Multiple Offers Are Painful
We continue to see multiple offers on appropriately-priced properties. Often, the winning offer is all cash, and/or the contingencies are reduced. Buyers ask us, HOW MUCH over asking price should one offer to be the winning bid? Unfortunately, there is no one-fits-all answer or formula. What we can tell you is, it’s probably going to hurt. What is that crazy-high number you have in mind? Yes, somewhere OVER that number!