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Add You - Timing Clauses Stop Sellers From Inciting Bidding Wars
Your Adjustable Rate Mortgage Is About to Adjust -- So Now What. A wrap-around mortgage is a loan transaction in which the lender assumes responsibility for an existing mortgage. Mortgage is calculated by these factors. A sec
Say the asking price of the home is $995,000. Your offer is $995,000 with a drop dead date of September 1, 2005. On August 29, 2005, the seller i
Filling in an online car loan application is a very easy task. There are two channels for online auto loan applications: either directly to a car loan online company orthrough an online car de
Timing Clauses – Drop Dead!
A timing clause is inserted in an offer to avoid open-ended bidding wars. You do not want your offer to be “on the table” indefinitely. Such a situation inevitably leads to a bidding war where sellers “auction” up the price of home to a sellers benefit. To avoid this, you should choose to put a “drop dead date” on your offer. You would include language that says something like, “This offer is open until withdrawn or until 9:00 P.M. on Tuesday, June ____, 20__, whichever comes first.”
Let’s look at an example of how a hypothetical situation might work out.
Say the asking price of the home is $995,000. Your offer is $995,000 with a drop dead date of September 1, 2005. On August 29, 2005, the seller in
Have you heard of the other tlds (top leve domains) such as: .free, .church, .video, .travel, .llp, .golf, .school, .agent and .love? There are many more too. Wait! Don't wretch just yet. I'll tell you why in just a minute.. Using timing clauses can help avoid such a situation and protect you from buyer’s remorse.
Timing Clauses – Drop Dead!
A timing clause is inserted in an offer to avoid open-ended bidding wars. You do not want your offer to be “on the table” indefinitely. Such a situation inevitably leads to a bidding war where sellers “auction” up the price of home to a sellers benefit. To avoid this, you should choose to put a “drop dead date” on your offer. You would include language that says something like, “This offer is open until withdrawn or until 9:00 P.M. on Tuesday, June ____, 20__, whichever comes first.”
Let’s look at an example of how a hypothetical situation might work out.
Say the asking price of the home is $995,000. Your offer is $995,000 with a drop dead date of September 1, 2005. On August 29, 2005, the seller i
Fixer upper homes can be found in even the most expensive cites for much less than other homes. Even here in Tucson, where a small home will usually be over $200,000, an investor at our real estate investing club just told us
Let’s look at an example of how a hypothetical situation might work out.
Say the asking price of the home is $995,000. Your offer is $995,000 with a drop dead date of September 1, 2005. On August 29, 2005, the seller i
“The right word may be effective, but nothing is as effective as a rightly timed pause.” - Mark TwainMark Twain, through erroneous attribution, is accused of saying many things, but the foregoing is not only a true qu
Let’s look at an example of how a hypothetical situation might work out.
Say the asking price of the home is $995,000. Your offer is $995,000 with a drop dead date of September 1, 2005. On August 29, 2005, the seller i
Marketing and selling services is one tough task. If your job is to market services to sophisticated buyers like professionals, doctors, lawyers, architects, designers, financial planners, accountants, tax experts, a
Say the asking price of the home is $995,000. Your offer is $995,000 with a drop dead date of September 1, 2005. On August 29, 2005, the seller informs you of a competing bid for $1,000,000. While your immediate reaction is to panic and up your offer, you should instead calmly ask to see the competing offer. If the seller drags their feet or won’t produce it, the bluff is called. Now the seller has to make up their mind before the 1st. They may decide not to accept your offer, but at least you will have avoided bidding against yourself. Alternatively, if the seller produces a competitive bid, you will know where you stand and make an informed decision on whether to raise your bid.
Timing clauses are fairly standard practice in most parts of the country. Make sure you use one to force the seller to make a decision. You don’t want to be left twisting in the wind.
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