the wasserblawg

Two days ago, I wrote about the re-emergence of multiple offer transactions. In response, I heard from a number of real estate agents who confirmed that they are encountering this phenomenon. I also have heard from another of others who essentially groaned and who all collectively wished for just one stinking offer , at this point, any offer. They are, almost certainly, still be in the majority - which lead me to states an obvious truth: These days, it (still) is really very hard to find Buyers who are willing to submit a written purchase offer. and perhaps a somewhat less obvious truth: That's just half the battle. Its just as hard (harder?) to get contracts to close. Doubt me on that one? Ask any realtor or real estate lawyer, mortgage broker or loan officer. Ask at the title companies too. They will all likely sigh heavy and confirm it. A great many contract are taken that never close. Even the contracts that can and do close have their problems. These days deals are just a...

Ladies and Gentlemen, mothers, fathers and children of all ages, please direct your attention to the center ring. back from an extended absence, returning to critical acclaim, and the jubilant cheers of its many fans, I GIVE YOU: MULTIPLE OFFERS! I don't have any statistical data to back me up on this one, but in talking to real estate agents over the past couple of weeks, I was pretty taken aback to hear  multiple stories of buyers and sellers finding themselves in multiple offer situations (negotiations in which more than one buyer wants to purchase the same property... bidding wars).  Bidding wars were well known in my practice, and in the larger marketplace during the go-go or boom years. Buyers were so desperate to win a Seller's acceptance that they were paying more than the asking price, and waiving protective contingencies such as inspections, mortgage financing and sale-of-other-property requirements.  I had not, until just recently, seen one in many, many moons. But ...