House #8 – Multiple Offers

p31300161Last update I mentioned House #8 had quite a bit of interest.  We have got a lot of non-agent calls off the sign and overall a lot of action on it.  I was surprised we had not received any offers yet.

Friday afternoon, we got a call from an agent that she was faxing in an offer.  One hour later, we have a decent offer (a little bit low), but still about what I was originally anticipating selling it at.  I was out for the evening and she sent the offer in at about 7pm, so I did not get a chance to respond.

I left a message this afternoon with her, to talk about the details and see if we could make a decent counter.  Another agent ended up emailing in an offer.  This offer is very solid, $5,000 earnest money deposit and we would end up netting over our asking price!  The agent mentioned that the client could do FHA or conventional, but obviously, would prefer FHA. This afternoon I called the agent and discussed we could not do FHA until April 28, so let’s pursue the conventional end of the offer.

He is going to work on the final details of the offer.  I think our biggest challenge on this one is going to get a good appraisal on it.  I looked for comps and really cannot find anything in the range of this offer.  The agent mentioned he discussed my concerns with his appraiser and he thinks the number they submitted the offer at was doable.  We will see.

So hopefully, by next week we will have two houses in escrow!   House #6, is moving through escrow pretty solid, but the appraisal came in at $5,000 less than the offer, we renegotiated the amount we would give the client back.

We are no in full force looking for properties anywhere we can find them.  The market is busy, though.

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