It's unfortunate, but we have to move and it's just about the worst time historically to be house shopping. Over the past 2 months DW and I have been house hunting and have experienced nothing but frustration and anguish. Many of the houses we looked at were listed at top dollar, but needed substantial work. Most were not maintained and were dirty. And these houses ended up with multiple offers over an already high list price.
But our presistence finally paid off. Last night our offer was accepted!
It's a beautiful well-maintained house in a quiet upscale neighborhood. We are ecstatic. Boy, did we Blow that Dough!
Since our substantial offer on another place was too low, I knew we had to go all out, or look in another state and move away from my son and grandson.
House listed for $520. We submitted a cash offer (with funds documentation from the bank), no contengencies (a home inspector examined the property beforehand and said it was in great shape). The offer used an escalation clause. Because we are so desperate to move we set the cap at $725k, with $5k increments. For example, if the highest offer is $600k, our offer becomes $605k. We got it for $617k.