We got 12-14 offers on House #18. Our FHA 91st day is 11/19 so it was time to decide which client we wanted to work with, or counter offer a group of them.
One of the main things I have learned when selling a property to a entry level buyer, is be PICKY. Sure a lot of people can qualify, but it is an investor job to make escrow go as fast as possible.
Here is my process:
It gets pretty subjective after that. But my three favorite things: some one with lots of cash in the bank, some one who doesn’t want closing costs and a real estate agent that pesters me about their offer. If the real estate agent contacts me so much it annoys me, I know they’re going to hustle to get the deal done! I like it when the agent hustles and I don’t have too.
On this house, we had one offer at list price and the rest of them are all above list price. The highest one was $25,000 above list price. We price properties high on purpose, as high as I think it will appraise at and people are still going over top of that number. This market never ceases to amaze me. It’s sure a great position to be in to have property right now.