[5-DayForum] Home WILL be sold to HIGHEST BIDDER???????????

[Scott Ames]

Hummm.. perhaps. Bill has repeatedly said you should fully expect to sell to the highest bidder, no matter the price, if you have conducted the sale property. That price should be fair value.
   
  However, I can see that if you conducted the sale wrong, or some other factors wrecked the price, that you would not want to sell at a ridiculous bid.
   
  One guy here took a bath on his place, but rather than back out, he honored the highest bid. That is comendable. 
   
  I can see that if the highest bidder obviously could not complete the sale that you would not want to honor the bid. What if their FICO score were 510 and they could not qualify for a loan and you know that? What if their income were $25,000 a year and they just offered you $540,000 for your $900,000 home?  Again, in those  cases the sale must have gone wrong to get such low bids. Would you take it off the market and let them hold you hostage for months trying to get a loan, or worse, flip your property to make money? 
   
  Sometimes you can't take the high bid because it's less than what you owe and you have no way to make up the difference. 
   
  The key is that you "intend" to take the high bid. I agree it's deceptive to intend to take the high bid, only if, it meets your expectations. If you don't however, what are you going to do with the property? Sell it through an agent? Maybe, but doubtful. Again, I assume you did the sale correctly. 
   
  This market is funky and I don't think it's really the time to sell. If you can hold your property, ask yourself, "would I be willing to buy an identical property for these prices?" If yes, then keep it. Rent it, lease it, lease/option it, but hold it until things improve. Those buying now will be very happy years from now. The question is "How many years?"
   
   
  

Eddy Workinger <eddyworkinger at yahoo.com> wrote:
        v\:* {behavior:url(#default#VML);}  o\:* {behavior:url(#default#VML);}  w\:* {behavior:url(#default#VML);}  .shape {behavior:url(#default#VML);}                 If you’re going to say I WILL sell my home to the HIGHEST BIDDER and then the bids that you get aren’t nearly high enough and you decide not to sell

is that not a lie?
   
    Your Real Estate Consultant for Life
  
    I am committed to delivering 'The Ultimate Real Estate Experience' to everyone I serve. So, don't keep me a secret.
  Who do you know that needs my help buying or selling property? 


   

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