[5-DayForum] 5day rental experience

[brentday at althor.net]

Thanks for the advice Bill.  I pretty much decided the same
thing after some more thought.

One of the top bidders (not the highest) has offered to
do an Option to Purchase with the lease, with a $3500
option fee.

Any advice or suggestions on this?

Thanks,
-Brent

On Wed, Nov 14, 2007 at 07:21:29PM -0500, Bill Effros wrote:
> Brent,
> 
> Don't do it.
> 
> The real beauty of a 5-Day Rental is that not only does it get the best 
> price, but you can also select the best renter.  The top bid you got is 
> what you can rent that place for at this time.  All the bidders, good 
> and bad, quit at the same point.  They all know that for just a little 
> bit more any one of them can get a place nicer than yours, so why should 
> they bid more for yours?
> 
> But any one of them would be happy to have your place at the bid 
> amount.  Use the application process to sort through them.  You will 
> wind up with a renter who appreciates your property, takes good care of 
> it, and returns it to you in the same condition as it was originally.
> 
> Bill Effros
> 
> brentday at althor.net wrote:
> > Hello forum,
> >
> > I was active on the forum this past August when I ran
> > a failed (I couldn't take high bid) 5-Day sale.  I listed
> > the house for months on MLS, and while I had 2-3 showingsB per
> > week I had no offers.
> >
> > I ran a 5-Day rental last week and it was a GREAT success.
> >
> > I have 4 offers above what I was hoping to get and we are
> > reviewing the applications this week.
> >
> > I have a question for Bill, or anyone else who has done
> > a 5day rental.
> >
> > After the round-robin on sunday, I pulled the craigslist ads
> > on monday.  But I've still continued to get emails and phone
> > calls from people who saw the old print and internet ads.
> >
> > I started saying that it was no longer available, but I now
> > tell people who call that we had an open house where people
> > could offer what they wanted for rent (short version of 5day method).
> > That we have offers between $1300-1625, and if that was around
> > their price range they could schedule a showing.
> >
> > A couple people have come by and said they will phone in an offer.
> >
> > I'm not going to redo the round robin.  Everyone is at their
> > "best offer" and it mostly depends on the applications at this 
> > point.
> >
> > Do you think it is wise to keep showing the house in this
> > way?  
> >
> > I was also considering re-listing on craigslist indicating the
> > range of offers I had received.  Do you think this is a mistake?
> >
> > Thanks for all your help.  I was still a fan of the 5day method
> > after my failed sale.  I'm a huge fan of it now after a succesful
> > rental.
> >
> > Best,
> > -Brent
> >
> >
> >
> > _______________________________________________
> > 5-DayForum mailing list
> > 5-DayForum at mailman.howtosellyourhomein5days.com
> > http://mailman.howtosellyourhomein5days.com/mailman/listinfo.cgi/5-dayforum
> >
> >   
> _______________________________________________
> 5-DayForum mailing list
> 5-DayForum at mailman.howtosellyourhomein5days.com
> http://mailman.howtosellyourhomein5days.com/mailman/listinfo.cgi/5-dayforum