what does it take for a buyer to get a home in this market? How bout over asking price, as-is (no repairs), minimal or in some cases NO contingencies, yes that's right, no option to back out without losing your deposit if there's something you don't like about the house or it doesnt appraise after your in contract ( I would never advise a buyer to do this, its just NOT a smart thing to do period!!!) and in some cases buyers even paying sellers closing costs and ive even heard of the buyer paying commissions!! This its insane, not digging it. I don't care if I have to write 20 offers for my buyers im not recommending they write offers like that and if theres another buyers agent and buyer that will they can have the house. And I hate to say this and it might upset some listing agents but im going to say it anyway. Much of this is promoted by the listing agents. They want everything in their court for a quick smooth deal and look like heros to the seller. meanwhile putting a buyer in a precarious position leveraging their desperation in a fierce multiple offer situations in competition just to get a house. Only in this kind of market can listing agents get away with this and one day the market will shift. Its perfectly fine to leverage a hot market for sellers and get them the best price for their home sure. But taking advantage and putting a buyer in contract on a home with no way to back out if something comes up with inspections, reports or their financing is not ok. Looking forward to a more balanced market for buyers.
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