I am about to place a bid on a house, i was looking at it about two months ago and was told that someone else had already placed a bid but it was real low and they doubted that it would be accepted... it wasn't. now that it has been refused is there any way to find out what it was? or any other refused bids on this place? Linn county Oregon
2010-01-29T12:47:17Z
Do I get my earnest money back if my bid is refused?
2010-01-29T13:00:21Z
I have not placed the bid yet. I really want the house but i need about 5k to come off of the asking price before I can afford it and 10k would make me much more comfortable, but would I come 10k off a property that started out at 60k???
x42949672962010-01-29T12:54:47Z
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One thing to keep in mind is that just because they refused a bid in the past doesn't mean they would refuse the same bid now. They might be getting desperate, or just tired of trying to sell it.
Use a real estate professional- they get paid by the seller, so you pay nothing for their professionalism. In a real estate contract you can specify the conditions of your offer. For example, offer valid for 3 / 5 /10 days. If you don't have a signed contract in this period you ask your realtor to help you complete an escrow disbursement order. You can NOT find out what the other offers are on a property because the selling agent has a duty to protect this information on behalf of the owner. This is called fiduciary duty. However, you can always bid low and ask the realtor in a memo to keep you informed of other bids. When a bid beats yours you can offer a little more. The best offer is not always the higher amount. Sometimes it is better to accept better conditions, for example a bigger down-payment, an approved buyer etc. Sometimes asking the selling agent "what would it take to buy this house" will get you more information that will lead you in the right direction. Good luck.
You can't find out what the other bids are but it's not unusual for the seller to contact lower bidders asking if they would like to increase their bids. This usually isn't a simple silent auction where you enter a bid and that's the end of it. Since it as been two months I'll assume this is a short sale in which case the bank will decide which bid to take. It's not unusual for them to accept a lower bid if the buyer can pay cash or is willing to not have the sale contingent on obtaining financing.
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NOPE, none of your biz. If they win, and purchase house, you can eventually find that price out.
The point of EMD is to show you are serious and will persevere through negotiations, and it is returned if your offer isn't accepted. You can pay a Judgment Note with your actual EMD to be paid AFTER offer is accepted.