I want this property, how do I get it?
So this property popped up on the MLS the other day and my agent and I went to see it yesterday. I knew it was a sweet deal as soon as we walked through it so we put in a cash offer for full asking price (135K). So few hours later, my agent calls me and tells me the house has 15 showings scheduled this weekend and the seller will make his/her decision Monday. ugh.
Well, I really want this property so my question for you all, is there anything I can do to improve my chances at this point? Any tips or tricks? I was thinking of upping my offer by 2K and hoping no one else goes above asking price..The numbers still are great at this price. Do cash buyers typically go above asking price? Thanks for any help with this..
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- Real Estate Consultant
- Summerlin, NV
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#1 All Forums Contributor
- Real Estate Consultant
- Summerlin, NV
Brian you have a very simple answer here
its called an " Escalator Clause." which is quite common in most HOT markets especially on the west coast were multiple offers were the norm.
I bought a lot a year ago in Charleston and used it and got the deal.. none of the relators had ever heard of it before.
so in that market it was not common knowledge of course there will be realtors that know what it is.
but this does not pigeon hole you to one highest and best..
and you don't spend more money than you have to get the deal..
On this particular block this lot was on there was only 3 vacant lots I had already bought the other two and built the homes out.. so I really wanted the last lot and I got it. using this clause the other folks interested in it just did the ole highest and best and they lost out.
- Jay Hinrichs
- Podcast Guest on Show #222
