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Multiple offers for for units in same building?

Started by ms2233
over 16 years ago
Posts: 1
Member since: May 2010
Discussion about
I would like to know whether it is possible to make offers on two different units in a building being sold by the sponsor. The situation is this: we'd like to make an offer for the higher-priced unit that is below the asking price; if we're not able to reach a mutually agreeable price, then we'd make an offer for the lower-priced unit at the asking price. I'm wondering whether this would put us at a disadvantage with the sellers, or endanger our chances with the lower priced unit (in which case, we'd probably only make an offer for the lower-priced unit). Thanks for any advice you can provide.
Response by ab_11218
over 16 years ago
Posts: 2017
Member since: May 2009

when you deal with a sponsor, you're dealing with a company, not a person. there's a lot less "feelings" attached. having you buy one unit or the other is a win win for them.

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Response by MRussell
over 16 years ago
Posts: 276
Member since: Jan 2010

@ ab_11218. Not true at all. A sponsor could very well be an individual.

@ ms2233. And in regard to the original question. You can put in multiple offers, but if you are going to put in an offer at the asking price, that is the one that will get accepted. You should try to first put in the offer on the higher unit and see where that goes. If it doesn't pan out, then put in an offer on the unit you know you can afford. Otherwise you will just get an accepted offer on the lower unit and get a mediocre counter on the more expensive unit (that is unless it is the last one in that line, etc, and they might just want to get rid of it). The only reason I would put two in at the same time would be if you think there is a good chance someone could come in on the other unit while you are negotiating on the higher unit. In that case, it's best to be the first one in line. Hope this helps.

(Matthew Russell - Brown Harris Stevens)

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Response by front_porch
over 16 years ago
Posts: 5325
Member since: Mar 2008

Matthew's right that your offer at list will be accepted, but since he's also right that it's best to be first in line, go ahead an put in an offer on EACH apartment below list.

That way, if they're not negotiating, they'll counter on the lower-priced apartment at list rather than sell it to someone else who walks in the door while you're negotiating on the higher-priced apartment.

ali r.
DG Neary Realty

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