As a seller, I’m in a multi bid situation right now, which I’ve never experienced. I have 4 bids, w/ a 5th expected in 2 or 3 hours. In my mind, these are the top 3 bids right now, I’m interested in which one you would go with, list price is $459,900.
Bid 1: FHA Loan, $477,550 offer (comps won’t support this), “as is” addendum which includes the ability for them to back out immediately if they don’t like what the inspection report finds. They have now also set two deadlines for a response even though we stated bids wouldn’t be reviewed until Monday, and honestly this irritates me. Bid 2: Conventional Loan, $459,900 offer, waived right to inspection (will be for informational use only) and will cover up to 10k in any appraisal difference (won’t happen, comps will support ask price). Bid 3: Conventional Loan, $459,900 offer, will waive any/each line item repair estimated at under $500.
I have my choice in mind, but interested in others thoughts.
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source https://www.reddit.com/r/RealEstate/comments/1j0y4ye/which_would_you_choose/
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