Q: My agent is suggesting that I make an offer on a home that is more then the asking price. I am being told that there ?are? other interested buyers. Right now I am not entirely comfortable with this situation, I don?t know if I am being told this because it is true, or is it to have a higher commission.
?Anonymous, Portland, OR
A: Depending on how homes are selling in your market and the price range of the home you have interest in, there could very well be other ?interested? buyers. There is a difference between ?interested buyers? and ?other offers? on the table. If the listing agent is telling your agent that there are other ?offers? on the home and there is still time to submit an offer, ask your agent to ask the listing agent to send over page one of the ?other offer? with the the names, price, and other negotiable terms blacked out. If the listing agent refuses to do so, it may give you some additional insight into what is really going on. If the listing agent refuses to do so, it is by no means a guarantee that there are not other offers, but in my experience, (when asked) I will always send over the blacked out front page as its in my sellers best interests to try and create a multiple offers situation. Best of luck with your offer!
Paul Aspelin is a Realtor? with Beyond Homes Realty LLC in Victoria, MN.
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Source: http://www.realtor.com/blogs/2012/10/19/should-i-offer-more-than-the-asking-price/
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