blows.


jodyhighrola t1_ja93kv6 wrote

✋🏻 with a little luck and compromise we did it though. (finds haunted burial site in crawl space, sacrifices s/o)


Charlesinrichmond t1_ja89ucr wrote

THIS! Though I could argue it benefits sellers


gowhatyourself t1_ja8cic0 wrote

You could argue a lot of things Charles that's your hidden talent.


Charlesinrichmond t1_ja8k6ry wrote

I mean it's literally part of the law school curriculum... you get graded on it

but it's a gentle way of saying I disagree with you in some circumstances, and it can be good for sellers


Beccaroni7 t1_ja957x7 wrote

Commenter isn’t wrong. I recently purchased and went through the same process. List price was not getting you a house-we had to put at least 10-20k over to even stand a chance.

On the few that returned comments to us (they did this after we started including offer letters), they all said we were beat out by cash offers they just couldn’t refuse.