First Offer on House #17

PA050043Last night, we got an offer faxed to us for House #17.  The offer was about $20,000 under our list price, but the buyer seems very strong, $150,000 down and with conventional financing for about the same amount.  I have not issued a counter yet, I think I will wait until Monday to see if any other offers come in.

I never publish the lock-box combos, so every real estate agent has to email, text or call me to get inside the property.  This gives me a great feel for how many people go to the property.

  • Friday, I got 4-5 phone agent calls.
  • Saturday, I got at least 10 calls, 3 emails and 5-6 text messages.
  • Today, it’s 11am and just one phone call so far.

Judging, by the level of interest, I would expect to have a couple more offers on Monday.  If we don’t I think the property is a bit over priced (which it very well could be).  It is very odd, whenever I list a hot property it seems like we get very little action or offers for the first 5-6 days, after that we get a ton of action.  So I am slowly learning not to get discouraged about not receiving any offers until it has been listed at least 10 days.

I am sure we will have appraisal issues on this property, but that is partly why I like how much cash this buyer has.  If they agree to pay over the appraised value for the property it will eliminate most of my fears.  I’ll let you know what we decide…

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