What Do You Mean Multiple Offers? I Offered Full Price!
In Haralson county, and Carroll county, the real estate markets that I work in, many foreclosure homes are listed at below market prices. They come on the market on Monday and are under contract by Friday. Most times these homes will have multiple offers, and above list price offers.
I wrote a full price offer on a Carrollton, GA foreclosure on Monday. On Tuesday, I received the multiple offer notice. My buyer liked the home, but did not feel that it was worth more than asking price. Needless to say, someone else has that property under contract.
When I shared the news with my buyer, he was very irritated. How could a bank not take his full price offer?
A home is worth what a ready, willing, and able buyer will pay. Sometimes the list price is too low, resulting in multiple offers, Sometimes the list price is too high resulting in no offers.
The only way to find the right house at the right price is to study the listings, and the solds, and to realize that sometimes the list price is not always the right price.