pb4uski
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
+1. It's an open house... If you don't like the fact that your nosy neighbors can walk through your home then don't have an open house!!!
Home Sale Question
- Thread starter ronin
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+1. It's an open house... If you don't like the fact that your nosy neighbors can walk through your home then don't have an open house!!!
athena53
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A bit of ancient history but from two hot markets in Bergen County, NJ- commuting distance to NYC.
When the Ex and I put the house up for sale in 1997, we had multiple offers over the asking price. Apparently you have to be very careful about appearing to accept one but our realtor was a pro. She went back to the bidders and asked that they each submit a "best and final offer" and we chose from those. No regrets at all- the Ex desperately needed his share of the equity and I wanted to get on with my life.
I bought a smaller place, same town. Put it on the market in 2003 because I was relocating. Another bidding war right after the Open House- I accepted the top offer from a family that actually included a letter introducing themselves, talking about how much they loved the house, and telling me what their kids aspired to be when they grew up. (It was because they had the highest offer). They turned out to be very difficult during the inspection, and backed out. Fortunately, the people who made the second-highest offer still wanted it. (The wife told me later she'd been praying that the first deal would fall through.) They were great to deal with and their inspector not only couldn't find some of the things the previous one found, but noticed termite damage the previous guy missed. It turned out those first buyers had backed out of another house deal before mine.
I agree that you should take advantage of the initial excitement and accept the offer with the best combination of price and contingencies.
On nosy neighbors going through the Open house- been there, done that. Hey, I want to know how mine compares to yours and what that might mean for my market value. I always tell the realtor the truth and don't waste their time.
When the Ex and I put the house up for sale in 1997, we had multiple offers over the asking price. Apparently you have to be very careful about appearing to accept one but our realtor was a pro. She went back to the bidders and asked that they each submit a "best and final offer" and we chose from those. No regrets at all- the Ex desperately needed his share of the equity and I wanted to get on with my life.
I bought a smaller place, same town. Put it on the market in 2003 because I was relocating. Another bidding war right after the Open House- I accepted the top offer from a family that actually included a letter introducing themselves, talking about how much they loved the house, and telling me what their kids aspired to be when they grew up. (It was because they had the highest offer). They turned out to be very difficult during the inspection, and backed out. Fortunately, the people who made the second-highest offer still wanted it. (The wife told me later she'd been praying that the first deal would fall through.) They were great to deal with and their inspector not only couldn't find some of the things the previous one found, but noticed termite damage the previous guy missed. It turned out those first buyers had backed out of another house deal before mine.
I agree that you should take advantage of the initial excitement and accept the offer with the best combination of price and contingencies.
On nosy neighbors going through the Open house- been there, done that. Hey, I want to know how mine compares to yours and what that might mean for my market value. I always tell the realtor the truth and don't waste their time.
Teacher Terry
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We go through open houses if we feel like it. Mainly to compare and see what people are asking but we always tell the realtor we are a neighbor. I don't mind if neighbors come when we have a open house. They could end up telling a friend about it, etc.
OP
OP
ronin
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Accepted the best offer yesterday. It was the last of the "best and final" offers to come in. All in all we had around 10 offers, all at or above asking price. The one we went with was the highest (2.5% above my original selling price, so not a huge mark-up), all cash, no contingencies and willing to buy as-is and wait for us to find our new home and close escrows more or less concurrently (which was our main contingency).
I guess we are lucky. A little unusual property we have here, one acre zoned Agricultural in an Equestrian District in the middle of Los Angeles County. Most of the interested parties are ranchero/caballeros looking for a little slice of the life they love. Good for them, we have that in spades. We can have up to 8 horses here.
On to to the next phase, the house search most intense, to paraphrase Hercules Poirot.
I guess we are lucky. A little unusual property we have here, one acre zoned Agricultural in an Equestrian District in the middle of Los Angeles County. Most of the interested parties are ranchero/caballeros looking for a little slice of the life they love. Good for them, we have that in spades. We can have up to 8 horses here.
On to to the next phase, the house search most intense, to paraphrase Hercules Poirot.
Huston55
Thinks s/he gets paid by the post
Congrats! Looks like a great offer; no contingencies + a little extra pocket change over your first offer. 
W2R
Moderator Emeritus
Congratulations, Ronin!! How terrific to have received so many good offers and to find someone willing to adjust the date for closing like that.
Jack_Pine
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We are on the market now for 3 weeks. Makes the whole retirement process thing seem so real, I leave corp July 1.
No open house yet. We are a little over priced and had one over way low, we rejected. My realtor says she does not do open houses and that she has other realtor do them for her.....
No open house yet. We are a little over priced and had one over way low, we rejected. My realtor says she does not do open houses and that she has other realtor do them for her.....
OP
OP
ronin
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Good luck! I was overpriced by quite a bit according to the recent activity comps that the realtor gathered up to do the pricing. Large lots like mine were sitting 3-6 months at prices $50k less. I guess it was dumb luck for me to round the asking price up to the next $100,000 round number level.
Jack_Pine
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Good for you. We have trouble with the comps. We are a fairly nice house on 5+ wooded acres. They really have a tough time comping the "whole package". We will see what the market does. we can afford to wait awhile.........................kind of.
