Pricing Real Estate
When my DH retired and we moved to our forever home, we listed with a sharp young agent who saturated the other local realtors' emails with info about our condo. She scheduled one weekend--Saturday and Sunday afternoon--for an open house with the understanding that we would be accepting offers the following Tuesday. By Tuesday we had 6 offers, all but one well above asking price. One was so far above asking, we were concerned the property would not appraise for that figure because no similar unit in our building had sold for anywhere near that amount. The high bidding buyers offered an addendum to their offer insuring that they would pay any amount over the appraisal out of pocket, along with proof of funds, so the extravagant amount they offered was what we got. (As if turned out, their interest was in the number of our unit. They were a young Chinese couple and our address ended in 8--the luckiest of lucky numbers!)
Another thing that seems to be happening in some markets is the "value-added" offer. In this scenario, a buyer offers to beat any other legitimate offer by X amount. Also look for buyers willing to forego inspections since none of you siblings are living in the property and may not know all the bad things an inspection might find.
Good luck!
