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PSA : Buyers don't encourage for counters

Just to give context, This is currently happening in the bay area market. House prices are insane, interest rates are higher and increasing and yet listing price is at all time highs. With this situation, buyers are offering average another 10% over list.

Both the selling and listing agent says highest and best offer, so you as a buyer are making an extreme stretch and bringing everything possible for that house to the table.

Now sellers have this preset mindset to go back for counters. Regardless of the number of offers they have this preset in their mind to go for counters to extract every little bit from the already disadvantaged buyer.

From my experiences (in past 2 weeks talking to realtors) what I observed is, " you are just bidding against you". The person who stood first in the 1st round is still the 1st after counter. He has just overpaid $100k more on top of the 10% premium. What everyone else who didn't get the house have now done is, they have made their next house expensive by 100k.

Sellers are ridiculously set on squeezing every penny from the sellers and also making it more unaffordable for the folks who lost out.

Can we all collectively agree to not respond to counters and just hold by our first offers.Please....

submitted by /u/bulkyHogan
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/s8dd8f/psa_buyers_dont_encourage_for_counters/
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