A broker from another firm just told a mutual professional acquaintance that he is engaged in two bidding wars. And that acquaintance has a buyer who lost a bidding war with an offer of $200,000 more than the asking price of a $1.7 million property.
In the last day, as well, buyers of mine were unsuccessful in making an all-cash offer $45,000 above the $1.15 million asked for an apartment listed for two weeks. They lost because the sellers felt a moral obligation to honor their commitment to a buyer who also offered all cash, but only at or near the asking price.
What’s more, my buyers’ offer was the second I’ve communicated in a month; the first was from other clients of mine who, thankfully, are now under contract to buy a 1,675-sf co-op elsewhere. Continue reading
I, on Cambodia 