Two offers first day on market

LoriFLAAugust 26, 2012

Two solid offers first day on market. Let them expire. We are looking and cannot find anything. Low inventory in our desired location. Moving to new school zone in one town over. Not moving to new school district, just zone. Regretting decision to list. Cannot find anything and the stuff that is out there is expensive and need repairs/upgrades. I keep comparing to my house. Seriously considering paying the penalty and breaking the contract and sending my kids to "bad" schools.

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cearbhaill

If I was one of the people making those offers I might feel as if I had been toyed with.
To finally find a home you want and to put in an offer?
Imagine their excitement and joy and then.... nothing.
Not even the courtesy of a response?

You need to decide what you are going to do.

    Bookmark   August 26, 2012 at 8:42PM
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azzalea

Wouldn't it make sense to keep the home you love and pay the tuition and transportation expenses to send the kids to the school you like? Selling, moving, repairing, redecorating a new house is expensve, so it might make sense to go the tuition route. And you may get reimbursed for the transportation expenses by the state. I knew a woman who chose to send her kids to private school in another town,a nd the state paid her something like $150/week to drive them herself. Worth looking into.

    Bookmark   August 26, 2012 at 8:58PM
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terriks

What penalty would you pay? I don't know of any RE broker that charges a seller for taking their house off the market. Just tell them that you have realized that you aren't ready to sell right now. Sounds like you have more homework to do.

    Bookmark   August 26, 2012 at 9:43PM
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greendesigns_gw

If a seller has received a full price offer and rejected it, they can owe the full commission to the REA anyway. It depends on how the contract is structured. But that is not an uncommon inclusion in the contract. If you received a less than full price offer, consider yourself lucky that you know that now and pull the home off of the market while you make up your mind. Also, if you received two offers the first day, then you left money on the table and priced it too low.

    Bookmark   August 27, 2012 at 8:17PM
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ncrealestateguy

"Also, if you received two offers the first day, then you left money on the table and priced it too low."

OR, the buyers just happened to be at the right place at the right time. It happens and does not necessarily mean the home was priced too low.

    Bookmark   August 28, 2012 at 7:22AM
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LoriFLA

Priced at 147. Comps showed that was fair price. Not 100% sure, though. We probably could have went higher since real estate picking up in our county. M*L*S is 534879 in Florida. We are out. Had good intentions but second thoughts after we saw what was on market in our desired location. Not much out there. We had excellent agent. She did her best for us but the rest of our life was on the line and we couldn't go through with it. I think if we found the right property it would have gone well but the inventory is very low. Maybe we didn't give it enough time but we are happy with our decision to stay put right now. Received two offers, not for full asking.

    Bookmark   August 28, 2012 at 12:51PM
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ncrealestateguy

If you can not find a nice property that fits your needs now, then you made the right decision to stay put. Housing inventory is as high now as it has been probably in your lifetime.

    Bookmark   August 31, 2012 at 8:11AM
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cmarlin20

The OP is in FL so maybe the inventory is high in that area, but in my area of Southern California, it is low. Many people are not listing, good ones go fast but many on the market are dogs, so they sit. So not much really, many are now rentals if one can afford to rent out, they do that for a few years.

    Bookmark   August 31, 2012 at 10:48PM
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