Broker’s Saga
Winning a “Bidding War” Can Be Dear

Chloe Dresser

I am a Real Estate Broker. I see hundreds of homes every year and do not normally think about buying the great homes that I see. However, a couple of years ago I fell in love with a property!

I already had a home, one that I was happy with; I was not looking to buy. Then one spring day something new came on the market, close to town, an 1870’s converted barn, an orchard with meadow rolling down to a water fall in the trout stream, interesting looking property. There was an open house so one of my colleagues and I ran over to take a look. We couldn’t believe it! Oohing and aahing, “This is great,” “I wish I could afford this!” Finally she looks at me and says “Maybe you could.” Wow, a couple of good years here, maybe we could! I spoke to my partner, we discussed options, and yes, we could. We write up an offer: full price, no inspection contingency. We want this property! Offer is presented. The agent calls back and says, “I’m sorry, another offer came in and they verbally accepted that one.” AARRGH! More discussion and finagling of funds. We raise our offer to $80,000. over the asking price. No good, they sign with him (for $50,000. less than our offer). Can they do that? Of course they can! They can choose any offer they like! They can give it away if they choose. Disappointed and dejected.

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Reluctantly we move on, but, just in case, make it known to the new owner’s lawyer that if ever, ever, he might consider selling . . . Two months later, we get the call “not using it as much as he’d hoped, not sure, might want to sell…” Yes! Hope springs eternal! Maybe.

Three more months drag by, and then the real call. He’s ready to sell. Asking $115,000. more than the previous asking price! Without hesitation we’re in! Are we crazy? Did we overpay for this property? Do we care!! Not one iota. We have our dream, and we won’t be selling.

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