How Not to Win a Bidding War [Due Diligence]
by Osman Parvez
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The most attractive listings in Boulder, priced appropriately and marketed professionally, attract multiple offers. Yes, even in this market.
One way to increase the attractiveness of your offer (without increasing the price) is to limit the inspection (usually to health and safety items, or to a specific price threshold). Tightening up the inspection can help you win the bidding war, but forgoing the inspection entirely may cost a lot of money down the road. This is why.
The service life for cast iron sewer pipes is 50 to 75 years. As the years go by, these pipes will rust away from the inside. Much of South Boulder was built in the 1950’s, which means if the sewer pipe hasn’t already been replaced, it will likely will need an expensive repair in the near future.
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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
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Osman was a refreshingly honest realtor. He stressed through the entire process that his goal was to make me happy with my home purchase. I greatly appreciated the fact that he never shied away from pointing out the negatives as well as the pluses of different places while leaving the final decision up to me.
We can highly recommend Sophie. Her attention to detail and communication skills are great. Our home was in area that most realtors are not familiar with, but Sophie took extra time to get to know the neighborhood in order to give us quality service. She also brought in a professional photographer to make our home look its best. Even though the listing was in winter, the house sold quickly. With Sophie’s business and people skills, we have no doubt she will be a top realtor in the area.
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More about the author
Osman Parvez
Owner & Broker at House Einstein as well as primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has appeared in the Wall Street Journal and Daily Camera.
Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. Learn more about Osman.
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