Skip to main content

Need Insight: Multiple Offers, No Deals: Is My House Cursed or Just Bad Luck?

Realtors , I could use your input.

I’m selling my house in the Southwest US, listed at $385,000—which is exactly what it recently appraised for. It’s priced right, clean, and ready to go. I had multiple offers in less than 28 days, but here’s how it went down.

4 bailed after we countered: slightly.

2 with full price offers and then asked for $10K+ in closing cost assistance. FHA buyers.

Another agent nixed the deal because they NEEDED the 3% commission to help their buyer with the downpayment.

One buyer looked strong on paper... couldn't secure financing in the end. 7 DAYS BEFORE CLOSING! Conventional buyer who's decided not to look at other loan options and still hasn't produced the loan denial paperwork. So I'm pretty sure they flaked and I'm getting ready to dig my heals in to keep the $10000 deposit.

My agent has been in the game for almost 25 years and hasn't seen buyer/ market behavior like this.

I'm pissed! I'm in full “move out mode.” for 2 weeks. Boxes everywhere. Most of my funiture gone. Closets emptied. House decluttered. I'm halfway out the door. And now everything’s on hold, and I’ve got to backtrack to make it show-ready again.

We just relisted. But I'm not optimistic

I’m relocating and can’t carry two homes—this isn’t a “want to sell,” it’s a need to sell.

My loan is VA assumable, which I’d hoped would be a bonus, but that hasn’t seemed to move the needle.

So here's what I'm asking: Is this just a string of bad luck? Am I missing something? Is buyer quality just this unpredictable right now? Or is there something strategic I can do differently to close this up and move on?

Any insight or creative suggestions would be appreciated.

Thanks in advance.

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

source https://www.reddit.com/r/RealEstate/comments/1krrhxt/need_insight_multiple_offers_no_deals_is_my_house/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more