Warren County Ohio Real Estate News and Observations: We Bumped Them Off!

We Bumped Them Off!

CheckmateIn a competitive real estate market where multiple offers are common on the best houses, a buyer has to do what a buyer has to do to win a house.

Sometimes that means bumping off another buyer!!

Hey, you do what you gotta do, you know???

Now before you think the worst, there wasn't anything violent going on here.

The home in Mason's Squire's Gate was listed as "Active" in Cincinnati MLS when we went to visit.  It was one of several we saw that afternoon, and when we finished discussing the homes and the pros and cons of each one, it was the home in Squire's Gate that was the winner.

A four bedroom 2.5 bath 2 story home with an open floor plan and plenty of updates, there was a lot to like about this home.  Add in the nice deck and the greenspace behind the home and there was even more to like.  Now consider that most of the homes in the community cost more, so there was good value support for the home.  And as if that wasn't enough, Cottell Park is literally around the corner.

So an offer was written and sent over.  I didn't have a lot of details from the listing agent regarding the seller's needs, but we did have a preferred occupancy date, so that was used in the offer to increase the appeal.  We kept the offer uncomplicated and sent it over.

And then the wrinkle.  The home was under contract BUT the other buyers had a contingency with a 24 hour notice clause.  We got a verbal counter from the sellers that we could work with, so we updated our offer and that forced the other buyers' hand.  They had 24 hours to drop their contingency or our offer would terminate theirs.  So we had to wait, but mid-afternoon the next day the listing agent let us know that our offer was being accepted and the other offer was terminated.  We'd bumped off the other buyers. 

The loan officer is doing his thing.  Title services have been ordered and the home inspection has been scheduled for Monday.  We're moving quickly to meet a short closing date and looking forward to a smooth process to the closing table.

 

 

Ready to talk  Cincinnati area real estate?  Just give us a call  at 513-520-5305 or email Liz@LizSpear.com.

We look forward to hearing from you!

Bill & Liz aka BLiz

 

 

Serving Warren County Ohio & Adjacent Areas


The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747

William (Bill) Spear, CRS, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

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Comment balloon 5 commentsLiz and Bill Spear • July 26 2018 02:23AM

Comments

Congratulations, Bliz. I've been in a back-up position several times that worked in my buyer's favor. My favorite was years ago, before DocuSign, and my buyer was ini Japan on a business trip . Glad everything worked out well for your buyers.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) 5 months ago

We call them "kick out'' contingencies. Lucky your buyers had you! Thanks for sharing.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 5 months ago

That's the way to do it! Make the best offer. It's like fishing. The best lures catch the most fish.

Posted by Joseph Domino 480-390-6011, Real Estate Made Easy (HomeSmart) 5 months ago

As in Margaret's area, we call them Kick Outs here, too. I recently saw on ActiveRain, another agent called them "bumpables."

Posted by Lorrie Semler, REALTOR® in the Dallas area. Call/text 972-416-3417, Real Service. Real Results. Real Estate (United Real Estate) 5 months ago

wow just 24 hours.  It's generally 48 or 72 here.  I know your buyers are happy.

Posted by Tammy Lankford,, Broker GA Lake Sinclair/Eatonton/Milledgeville (Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668) 4 months ago

Participate