Question

Has anyone ever had to offer a little more than the listing price for a house to make sure you get it?  

Answer 1

Ha! We are searching in the Milwaukee area now, houses are going in less than 24 hours and anywhere from 10 to 50, 000 over asking! We have lost out on every house we have put offers on OVER the asking price!  

Comments

@porosity you're basically my neighbor Milwaukee is 45 mins from me. Houses are going so fast everytime this year because of people using their returns for down payment

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@amatol yes, and inventory is low. We actually started searching in JUNE! The market in this area is just crazy!  

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@porosity I agree so far we have been lucky and was able to get 'dips' on a house before it hit the market we have been looking since last October. And tomorrow we all are meeting with a mutual realtor to put an official offer in  

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@amatol good luck!  

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@porosity good luck to you as well

Answer 2

In Scotland it’s usually offers over! Very frustrating as you don’t know what others offer so if you really want it, you can easily go way over just to get it.  

Comments

@psychodiagnosis thank you!  

Answer 3

If you know that there’s a lot of interest in it and people touring, yes. You can always lower it after inspection once you find out all the repairs it needs.  

Comments

@embolic thank youuu! I am purchasing my first home in an up and coming neighbored. All of the other house around me are being sold for a waaaayy higher price than mine and I was afraid it may be taken. Thank you for your advice!  

Answer 4

Yes, in CA it is always a bidding war

Answer 5

Yes, but your realtor should be able to help you come up with a strong offer. When we moved to Denver we offered 5% over listing for multiple houses and didn’t get them. The one we finally got I wanted to offer 7% over but our realtor assured me she had spoken with the listing agent and he felt 5% would work. Communicate with your agent, he/she knows what surrounding houses are selling for.  

Answer 6

In Tucson that is definitely a thing right now.  

Answer 7

Yes, especially in Southern California.  

Answer 8

Yes- $200, 000 MORE.  

Comments

@alisun  where?  

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@alisun I was just going to say this. Life in a high demand area with it being a seller's market for the past few years. I sometimes see "low" numbers of only 70k over asking lol. On houses that are already $$$$

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I live in Baltimore - it’s not always so outrageous, but the house I bought was unusual and the bidding kept going up bc of interest from several parties. I was sick about how much it was at the time- especially since it was a shell and needed to be totally redone, but it’s become our dream/forever home and is now worth more than we have in it.  

Answer 9

We offered $3K over asking price.  

Answer 10

We did 25k over asking. I live in South Western, ON, Canada

Answer 11

Thanks everyone ! I don’t feel so bad now lol

Answer 12

I've never personally offered more than asking price. But, our old house had I think 12 offers in the open house weekend and most were above asking price. But, remember the house has to be assessed at that price or higher or you won't get the loan for that amount. Atleast that's how it works in my state.  

Answer 13

Definitely if there are a few offers.  

Answer 14

Yes, we put an extra $2500 on our home because we needed it contingent on our other house selling.  

Answer 15

I live in NJ. and my house was listed for $350, 000 and I got it for $335, 000. but it was in 2008 and depending on the area u will have to over bid.  

Answer 16

I did in order to have higher chances. I got turned down for so many. Finally won a bid and then ended up Pauling asking price anyways because of the appraisal value.  

Answer 17

We did 10k over asking 2 years ago. Totally worth it. There were 6 other offers above asking.  

Answer 18

I did and it was a financial struggle. Make sure you can really afford it if you go over your budget.  

Answer 19

Sometimes realtors list a house at a lower price to start a bidding war. Be patient and don't overpay for the biggest purchase you'll ever make!  

Answer 20

Thank you everyone!  

Answer 21

Make sure that it will appraise for the offer price. If not you might have to pay the difference to get to the loan amount.