“I just made an offer on a Pacific Beach home that had been on the market for 8 months. Now suddenly there’s a second offer. Why is it that when I decide to make an offer, suddenly and mysteriously another offer appears? I’m a little suspicious.”
While RARE, agents have been known to unethically and illegally invent offers.
In the 90s, a couple had their home for sale and their agent got an offer. He proudly told them he planned to lie and say he had a 2nd offer so that he could trick the buyer into paying more.
To his sad shock and dismay, the couple lost all trust in him and asked to cancel their listing, and he reluctantly agreed. They then called me and I sold their home WITHOUT inventing a bogus offer, and these wonderful people have been great clients for years.
As to your situation…
There’s no dependable way to tell if the other offer is real. I advise you ask your agent to quiz the seller’s agent about the other offer and try to determine if he’s making it up.
If it seems real or you can’t tell, just be sure you don’t offer any more than you feel the home is worth.