Monday, January 19, 2009

The first bidding war of the econcomic recovery

After the Christmas trees are left at the curb and the garland is pulled from the banister, people get back to living. Back to buying things like cars, clothes and houses. Some clients of mine seemed to be waiting til just about then to have a look at a few homes that had caught their eye. The homes had been for sale for 4-6 months each and had seen several price reductions. I am going to make this a short story with a simple lesson. Just because a house has been for sale for months does not mean you should take your time. Once you have made a decision, ACT. Our delay, as much my fault as anybody's meant that our offer needed to compete with another. We did not write our offer to compete, we wrote to solicit a counter. We sharpened our pencil, re-submitted, and did get a counter. We got a multiple counter offer, as did another party. We lost the home because in our first offer, the one we did not write with competition in mind, included the washer and dryer. So we keep looking.

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