Tag Archives: multiple offers

Buyer pre-sale inspections can cause trouble

By Don Dunning | August 18, 2013

“What gets us into trouble is not what we don’t know. It’s what we know for sure that just ain’t so.”
– Mark Twain

The current seller’s market has led to numerous properties receiving multiple offers. In an attempt to beat the crowd and gain an accepted bid, there has been a recent epidemic, in some parts of the Bay Area, of buyer pre-sale inspections, often without the seller’s knowledge or permission.

The theory is that the buyer can write a cleaner, more appealing, contract for the seller because of the omission of an inspection contingency. There is much more to the story.

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Today’s seller’s market is creating future victims: An Insider’s Look at Multiple Offers

By Don Dunning | April 5, 2013

“Common sense is the most fairly distributed thing in the world, for each one thinks he is so well-endowed with it that even those who are hardest to satisfy in all other matters are not in the habit of desiring more of it than they already have.”
– Rene Descartes

It is no secret that a shortage of inventory, combined with historically low interest rates, has led to a market where, in certain areas and price ranges, multiple offers are the norm. Recently, I wrote about the dangers of contracts without contingencies.

There are few areas of real estate where buyers need outstanding representation more than in the handling of multiple offers. Sadly, some buyers are working with licensees who lack the knowledge, caring, or both to protect them from paying more than necessary.

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