5 ms·
As someone who recently bid in a hot property market, I'm a huge fan of common sense bans and unwaivable rights. In a competitive market, filled with buyers of
by ethbr0 5y ago
As someone who recently bid in a hot property market, I'm a huge fan of common sense bans and unwaivable rights.
In a competitive market, filled with buyers of questionable sophistication, i.e. residential real estate, everyone gets to the bottom of maximally-waived, minimal-safeguards pretty quickly to make a competitive offer. And ultimately, that isn't good for anyone, sellers included.
Better to explicitly prohibit the stupidest behavior and require some safeguards. E.g. non-waivable 72 hour cooling off period. Then everyone can compete within those bounds however they want.
- blip54321 5y agoIt's complex. There are two sides to every equation. Buyer and seller. Sellers aren't necessarily sophisticated either. If I sell my home, and the roof is leaking and I don't know about it, I don't want to be liable down-the-road. Peace-of-mind is worth a lot. Especially if the buyer is sophisticated, I might take a lower offer if it has the right waivers.
- chaostheory 5y agoHow bad are the bidding wars ie how much over listed price do houses tend to sell for?