Comments on: Looks Like Writing Multiple Offers is the Phoenix Real Estate Question of the Week http://athomeinscottsdale.com/2009/08/25/looks-like-writing-multiple-offers-is-the-phoenix-real-estate-question-of-the-week/ Scottsdale real estate, neighborhoods, events, and great places around town Mon, 01 Mar 2010 22:39:17 -0700 http://wordpress.org/?v=2.9.1 hourly 1 By: A Long Road and A Lot of Lockboxes — At Home In Scottsdale | Your Guide to Scottsdale Real Estate http://athomeinscottsdale.com/2009/08/25/looks-like-writing-multiple-offers-is-the-phoenix-real-estate-question-of-the-week/comment-page-1/#comment-3158 A Long Road and A Lot of Lockboxes — At Home In Scottsdale | Your Guide to Scottsdale Real Estate Mon, 30 Nov 2009 14:20:20 +0000 http://athomeinscottsdale.com/?p=3160#comment-3158 [...] that the road was without bumps.  I wrote four, or was it five contracts, before we got one to stick. A short sale with a huge outstanding HOA bill, a foreclosure that [...] [...] that the road was without bumps.  I wrote four, or was it five contracts, before we got one to stick. A short sale with a huge outstanding HOA bill, a foreclosure that [...]

]]> By: Is It Better To Be Lucky Than Good? | Mortgages Unzipped http://athomeinscottsdale.com/2009/08/25/looks-like-writing-multiple-offers-is-the-phoenix-real-estate-question-of-the-week/comment-page-1/#comment-2234 Is It Better To Be Lucky Than Good? | Mortgages Unzipped Wed, 02 Sep 2009 01:58:32 +0000 http://athomeinscottsdale.com/?p=3160#comment-2234 [...] Multiple Offers is the Question of the Week [...] [...] Multiple Offers is the Question of the Week [...]

]]> By: REtopic.com http://athomeinscottsdale.com/2009/08/25/looks-like-writing-multiple-offers-is-the-phoenix-real-estate-question-of-the-week/comment-page-1/#comment-2206 REtopic.com Mon, 31 Aug 2009 05:15:55 +0000 http://athomeinscottsdale.com/?p=3160#comment-2206 <strong>Looks Like Writing Multiple Offers is the Phoenix Real Estate Question of the Week — At Home In Scottsdale...</strong> Last week, I had a buyer ask me if she could write offers on three separate properties, and then just go with the one that was accepted first. In theory, she could do this, although some would recommend disclosing that a buyer is writing multiple offe... Looks Like Writing Multiple Offers is the Phoenix Real Estate Question of the Week — At Home In Scottsdale…

Last week, I had a buyer ask me if she could write offers on three separate properties, and then just go with the one that was accepted first. In theory, she could do this, although some would recommend disclosing that a buyer is writing multiple offe…

]]> By: Jay Thompson http://athomeinscottsdale.com/2009/08/25/looks-like-writing-multiple-offers-is-the-phoenix-real-estate-question-of-the-week/comment-page-1/#comment-2127 Jay Thompson Wed, 26 Aug 2009 08:03:05 +0000 http://athomeinscottsdale.com/?p=3160#comment-2127 Leif - You should read the comment by Jonathan Dalton on the post on my blog Dru linked to. I was all for disclosure too, but pondering JD's thoughts changed my mind. I'm not saying you should change your's, but it's something to consider. If you feel multiple offers are unethical, how do you represent someone who is looking at purchasing a short sale? Are they just supposed to sit around for weeks on end waiting for a response while other suitable homes get sold off the market? .-= Jay Thompson´s last blog ..<a href="http://www.phoenixrealestateguy.com/welcome-to-my-nightmare-oh-the-joys-of-running-a-real-estate-brokerage/" rel="nofollow">Welcome to My Nightmare. Oh the joys of running a real estate brokerage.</a> =-. Leif – You should read the comment by Jonathan Dalton on the post on my blog Dru linked to. I was all for disclosure too, but pondering JD’s thoughts changed my mind. I’m not saying you should change your’s, but it’s something to consider.

If you feel multiple offers are unethical, how do you represent someone who is looking at purchasing a short sale? Are they just supposed to sit around for weeks on end waiting for a response while other suitable homes get sold off the market?
Jay Thompson´s last blog ..Welcome to My Nightmare. Oh the joys of running a real estate brokerage. My ComLuv Profile

]]> By: Leif Swanson http://athomeinscottsdale.com/2009/08/25/looks-like-writing-multiple-offers-is-the-phoenix-real-estate-question-of-the-week/comment-page-1/#comment-2116 Leif Swanson Wed, 26 Aug 2009 01:12:05 +0000 http://athomeinscottsdale.com/?p=3160#comment-2116 Dru, multiple offers are unethical in my book. The Arizona purchase contract states that the buyer warrants he/she has told the truth about his/her ability to qualify to purchase the home. This means the buyer swears they have enough money (cash) or have enough credit to purchase the home. If writing multiple offers, can they honestly pay for or get loans for 2 or 3 homes? If not, then they cannot write multiple offers. The other option is to fully disclose that the buyer is writing offers on more than one property at a time. This is ethical. However, sellers (banks) of foreclosure properties will immediately reject the offer. This happened to me. Took them all of 5 minutes to say "forget it!" Dru, multiple offers are unethical in my book. The Arizona purchase contract states that the buyer warrants he/she has told the truth about his/her ability to qualify to purchase the home. This means the buyer swears they have enough money (cash) or have enough credit to purchase the home. If writing multiple offers, can they honestly pay for or get loans for 2 or 3 homes? If not, then they cannot write multiple offers.

The other option is to fully disclose that the buyer is writing offers on more than one property at a time. This is ethical. However, sellers (banks) of foreclosure properties will immediately reject the offer. This happened to me. Took them all of 5 minutes to say “forget it!”

]]> By: Sula Meyer http://athomeinscottsdale.com/2009/08/25/looks-like-writing-multiple-offers-is-the-phoenix-real-estate-question-of-the-week/comment-page-1/#comment-2105 Sula Meyer Tue, 25 Aug 2009 16:21:36 +0000 http://athomeinscottsdale.com/?p=3160#comment-2105 People are panicking trying to make the deadline for First-Time Home Buyer Tax Credit. First time home buyers are finding themselves competing with investors for good deals to see them slipping away. Banks like cash. I do not blame them; they can close a deal in a matter of days instead of waiting for a loan to be process. Now up to 45 days for FHA. The panicking and the bidding wars created by the banks are pushing buyers to write multiple offers for homes that they may not even like. I found myself trying to be a counselor making people understand that even though the tax credit is nice, it is not a good reason to rush and end up with a mortgage that will feel like a burden since the house they choose driven by panic will never feel like a home. People are panicking trying to make the deadline for First-Time Home Buyer Tax Credit. First time home buyers are finding themselves competing with investors for good deals to see them slipping away. Banks like cash. I do not blame them; they can close a deal in a matter of days instead of waiting for a loan to be process. Now up to 45 days for FHA.
The panicking and the bidding wars created by the banks are pushing buyers to write multiple offers for homes that they may not even like. I found myself trying to be a counselor making people understand that even though the tax credit is nice, it is not a good reason to rush and end up with a mortgage that will feel like a burden since the house they choose driven by panic will never feel like a home.

]]> By: Dru Bloomfield http://athomeinscottsdale.com/2009/08/25/looks-like-writing-multiple-offers-is-the-phoenix-real-estate-question-of-the-week/comment-page-1/#comment-2104 Dru Bloomfield Tue, 25 Aug 2009 15:02:00 +0000 http://athomeinscottsdale.com/?p=3160#comment-2104 Says it all, doesn't it? Says it all, doesn’t it?

]]> By: Rod Rebello http://athomeinscottsdale.com/2009/08/25/looks-like-writing-multiple-offers-is-the-phoenix-real-estate-question-of-the-week/comment-page-1/#comment-2103 Rod Rebello Tue, 25 Aug 2009 14:57:28 +0000 http://athomeinscottsdale.com/?p=3160#comment-2103 Like your photo, Dru - wish I'd thought of that :). .-= Rod Rebello´s last blog ..<a href="http://tempeagentnews.com/2009/08/submit-more-than-one-offer-at-a-time/" rel="nofollow">Can I submit more than one offer at a time?</a> =-. Like your photo, Dru – wish I’d thought of that :) .
Rod Rebello´s last blog ..Can I submit more than one offer at a time? My ComLuv Profile

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