What I'm Hearing ...

RaceBannon

pawz said:

Swaye said:

YellowSnow said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

Thanks for the information, it’s very helpful... yow that is a seller based extraction system to get people to bid the maximum

I can see why it may appear that way, but actually not really. There are a number of nuanced layers I did not delve into.

When the NWMLS drafts their PSA forms, I can assure you their goal is to produce a document that is the most fair for all parties involved given the circumstances.

Oh I can see that it is fair, ethical and above board fully disclosed... didn’t mean to characterize it as otherwise.

however, the implication of the maximum bid escalator clause is a seller biased built in price manufacturing mechanism that the selling agent hopes they can employ in the early phases of the sale cycle to create the fear of losing the property with in order to boost value to maximum levels.

the net effect is advantage seller under those circumstances, especially since the seller is not obligated to take the lower teaser offer that is introduced as an inducement to bid over the stated sale price

I think the realities of the market - ie no supply - have more to do with the position of power the Seller wields than any perceived nefarious intent of a broker.

Yah, I believe that we are actually thinking the same things even if it doesn't sound like it. What I'm intending to say is that the seller's agent is hoping to establish an advantage for the seller if they can [of course the seller hopes for that, and the good agent is going to do that, and that is certainly not a nefarious intention] ~ and that the ability to create that environment on behalf of the seller totally depends on supply and demand. I have also been breathlessly stating that the dynamic when it works, it is an awesome tactical strategy on behalf of the seller because it puts a lot of pressure on the buyer, which for a lot of buyers is a new frontier dynamic to consider.

The way our Seattle listing played out was kind of interesting. Our house went live on the MLS on a Sunday night. Offer review date of the following Friday. We had no offer in hand by the expiration of the review date. Then within a few hours we got 3 offers, all with escalators. The winners were $60K over asking, waived inspection and solid financing. Several of the prospective buyers said they had been burned too many times by doing pre-inspections before a review date and preferred to let the offer review date expire and go from there.

I get the escalators in a sellers market, but no inspection? Fuck that. I will never buy a home without an inspection. I just won't live there. That's absurd. Let me pay a million bucks for your house that flooded two years ago and I have no idea....real estate up there has gotten insane....

One must be smarter than the Redman to compete. Complete your inspection BEFORE you submit your offer.

There is a word for it:

preinspection


It's tuff around these parts.

If you're like most folks here, smart and handsome, you can do a lot of inspecting as you look at the house

You can't see inside stuff but you can get a great idea on the roof, the electric and the plumbing just by looking at shit like the breaker and under the sinks.

Not perfect but if you are going to go no inspection walk the house with someone who knows their shit

YellowSnow

pawz said:

creepycoug said:

YellowSnow said:

Swaye said:

YellowSnow said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

Thanks for the information, it’s very helpful... yow that is a seller based extraction system to get people to bid the maximum

I can see why it may appear that way, but actually not really. There are a number of nuanced layers I did not delve into.

When the NWMLS drafts their PSA forms, I can assure you their goal is to produce a document that is the most fair for all parties involved given the circumstances.

Oh I can see that it is fair, ethical and above board fully disclosed... didn’t mean to characterize it as otherwise.

however, the implication of the maximum bid escalator clause is a seller biased built in price manufacturing mechanism that the selling agent hopes they can employ in the early phases of the sale cycle to create the fear of losing the property with in order to boost value to maximum levels.

the net effect is advantage seller under those circumstances, especially since the seller is not obligated to take the lower teaser offer that is introduced as an inducement to bid over the stated sale price

I think the realities of the market - ie no supply - have more to do with the position of power the Seller wields than any perceived nefarious intent of a broker.

Yah, I believe that we are actually thinking the same things even if it doesn't sound like it. What I'm intending to say is that the seller's agent is hoping to establish an advantage for the seller if they can [of course the seller hopes for that, and the good agent is going to do that, and that is certainly not a nefarious intention] ~ and that the ability to create that environment on behalf of the seller totally depends on supply and demand. I have also been breathlessly stating that the dynamic when it works, it is an awesome tactical strategy on behalf of the seller because it puts a lot of pressure on the buyer, which for a lot of buyers is a new frontier dynamic to consider.

The way our Seattle listing played out was kind of interesting. Our house went live on the MLS on a Sunday night. Offer review date of the following Friday. We had no offer in hand by the expiration of the review date. Then within a few hours we got 3 offers, all with escalators. The winners were $60K over asking, waived inspection and solid financing. Several of the prospective buyers said they had been burned too many times by doing pre-inspections before a review date and preferred to let the offer review date expire and go from there.

I get the escalators in a sellers market, but no inspection? Fuck that. I will never buy a home without an inspection. I just won't live there. That's absurd. Let me pay a million bucks for your house that flooded two years ago and I have no idea....real estate up there has gotten insane....

I agree with you @swaye . I'd never buy a home w/o an inspection. In fact, I'd almost be in favor of some sort of consumer protection in RE which gives a buyer an inspection contingency no matter what.

That said, desperate times call for desperate measures and plenty of folks waive it in Seattle. And you better believe I truthfully disclosed every defect that I was aware of along with providing receipts for any work I had done- e.g., tuck pointing the chimney, fixing the first 5 or so feet of the sewer line (along with providing the sewer scope video), etc.

Sewer scope/ line repair is a big one in Seattle now eh @pawz ?

$200-$300 to save you $20k. No brainer.

And yes mandatory, save a new construction plat where the line is new.

Our home was 1927. About 8 from the house our neighbor's line linked into ours which was not uncommon. I had it scoped before we bought and then after I had an exterior clean out installed and fixed a small disjoint in the line about 2 feet below grade. No big deal. Cost about $1000 with a permit. Rest of the line was in great shape for being damn near 100 years.

A few years after we bought our place, douche canoe, cos play, fat fuck tech guy from Canada buys the place next door. It was his first home and I bet this guy spent $150K fixing shit on a 2 bed / 1 bath tear down. Comes to me one day saying he wants to put this protective liner down the whole line and split the cost with us.

I politely told him, no thanks, and you don't have my permission to do anything with MY sewer line.

dflea

pawz said:

Deadass.

lol

creepycoug

YellowSnow said:

pawz said:

creepycoug said:

YellowSnow said:

Swaye said:

YellowSnow said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

Thanks for the information, it’s very helpful... yow that is a seller based extraction system to get people to bid the maximum

I can see why it may appear that way, but actually not really. There are a number of nuanced layers I did not delve into.

When the NWMLS drafts their PSA forms, I can assure you their goal is to produce a document that is the most fair for all parties involved given the circumstances.

Oh I can see that it is fair, ethical and above board fully disclosed... didn’t mean to characterize it as otherwise.

however, the implication of the maximum bid escalator clause is a seller biased built in price manufacturing mechanism that the selling agent hopes they can employ in the early phases of the sale cycle to create the fear of losing the property with in order to boost value to maximum levels.

the net effect is advantage seller under those circumstances, especially since the seller is not obligated to take the lower teaser offer that is introduced as an inducement to bid over the stated sale price

I think the realities of the market - ie no supply - have more to do with the position of power the Seller wields than any perceived nefarious intent of a broker.

Yah, I believe that we are actually thinking the same things even if it doesn't sound like it. What I'm intending to say is that the seller's agent is hoping to establish an advantage for the seller if they can [of course the seller hopes for that, and the good agent is going to do that, and that is certainly not a nefarious intention] ~ and that the ability to create that environment on behalf of the seller totally depends on supply and demand. I have also been breathlessly stating that the dynamic when it works, it is an awesome tactical strategy on behalf of the seller because it puts a lot of pressure on the buyer, which for a lot of buyers is a new frontier dynamic to consider.

The way our Seattle listing played out was kind of interesting. Our house went live on the MLS on a Sunday night. Offer review date of the following Friday. We had no offer in hand by the expiration of the review date. Then within a few hours we got 3 offers, all with escalators. The winners were $60K over asking, waived inspection and solid financing. Several of the prospective buyers said they had been burned too many times by doing pre-inspections before a review date and preferred to let the offer review date expire and go from there.

I get the escalators in a sellers market, but no inspection? Fuck that. I will never buy a home without an inspection. I just won't live there. That's absurd. Let me pay a million bucks for your house that flooded two years ago and I have no idea....real estate up there has gotten insane....

I agree with you @swaye . I'd never buy a home w/o an inspection. In fact, I'd almost be in favor of some sort of consumer protection in RE which gives a buyer an inspection contingency no matter what.

That said, desperate times call for desperate measures and plenty of folks waive it in Seattle. And you better believe I truthfully disclosed every defect that I was aware of along with providing receipts for any work I had done- e.g., tuck pointing the chimney, fixing the first 5 or so feet of the sewer line (along with providing the sewer scope video), etc.

Sewer scope/ line repair is a big one in Seattle now eh @pawz ?

$200-$300 to save you $20k. No brainer.

And yes mandatory, save a new construction plat where the line is new.

Our home was 1927. About 8 from the house our neighbor's line linked into ours which was not uncommon. I had it scoped before we bought and then after I had an exterior clean out installed and fixed a small disjoint in the line about 2 feet below grade. No big deal. Cost about $1000 with a permit. Rest of the line was in great shape for being damn near 100 years.

A few years after we bought our place, douche canoe, cos play, fat fuck tech guy from Canada buys the place next door. It was his first home and I bet this guy spent $150K fixing shit on a 2 bed / 1 bath tear down. Comes to me one day saying he wants to put this protective liner down the whole line and split the cost with us.

I politely told him, no thanks, and you don't have my permission to do anything with MY sewer line.

Rugged Western Individualism Rowboat Ethos

YellowSnow

creepycoug said:

YellowSnow said:

pawz said:

creepycoug said:

YellowSnow said:

Swaye said:

YellowSnow said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

Thanks for the information, it’s very helpful... yow that is a seller based extraction system to get people to bid the maximum

I can see why it may appear that way, but actually not really. There are a number of nuanced layers I did not delve into.

When the NWMLS drafts their PSA forms, I can assure you their goal is to produce a document that is the most fair for all parties involved given the circumstances.

Oh I can see that it is fair, ethical and above board fully disclosed... didn’t mean to characterize it as otherwise.

however, the implication of the maximum bid escalator clause is a seller biased built in price manufacturing mechanism that the selling agent hopes they can employ in the early phases of the sale cycle to create the fear of losing the property with in order to boost value to maximum levels.

the net effect is advantage seller under those circumstances, especially since the seller is not obligated to take the lower teaser offer that is introduced as an inducement to bid over the stated sale price

I think the realities of the market - ie no supply - have more to do with the position of power the Seller wields than any perceived nefarious intent of a broker.

Yah, I believe that we are actually thinking the same things even if it doesn't sound like it. What I'm intending to say is that the seller's agent is hoping to establish an advantage for the seller if they can [of course the seller hopes for that, and the good agent is going to do that, and that is certainly not a nefarious intention] ~ and that the ability to create that environment on behalf of the seller totally depends on supply and demand. I have also been breathlessly stating that the dynamic when it works, it is an awesome tactical strategy on behalf of the seller because it puts a lot of pressure on the buyer, which for a lot of buyers is a new frontier dynamic to consider.

The way our Seattle listing played out was kind of interesting. Our house went live on the MLS on a Sunday night. Offer review date of the following Friday. We had no offer in hand by the expiration of the review date. Then within a few hours we got 3 offers, all with escalators. The winners were $60K over asking, waived inspection and solid financing. Several of the prospective buyers said they had been burned too many times by doing pre-inspections before a review date and preferred to let the offer review date expire and go from there.

I get the escalators in a sellers market, but no inspection? Fuck that. I will never buy a home without an inspection. I just won't live there. That's absurd. Let me pay a million bucks for your house that flooded two years ago and I have no idea....real estate up there has gotten insane....

I agree with you @swaye . I'd never buy a home w/o an inspection. In fact, I'd almost be in favor of some sort of consumer protection in RE which gives a buyer an inspection contingency no matter what.

That said, desperate times call for desperate measures and plenty of folks waive it in Seattle. And you better believe I truthfully disclosed every defect that I was aware of along with providing receipts for any work I had done- e.g., tuck pointing the chimney, fixing the first 5 or so feet of the sewer line (along with providing the sewer scope video), etc.

Sewer scope/ line repair is a big one in Seattle now eh @pawz ?

$200-$300 to save you $20k. No brainer.

And yes mandatory, save a new construction plat where the line is new.

Our home was 1927. About 8 from the house our neighbor's line linked into ours which was not uncommon. I had it scoped before we bought and then after I had an exterior clean out installed and fixed a small disjoint in the line about 2 feet below grade. No big deal. Cost about $1000 with a permit. Rest of the line was in great shape for being damn near 100 years.

A few years after we bought our place, douche canoe, cos play, fat fuck tech guy from Canada buys the place next door. It was his first home and I bet this guy spent $150K fixing shit on a 2 bed / 1 bath tear down. Comes to me one day saying he wants to put this protective liner down the whole line and split the cost with us.

I politely told him, no thanks, and you don't have my permission to do anything with MY sewer line.

Rugged Western Individualism Rowboat Ethos

I hated our street in Seattle and yearned for the @GrundleStiltzkin 15 acres in Index lifestyle.

Now I love all my neighbors and we have potlucks and block parties with regularity. But I live in a very unique area where the hood self selects for members of the same tribe who have very similar interests.

I went from fat, cosplay shit bags who will never reproduce to hot milfs with kids the same age as us.

USMChawk

Swaye said:

YellowSnow said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

Thanks for the information, it’s very helpful... yow that is a seller based extraction system to get people to bid the maximum

I can see why it may appear that way, but actually not really. There are a number of nuanced layers I did not delve into.

When the NWMLS drafts their PSA forms, I can assure you their goal is to produce a document that is the most fair for all parties involved given the circumstances.

Oh I can see that it is fair, ethical and above board fully disclosed... didn’t mean to characterize it as otherwise.

however, the implication of the maximum bid escalator clause is a seller biased built in price manufacturing mechanism that the selling agent hopes they can employ in the early phases of the sale cycle to create the fear of losing the property with in order to boost value to maximum levels.

the net effect is advantage seller under those circumstances, especially since the seller is not obligated to take the lower teaser offer that is introduced as an inducement to bid over the stated sale price

I think the realities of the market - ie no supply - have more to do with the position of power the Seller wields than any perceived nefarious intent of a broker.

Yah, I believe that we are actually thinking the same things even if it doesn't sound like it. What I'm intending to say is that the seller's agent is hoping to establish an advantage for the seller if they can [of course the seller hopes for that, and the good agent is going to do that, and that is certainly not a nefarious intention] ~ and that the ability to create that environment on behalf of the seller totally depends on supply and demand. I have also been breathlessly stating that the dynamic when it works, it is an awesome tactical strategy on behalf of the seller because it puts a lot of pressure on the buyer, which for a lot of buyers is a new frontier dynamic to consider.

The way our Seattle listing played out was kind of interesting. Our house went live on the MLS on a Sunday night. Offer review date of the following Friday. We had no offer in hand by the expiration of the review date. Then within a few hours we got 3 offers, all with escalators. The winners were $60K over asking, waived inspection and solid financing. Several of the prospective buyers said they had been burned too many times by doing pre-inspections before a review date and preferred to let the offer review date expire and go from there.

I get the escalators in a sellers market, but no inspection? Fuck that. I will never buy a home without an inspection. I just won't live there. That's absurd. Let me pay a million bucks for your house that flooded two years ago and I have no idea....real estate up there has gotten insane....

We sold in the time of Covid so my realtor suggested I pay for my own inspection and we provided it to any interested buyers. It was a list of minor shit that I was able to knock out ( except for a couple of things I paid a handyman to do). When I sold, the inspection contingency was removed by both buyers, during their bidding war.

creepycoug

YellowSnow said:

creepycoug said:

YellowSnow said:

pawz said:

creepycoug said:

YellowSnow said:

Swaye said:

YellowSnow said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

Thanks for the information, it’s very helpful... yow that is a seller based extraction system to get people to bid the maximum

I can see why it may appear that way, but actually not really. There are a number of nuanced layers I did not delve into.

When the NWMLS drafts their PSA forms, I can assure you their goal is to produce a document that is the most fair for all parties involved given the circumstances.

Oh I can see that it is fair, ethical and above board fully disclosed... didn’t mean to characterize it as otherwise.

however, the implication of the maximum bid escalator clause is a seller biased built in price manufacturing mechanism that the selling agent hopes they can employ in the early phases of the sale cycle to create the fear of losing the property with in order to boost value to maximum levels.

the net effect is advantage seller under those circumstances, especially since the seller is not obligated to take the lower teaser offer that is introduced as an inducement to bid over the stated sale price

I think the realities of the market - ie no supply - have more to do with the position of power the Seller wields than any perceived nefarious intent of a broker.

Yah, I believe that we are actually thinking the same things even if it doesn't sound like it. What I'm intending to say is that the seller's agent is hoping to establish an advantage for the seller if they can [of course the seller hopes for that, and the good agent is going to do that, and that is certainly not a nefarious intention] ~ and that the ability to create that environment on behalf of the seller totally depends on supply and demand. I have also been breathlessly stating that the dynamic when it works, it is an awesome tactical strategy on behalf of the seller because it puts a lot of pressure on the buyer, which for a lot of buyers is a new frontier dynamic to consider.

The way our Seattle listing played out was kind of interesting. Our house went live on the MLS on a Sunday night. Offer review date of the following Friday. We had no offer in hand by the expiration of the review date. Then within a few hours we got 3 offers, all with escalators. The winners were $60K over asking, waived inspection and solid financing. Several of the prospective buyers said they had been burned too many times by doing pre-inspections before a review date and preferred to let the offer review date expire and go from there.

I get the escalators in a sellers market, but no inspection? Fuck that. I will never buy a home without an inspection. I just won't live there. That's absurd. Let me pay a million bucks for your house that flooded two years ago and I have no idea....real estate up there has gotten insane....

I agree with you @swaye . I'd never buy a home w/o an inspection. In fact, I'd almost be in favor of some sort of consumer protection in RE which gives a buyer an inspection contingency no matter what.

That said, desperate times call for desperate measures and plenty of folks waive it in Seattle. And you better believe I truthfully disclosed every defect that I was aware of along with providing receipts for any work I had done- e.g., tuck pointing the chimney, fixing the first 5 or so feet of the sewer line (along with providing the sewer scope video), etc.

Sewer scope/ line repair is a big one in Seattle now eh @pawz ?

$200-$300 to save you $20k. No brainer.

And yes mandatory, save a new construction plat where the line is new.

Our home was 1927. About 8 from the house our neighbor's line linked into ours which was not uncommon. I had it scoped before we bought and then after I had an exterior clean out installed and fixed a small disjoint in the line about 2 feet below grade. No big deal. Cost about $1000 with a permit. Rest of the line was in great shape for being damn near 100 years.

A few years after we bought our place, douche canoe, cos play, fat fuck tech guy from Canada buys the place next door. It was his first home and I bet this guy spent $150K fixing shit on a 2 bed / 1 bath tear down. Comes to me one day saying he wants to put this protective liner down the whole line and split the cost with us.

I politely told him, no thanks, and you don't have my permission to do anything with MY sewer line.

Rugged Western Individualism Rowboat Ethos

I hated our street in Seattle and yearned for the @GrundleStiltzkin 15 acres in Index lifestyle.

Now I love all my neighbors and we have potlucks and block parties with regularity. But I live in a very unique area where the hood self selects for members of the same tribe who have very similar interests.

I went from fat, cosplay shit bags who will never reproduce to hot milfs with kids the same age as us.

Just be careful about the key parties. They sound fun, but I'm hearing they're a bad idea.

YellowSnow

creepycoug said:

YellowSnow said:

creepycoug said:

YellowSnow said:

pawz said:

creepycoug said:

YellowSnow said:

Swaye said:

YellowSnow said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

Thanks for the information, it’s very helpful... yow that is a seller based extraction system to get people to bid the maximum

I can see why it may appear that way, but actually not really. There are a number of nuanced layers I did not delve into.

When the NWMLS drafts their PSA forms, I can assure you their goal is to produce a document that is the most fair for all parties involved given the circumstances.

Oh I can see that it is fair, ethical and above board fully disclosed... didn’t mean to characterize it as otherwise.

however, the implication of the maximum bid escalator clause is a seller biased built in price manufacturing mechanism that the selling agent hopes they can employ in the early phases of the sale cycle to create the fear of losing the property with in order to boost value to maximum levels.

the net effect is advantage seller under those circumstances, especially since the seller is not obligated to take the lower teaser offer that is introduced as an inducement to bid over the stated sale price

I think the realities of the market - ie no supply - have more to do with the position of power the Seller wields than any perceived nefarious intent of a broker.

Yah, I believe that we are actually thinking the same things even if it doesn't sound like it. What I'm intending to say is that the seller's agent is hoping to establish an advantage for the seller if they can [of course the seller hopes for that, and the good agent is going to do that, and that is certainly not a nefarious intention] ~ and that the ability to create that environment on behalf of the seller totally depends on supply and demand. I have also been breathlessly stating that the dynamic when it works, it is an awesome tactical strategy on behalf of the seller because it puts a lot of pressure on the buyer, which for a lot of buyers is a new frontier dynamic to consider.

The way our Seattle listing played out was kind of interesting. Our house went live on the MLS on a Sunday night. Offer review date of the following Friday. We had no offer in hand by the expiration of the review date. Then within a few hours we got 3 offers, all with escalators. The winners were $60K over asking, waived inspection and solid financing. Several of the prospective buyers said they had been burned too many times by doing pre-inspections before a review date and preferred to let the offer review date expire and go from there.

I get the escalators in a sellers market, but no inspection? Fuck that. I will never buy a home without an inspection. I just won't live there. That's absurd. Let me pay a million bucks for your house that flooded two years ago and I have no idea....real estate up there has gotten insane....

I agree with you @swaye . I'd never buy a home w/o an inspection. In fact, I'd almost be in favor of some sort of consumer protection in RE which gives a buyer an inspection contingency no matter what.

That said, desperate times call for desperate measures and plenty of folks waive it in Seattle. And you better believe I truthfully disclosed every defect that I was aware of along with providing receipts for any work I had done- e.g., tuck pointing the chimney, fixing the first 5 or so feet of the sewer line (along with providing the sewer scope video), etc.

Sewer scope/ line repair is a big one in Seattle now eh @pawz ?

$200-$300 to save you $20k. No brainer.

And yes mandatory, save a new construction plat where the line is new.

Our home was 1927. About 8 from the house our neighbor's line linked into ours which was not uncommon. I had it scoped before we bought and then after I had an exterior clean out installed and fixed a small disjoint in the line about 2 feet below grade. No big deal. Cost about $1000 with a permit. Rest of the line was in great shape for being damn near 100 years.

A few years after we bought our place, douche canoe, cos play, fat fuck tech guy from Canada buys the place next door. It was his first home and I bet this guy spent $150K fixing shit on a 2 bed / 1 bath tear down. Comes to me one day saying he wants to put this protective liner down the whole line and split the cost with us.

I politely told him, no thanks, and you don't have my permission to do anything with MY sewer line.

Rugged Western Individualism Rowboat Ethos

I hated our street in Seattle and yearned for the @GrundleStiltzkin 15 acres in Index lifestyle.

Now I love all my neighbors and we have potlucks and block parties with regularity. But I live in a very unique area where the hood self selects for members of the same tribe who have very similar interests.

I went from fat, cosplay shit bags who will never reproduce to hot milfs with kids the same age as us.

Just be careful about the key parties. They sound fun, but I'm hearing they're a bad idea.

What if most of the keys are good?

pawz

creepycoug said:

YellowSnow said:

creepycoug said:

YellowSnow said:

pawz said:

creepycoug said:

YellowSnow said:

Swaye said:

YellowSnow said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

Thanks for the information, it’s very helpful... yow that is a seller based extraction system to get people to bid the maximum

I can see why it may appear that way, but actually not really. There are a number of nuanced layers I did not delve into.

When the NWMLS drafts their PSA forms, I can assure you their goal is to produce a document that is the most fair for all parties involved given the circumstances.

Oh I can see that it is fair, ethical and above board fully disclosed... didn’t mean to characterize it as otherwise.

however, the implication of the maximum bid escalator clause is a seller biased built in price manufacturing mechanism that the selling agent hopes they can employ in the early phases of the sale cycle to create the fear of losing the property with in order to boost value to maximum levels.

the net effect is advantage seller under those circumstances, especially since the seller is not obligated to take the lower teaser offer that is introduced as an inducement to bid over the stated sale price

I think the realities of the market - ie no supply - have more to do with the position of power the Seller wields than any perceived nefarious intent of a broker.

Yah, I believe that we are actually thinking the same things even if it doesn't sound like it. What I'm intending to say is that the seller's agent is hoping to establish an advantage for the seller if they can [of course the seller hopes for that, and the good agent is going to do that, and that is certainly not a nefarious intention] ~ and that the ability to create that environment on behalf of the seller totally depends on supply and demand. I have also been breathlessly stating that the dynamic when it works, it is an awesome tactical strategy on behalf of the seller because it puts a lot of pressure on the buyer, which for a lot of buyers is a new frontier dynamic to consider.

The way our Seattle listing played out was kind of interesting. Our house went live on the MLS on a Sunday night. Offer review date of the following Friday. We had no offer in hand by the expiration of the review date. Then within a few hours we got 3 offers, all with escalators. The winners were $60K over asking, waived inspection and solid financing. Several of the prospective buyers said they had been burned too many times by doing pre-inspections before a review date and preferred to let the offer review date expire and go from there.

I get the escalators in a sellers market, but no inspection? Fuck that. I will never buy a home without an inspection. I just won't live there. That's absurd. Let me pay a million bucks for your house that flooded two years ago and I have no idea....real estate up there has gotten insane....

I agree with you @swaye . I'd never buy a home w/o an inspection. In fact, I'd almost be in favor of some sort of consumer protection in RE which gives a buyer an inspection contingency no matter what.

That said, desperate times call for desperate measures and plenty of folks waive it in Seattle. And you better believe I truthfully disclosed every defect that I was aware of along with providing receipts for any work I had done- e.g., tuck pointing the chimney, fixing the first 5 or so feet of the sewer line (along with providing the sewer scope video), etc.

Sewer scope/ line repair is a big one in Seattle now eh @pawz ?

$200-$300 to save you $20k. No brainer.

And yes mandatory, save a new construction plat where the line is new.

Our home was 1927. About 8 from the house our neighbor's line linked into ours which was not uncommon. I had it scoped before we bought and then after I had an exterior clean out installed and fixed a small disjoint in the line about 2 feet below grade. No big deal. Cost about $1000 with a permit. Rest of the line was in great shape for being damn near 100 years.

A few years after we bought our place, douche canoe, cos play, fat fuck tech guy from Canada buys the place next door. It was his first home and I bet this guy spent $150K fixing shit on a 2 bed / 1 bath tear down. Comes to me one day saying he wants to put this protective liner down the whole line and split the cost with us.

I politely told him, no thanks, and you don't have my permission to do anything with MY sewer line.

Rugged Western Individualism Rowboat Ethos

I hated our street in Seattle and yearned for the @GrundleStiltzkin 15 acres in Index lifestyle.

Now I love all my neighbors and we have potlucks and block parties with regularity. But I live in a very unique area where the hood self selects for members of the same tribe who have very similar interests.

I went from fat, cosplay shit bags who will never reproduce to hot milfs with kids the same age as us.

Just be careful about the key parties. They sound fun, but I'm hearing they're a bad idea.

Da fuq is a key party?

pawz

USMChawk said:

Swaye said:

YellowSnow said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

pawz said:

DawgsCanDance said:

Thanks for the information, it’s very helpful... yow that is a seller based extraction system to get people to bid the maximum

I can see why it may appear that way, but actually not really. There are a number of nuanced layers I did not delve into.

When the NWMLS drafts their PSA forms, I can assure you their goal is to produce a document that is the most fair for all parties involved given the circumstances.

Oh I can see that it is fair, ethical and above board fully disclosed... didn’t mean to characterize it as otherwise.

however, the implication of the maximum bid escalator clause is a seller biased built in price manufacturing mechanism that the selling agent hopes they can employ in the early phases of the sale cycle to create the fear of losing the property with in order to boost value to maximum levels.

the net effect is advantage seller under those circumstances, especially since the seller is not obligated to take the lower teaser offer that is introduced as an inducement to bid over the stated sale price

I think the realities of the market - ie no supply - have more to do with the position of power the Seller wields than any perceived nefarious intent of a broker.

Yah, I believe that we are actually thinking the same things even if it doesn't sound like it. What I'm intending to say is that the seller's agent is hoping to establish an advantage for the seller if they can [of course the seller hopes for that, and the good agent is going to do that, and that is certainly not a nefarious intention] ~ and that the ability to create that environment on behalf of the seller totally depends on supply and demand. I have also been breathlessly stating that the dynamic when it works, it is an awesome tactical strategy on behalf of the seller because it puts a lot of pressure on the buyer, which for a lot of buyers is a new frontier dynamic to consider.

The way our Seattle listing played out was kind of interesting. Our house went live on the MLS on a Sunday night. Offer review date of the following Friday. We had no offer in hand by the expiration of the review date. Then within a few hours we got 3 offers, all with escalators. The winners were $60K over asking, waived inspection and solid financing. Several of the prospective buyers said they had been burned too many times by doing pre-inspections before a review date and preferred to let the offer review date expire and go from there.

I get the escalators in a sellers market, but no inspection? Fuck that. I will never buy a home without an inspection. I just won't live there. That's absurd. Let me pay a million bucks for your house that flooded two years ago and I have no idea....real estate up there has gotten insane....

We sold in the time of Covid so my realtor suggested I pay for my own inspection and we provided it to any interested buyers. It was a list of minor shit that I was able to knock out ( except for a couple of things I paid a handyman to do). When I sold, the inspection contingency was removed by both buyers, during their bidding war.

A lot of people do this. I understand why.

It's a philosophic point with many layers for discussion, but we? believe it exposes our sellers to too much liability and don't.

As Yella said, you disclose every. fucking. thing. you know about. Then stfu.