Another nice-looking place contingent before the scheduled open houses. Presumably they got a great offer up front, maybe with a very short clock. But this place would’ve gotten 20+ offers (a good comp had 18 with the winner at least 250K, or 25%, over ask). So unless the offer was ludicrously good (like 40+% over), why would the sellers agree not to open the place up?
“It was an offer they couldn’t refuse.” I’m sure it was great. But by insisting on a short clock, the buyers are tipping their hand that they, the buyers, are afraid they’d be out-competed on the open market. Otherwise they wouldn’t need to bully. In fact, the more bullied a seller is in the early hours, the more confident they can be that they’ll get some great offers if they let it go to market properly (and the bullies can crawl back and compete if they really want it that badly). By letting bullies call the shots, they’re also ruling out large classes of strong bidders, including successful sorts who maybe can’t drop everything at a moment’s notice on a weekday (e.g. doctors, lawyers).
“The house was shown around before it was listed.” See above.
“The sellers just want a smooth process.” Fair enough, if a smooth process is worth that much to them. People have a right to lose money however they want. But how much smoother is it, really? The agent can handle almost everything. They’d just have to wait 24 more hours and then pick the highest number. It might take a month to close anyway.
“The buyers had a uniquely compelling story.” If they need that particular house that badly, they’ll still need it the next day, and the sellers can still pick them.
“The buyers are their cousins.” Ditto. And why list it and schedule open houses?
What’s missing from my rant?