We are seeing more and more unusual scenarios with each of our transactions...here are a few real life happenings over the last 3 months...
1. We listed a home in western Anne Arundel County and had 21 offers submitted by other agents. The winning bidder offered almost 19% over the list price AND agreed to pay the sellers transfer taxes and allowed the seller to rent back for free for a month.
2. We have several buyers under contract on
their dream home. The only problem is
the contracts are contingent on the seller finding their home of choice...and their agents told us WE need to find their clients a house!
3. We have a buyer who lost a bidding war to
someone who paid the highest price ever for the neighborhood in cash AND is
rumored to have purchased much of the sellers’ furniture.
4. Our buyer paid cash over list price AND
gave the seller over a month of free rent back and waived all inspections.
had clients that considered an offer on a home in Shipley's Choice that sold in
October 2020 for $625000 that was relisted and sold within 3 months…for
$675000. No observable improvements were
made and it needed a ton of TLC.
listing of ours of had multiple offers and went under contract in a couple
days. Two weeks later we get an appraisal from the buyer’s out of state lender
that was almost 12% below the contract price.
The buyer agreed to change lenders and start over an get a new
buyer of ours used a lender that took almost 6 weeks to get an appraisal done.
Meanwhile a listing of ours closed in exactly 3 weeks with a local lender.
The market is very strong for sellers, but you need experienced professionals to help you market the home for the most offers AND to help you navigate through competing offers with many differing terms. (HINT- Highest price isn't always the best)