Multiple offers normally
happen when the seller is the Secretary of Veterans Affairs. VA wants all
parties to know that there are other interested parties making bids on the
property (usually bids come in very low). Well I was showing a house that the listing
agent normally sells VA home. The listing agent told me she already had an
offer on the house but she wasn’t presenting anything until Monday (this was
Saturday). So we submitted an offer a
few hundred over the price. The agent came back Monday and said to submit the
best and highest offer.
I just couldn’t believe
that. I mean it wasn’t a VA house and we submitted a good offer with a quick
closing. I just never in all my years dealt with anything like this from a
regular seller. The agent said her
owner wanted to test the market because it only been on the market for 5 days.
So my clients started thinking maybe the agent was trying to raise the price or
might be working for the other buyers after speaking with their family members.
Needless to say we loss
the bid, because we went the other direction with the bid a thousand dollars
and better. My clients were suspicious of the entire deal.
How do other agents
handle multiple offers?
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