Because you never know...

My buyers recently wrote an offer that we all figured was a lost cause…

It was a special property and there was heavy competition. The listing agent had been touting the home as a “trophy”, which foretold an impressive outcome. Still, my buyers wanted to try, and of course no one can accurately predict the outcome. There were 9 offers and the sellers accepted a non-contingent offer that was $100,000 over my buyers’. Sure enough, it had been a long shot. But the following day, the accepted buyers backed out because the house wasn’t close enough to BART. (Note to selves: Check that out before you submit an offer!). In an improbable and thrilling surprise ending, my buyers’ offer got accepted —$100,000 lower than the other one!

That same week, another buyer had fallen hard for a mid-century house. She went through all the preparations of putting together a winning offer—pre-inspecting the property, reviewing the disclosure package and comps, researching the neighborhood, schools, commute times, etc. She even hiked the nearby trails with her dog to make sure the paths were being maintained. But the morning offers were due, she got nervous and decided not to submit an offer, assuming that the high level of activity would cause it to sell higher than she could go. In another surprise ending, it turned out that the four offers received were all lackluster., and the property sold for less than what my buyer was willing and able to spend.

Wayne Gretzky was right: You miss 100% of the shots you don’t take.

Since we never know what will happen on offer day, we always have to be ready to take that shot.