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Need Advice: Found dream home before it came on the market, put in a strong offer on the premise they wouldn’t list, sellers still decide to put on the market.

The market is absolutely brutal right now. Every house we’ve bid on have multiple offers and we’ve lost going above ask every single time (4 offers lost). Our agent heard of a listing that was coming on from another agent in her office. We went to go see it while the photographer was taking pictures and it checks a lot of our boxes: great layout, a “wow” factor kitchen, spacious master bedroom.

The seller’s agent said if the offer was right, they wouldn’t put it on the market. This is great for us to avoid a multiple offer situation. We took a look at the comps (the house still needs bathroom, flooring, and window updates). And they’re pricing it the same as completely updated houses in better school districts. We love the house so we put in an offer 10k over ask (~2%), agreed to a 30 day lease back at no charge, our realtor dropped their commission by 1%, and we waived appraisal contingency if it appraised at least above ask. That’s a strong offer in my book.

Well as it turns out the seller is figuring fuck it, might as well put it on the market for the weekend and use our offer to bid up other potential buyers. They’re giving us the opportunity to match the highest offer they get. Unfortunately we have almost no leverage here. They know we’re thirsty for the house. At this point we’re just hoping no one bids a huge amount on the house. After this, we’re probably going to give up and continue renting into 2021 :(

submitted by /u/The_Hindu_Hammer
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source https://www.reddit.com/r/RealEstate/comments/i0xl8c/need_advice_found_dream_home_before_it_came_on/
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