You found a great house. It’s priced aggressively at $1,595,000. It’s in a prime location. The seller handed out 25 disclosure packages and expects 5-10 offers. You know it’s going way over asking—but you still want to “get a deal.”
So how did we get here? You tried doing what people unfamiliar with and outside of our area would do in their market or their generation, and you slowly started accepting my advice.
Summary of Scenario 1 and 2:
Scenario 1 Offer (Rejected):
- Offer: $1,500,000 ($95K under asking)
- Contingencies: Multiple (inspection, appraisal, loan)
- Result: Laughed at, 12 other offers, you were the lowest and riddled with contingencies
Scenario 2 Offer (Rejected, but with hope):
- Offer: $1,500,000 ($95K under asking)…parents and out of town Realtor still influencing your decision
- Contingencies: None (no inspection, appraisal, or loan contingencies)
- Disclosures: Fully reviewed and signed
- Result: Still too low, but not immediately dismissed, because you had a “clean” non-contingent offer
So how can you take those two losing situations and potentially get a win?
Scenario 3
This may not be totally obvious to you as a new buyer, but I’ve been doing this multiple offer thing for clients for over 20 years. It is nothing new to San Francisco. Prices have significantly increased, but situation is still the same.
If you want to win in San Francisco, on a hot property, in a great location, that is competitively priced, you absolutely MUST be over asking. Don’t waste your time trying to “get a deal”. You’ll keep losing. In San Francisco, it’s all about getting a home. Then, in three years, you might realize you got a deal. You won’t have to go to any more open houses. You won’t need to read any more disclosures or write any more offers. Instead, you get to enjoy your home, start building equity, get your weekends back, and make memories. That alone is a win.
So in this situation your offer should be:
- Offer: $1,678,880 (the multiple 8’s strategy is interesting, so hit me up if you’d like to learn more on that)
- $83,880 over asking
- Contingencies: Non-contingent
- Timeline: Close in 21 days
- Disclosures: Full disclosure package signed
- Pre approval: Included
So you’re doing just about as much as you can. You listened to my advice, but sadly even then, it’s no guarantee. Check back to see what can, and will likely happen next.
Related links:
🔹 Scenario 1: Why Lowballing Gets You Nowhere
🔹 Scenario 2: How to Write a “Clean” Offer
🔹 First-Time Buyers: What NOT to Do