04/18/2023
Short story.
Last Friday at 2 pm my client sent me an address in Livonia for a single house to look at and schedule a showing, I did and we saw the house at 5:30 pm and at 6:00 pm I put a full offer in cash on it.
Called the listing agent and told her that we have a full cash offer and asked her to let me know if the seller would accept our offer.
The agent told me that they are going to have an open house on Suturday and on Sunday and open all the bids on Sunday night At 7:00 pm.
The agent sent me a note on Sunday evening about 7:00pm saying that the seller declined our offer and had accepted another one that is substantially more than ours and in cash as well.
The next day, I received this note from the listing agent. We received 48 offers and most of them are higher than the listing price.
So the question is, are we back to the bidding war, are we in recession ? What happened to the high interest and are buyers going mad?????
In two days, there was 48 offers on one small house, wow …. What is next??
