Sure....free market.
The first offer listed it at $ 417K, we offer $ 400K with closing cost, HOA transfer, Inspection fee, terminte inspection fee. Some ding dong comes in and offer full price according to the listing agent. ( I originally wanted to offer at $ 380K with closing cost, but since hubby like it so much...blah blah blah). He told me with my lowball offers, I will never able to buy anthing. ( That is the whole point, I want to wait until the end of the year, he wants to buy, because landlord is raising our rent). I thought my offer was very reasonable....and for a moment there I seriously thought we would get the house.
I have been tracking houses which I made offered and got rejected. All of these are REO....All of these were offered very very close to the asking price. There was an REO house which we like a lot, listing it for $ 460K...we offered $ 410...of course got rejected again. It is a small world, that same house was sold to a friend of mine for $ 480....yes, 20K more than asking price. We found out today, since they told us they were moving and it turn out it was the same house. 20k MORE THAN THE ASKING PRICE......I know they are our friend, but that is such a ding dong....and on top of it, this house will have two families living there. There goes the neighborhood.
My other offers, I should know by the end of this week....will keep you posted....I hope I get this one, since the price is so low, we can live on one income.
My agent doesn't mind making the offers, since it is REO, it is not someone home, so no one was insulted....except me, when I got rejected. I was hoping for a thank you letter for buying the house from the bank ( LOL).