Beware Letters Asking to Buy Your San Diego Home

Question: “I got two letters today. One was from someone saying they wanted to buy my rental condo. Another was from an agent saying he has someone who wants to buy my home. Do you think these are for real?” Answer: Yes and no. Almost all letters saying someone (or some group) wants to buy
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Are Sellers Required to Respond to Your Offer?

Question: “My wife and I made an offer and the seller accepted another offer without responding to ours. Don’t they have to respond? My agent said the seller’s agent is required to submit the offer to the seller. And he said if they don’t accept it, they must sign a written rejection, which the agent
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Do Fix & Flip Investors Only Make Low Offers?

Question: “Last week you talked about selling to a fix and flip investor. But don’t they only buy if they get a really low price for a house?” Answer: Not necessarily. I can speak from experience, having sold dozens of homes where we had offers from investors and from owner-occupant buyers. Many fix/flip cash investors
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Choosing the Right Offer When Selling a Fixer-Upper

Question: “I inherited a fixer-upper house in L.A. We put it on the market yesterday and today we already have 6 offers. Is that normal?” Answer: There is a strong demand for fixer-uppers right now by “fix and flip” groups. So when selling a fixer upper, the trick isn’t so much getting offers, it’s choosing
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Can You Outbid a Backup Home Offer?

Question: “There’s a home next door to some friends that my wife and I just missed out on. Now our friend tells us he heard the sale is cancelling. So our agent called the seller’s agent saying we’ll raise our offer $10,000 over the asking price, but was told they had an accepted backup offer
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What Is a “Highest and Best” Offer?

Question: “We made an offer on a home. The seller responded saying there are several offers and asking for ‘highest and best’. Can you explain what that is exactly?” Answer: The seller is countering those who offered on their home. But instead of countering with a specific price, they’re asking the buyers to come back
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Offer At, Below or Above List Price on a San Diego Home?

Question: “My husband and I have been looking for a home for four months. The perfect house just came up in University City that’s probably asking 5-10% below the market. Not sure what to offer. Do you think we should offer below the asking price, at the list price, or above?” Answer: Information flows so
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Will This Value Range Pricing Mistake Haunt Sellers?

Question: “I saw an ad that said the seller ‘will ACCEPT offers between $600,000 and $660,000.’ If that’s the case, why wouldn’t everyone just offer $600,000?” Answer: Unfortunately, the broker isn’t stating that correctly. It’s supposed to say: “Seller will entertain offers between $600,000 and $660,000” or perhaps just “Value range $600,000 to $660,000”. That
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How Long Do You Have to Make an Offer?

Question: “A house just hit the market that we like.  How long do you think we have to make an offer?” Answer: A day? An hour? I don’t know how long it will take other potential buyers to offer on the specific home you like.  But I’ve received offers in as little as an hour
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Should You Present Your Offer to the Seller in Person?

Question: “I read in the paper that a good way to help get your offer accepted is for your agent to present it in person to the seller. Is that what you recommend?” Answer: Wow, that brings back memories! Way, way back in the dark ages of real estate…before e-signatures…before email…before faxes(!), that’s how we
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