Offer Submitted | The Waiting

by Osman Parvez
Our first offer for 2018 was submitted last night. It's on a very attractive fresh listing and multiple offers are on the table. Right now, the listing agent is going through the offers and comparing them to each other. Our offer is strong. We've followed up to see if there were any questions or concerns. At this moment, we don't have anything to do but to wait for a response.

It's common that the offer prices will come in very close to each other, which means "soft" factors come into play. If one of the offers is cash, that's usually the winner, but some cash buyers try to low-ball which can sway the deal. Agent reputation definitely matters and we have a very good one in the Boulder real estate community. Many sellers will give up a little cash to offer the house to an end-user instead of an investor, which is why we include a personal note.

After review, the listing agent will almost certainly recommend one of the offers over others, and most likely there will be no counter, just an acceptance. Many of our clients are surprised by this, but it occurs to maintain deal momentum. Protracted negotiations are rare, especially with multiple offers and high volume Realtors. However, if a counter is presented, it will most likely be verbal and we won't have much time to react.

We've advised our clients to sit tight and enjoy the warm weather in Boulder today. We'll be in touch as soon as we hear anything. In the meantime, we can enjoy the late, great Tom Petty.

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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate. 

Please Note

This document contains forward-looking statements. You are strongly cautioned that investment results are subject to business, economic and other uncertainties. There are no guarantees associated with any forecast and the opinions stated here are subject to change at any time. Always consult your financial advisor before making an investment decision.