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Updated almost 7 years ago on . Most recent reply

User Stats

36
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39
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Mary B.
  • Decatur, GA
39
Votes |
36
Posts

My Higher Offer Rejected, House Went to Lower Bidder?

Mary B.
  • Decatur, GA
Posted

Hi Everyone,

I'm a new(ish) investor in the Atlanta market, buying primarily in southwest ITP neighborhoods.  I've had the experience twice now where my higher offer was rejected (in a highest and best scenario) only to have the house go to a lower bidder.  The properties were both rehabs in two completely different areas (North Decatur & Pittsburgh) and two completely different price points with two different seller's agents.  Both offers utilized escalation clauses.  The Decatur home actually went for $5,000 under my bid. 

I'm trying to understand the context where the agent would reject a higher offer in favor of a lower one, so I would appreciate the expertise of any agents in the forums so that I can avoid this costly mistake again.    

We've speculated that the offers may have been rejected because of the due diligence period being 7+ days, or perhaps being contingent on inspection, but have received no feedback from the agents as to the true cause.  Do any of you have experience or advice in such a situation?  We have shortened our DD to 3 days but I would like to learn more from the perspective of the listing agent as to what would precipitate such an outcome.

Thanks so much!    

Most Popular Reply

User Stats

538
Posts
431
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Bryan Blankenship
  • Investor
  • Cincinnati, OH
431
Votes |
538
Posts
Bryan Blankenship
  • Investor
  • Cincinnati, OH
Replied

In every scenario we routinely win with our Cash, no inspections, 10 day close offers.  Being GCs ourselves, when we go to check out a property we know everything there is to know in 30-60 mins on site, so no need for a formal inspection.

And it helps big time.

When we sell B-C, the ONLY offers I will even entertain inspections on are retail MLS sales. Otherwise, wholetail/wholesale etc, EMD is firm day one and there are no inspections. Bring whoever you want out before you make the offer.

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