I am working with a buyer who is looking for a vacation villa in Davenport with a private pool. He has been doing a lot of the searching himself on websites such as Zillow, Trulia, Movoto, etc. Normally I love when a buyer takes the bull by the horns and does some searching and research on their own. You can never have too much information, which is why I write this blog. But in this case it has backfired on us and I’ll tell you how.
Today I received an email from said buyer asking for some more details/info on 7 listings. The first thing I did was go to the MLS and see which ones were still available. Not a one was still actively on the market. Every single one had either sold or was in pending status. This was frustrating for me but even more so for the buyer. Homes are selling so fast you can't even keep up with them.
I happened to know the listing agent of the buyer’s favorite listing so I decided to give her a call and see how things were going and see if she had room for a back-up offer. Here are her words, “Sure, we can take another offer but we already have 22 offers on this listing”. WHAT!!! Are you serious?!! So unless my buyer is willing to come way up on price we don’t have have a shot in you know where of getting this one.
My jaw had already hit the ground but it got even worse. She then told me that she has 3 listings in Davenport right now. They had 16, 19, and 22 offers on them respectively. I was floored to say the least. I know there are almost always multiple offers on homes in the below 100k price range, but it has become very competitive indeed. Go big or go home is the phrase that comes to mind. Buying a foreclosure has a laundry list of idiosyncrasies that you as the buyer need to understand if you are going to secure a home in this market.
Here are a couple of other articles about buying foreclosures that I think will help you. If it's not covered there I'm always a phone call or email away. Good luck and happy hunting.
Buying A Central Florida Foreclosure Requires Some Strategy
Buyers Beware....The Asking Price Of The Property Means Squat!
10 Houses To Show 5 Buyers, How’s That For A Market Update!
Serious Buyers Make Serious Offers
Search For Homes In Central Florida
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Mortgage Assistance Relief Services Disclosure
Tutas Towne Realty, Inc is not associated with the government and our services have not been approved by the government or your Lender. If you stop paying your mortgage you could lose your home and damage your credit. Your Lender may not agree to the change of your loan and/or a Short Sale.With a Short Sale, there are no guarantees offered and we cannot provide legal advice. Seek legal advice.
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Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales, Orlando Florida Short Sales, Celebration Florida Short Sales, Winderemere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.
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