U
/u/danbigglesworth
Guest
My wife and I just finished attorney review for a property in a HCOL area where most homes get sold with crazy bidding wars. We found a reasonably priced house that the seller decided to not list due to the last time it was listed it fell apart in inspections. It hasn't been re-listed since then as she is in the process of fixing the main issue from inspections (knob and tube getting fully replaced). So we are pretty excited, but I am more paranoid than my wife, it still looks like a decent deal.
We literally sign our contract ending attorney review and get a phone call from our real estate attorney saying "hey, just a heads up, someone put an offer in way over yours. You guys ARE under contract already, so nothing can happen now, but if you decide to really pushback during inspections, the seller may concede way less in an attempt to find a way out of this with you guys."
We haven't done inspections yet and haven't waived anything major, but now seemingly have way less leverage. I have no idea how normal any of this is, it just seems a bit odd to me that LITERALLY 15 minutes after we are under contract, our attorney gets a call from our realtor telling her about this offer. Like if the realtor who represents the new-offer-people got their shit together 20 min earlier they could have cancelled with us with zero penalty or hassle or anything. So now it seems like the seller is out of a majorly better offer and we are just stupid lucky? I'm just way to a paranoid person to think this is luck. My paranoid side thinks that the inspection will be so bad that this is the only way still have us maintain interest. But that would take a lot of lying from a lot of people. So I don't know.
One other thing maybe to note: Our realtor represents the seller and the buyer.
submitted by /u/danbigglesworth
[link] [comments]
Unlisted house gets better offer just as we finish attorney review
Continue reading...
We literally sign our contract ending attorney review and get a phone call from our real estate attorney saying "hey, just a heads up, someone put an offer in way over yours. You guys ARE under contract already, so nothing can happen now, but if you decide to really pushback during inspections, the seller may concede way less in an attempt to find a way out of this with you guys."
We haven't done inspections yet and haven't waived anything major, but now seemingly have way less leverage. I have no idea how normal any of this is, it just seems a bit odd to me that LITERALLY 15 minutes after we are under contract, our attorney gets a call from our realtor telling her about this offer. Like if the realtor who represents the new-offer-people got their shit together 20 min earlier they could have cancelled with us with zero penalty or hassle or anything. So now it seems like the seller is out of a majorly better offer and we are just stupid lucky? I'm just way to a paranoid person to think this is luck. My paranoid side thinks that the inspection will be so bad that this is the only way still have us maintain interest. But that would take a lot of lying from a lot of people. So I don't know.
One other thing maybe to note: Our realtor represents the seller and the buyer.
submitted by /u/danbigglesworth
[link] [comments]
Unlisted house gets better offer just as we finish attorney review
Continue reading...