On Mon, 19 Apr 2021 14:45:38 -0700 (PDT), DerbyDad03
wrote:

On Sunday, April 18, 2021 at 9:36:03 PM UTC-4, wrote:
On Sun, 18 Apr 2021 17:07:05 -0700, pyotr filipivich
...
No bidding war? In some places, once a full-price offer with no
contingencies is made, the house is "sold". That rarely happens
though.

It's happening all the time these days, at least where I live and in Vegas where my
son works. Some people are submitting offers over full price, hoping to win when
that specific date/time review of all offers is done.

My son put in an offer on a different house last week. Full price, no contingencies,
pre-approved mortgage commitment letter showing about 10% down. He came in
second to the exact same offer except their mortgage commitment letter showed
20% down. 20%, 10% or 0% down *shouldn't* matter to the seller since there was a
commitment letter for more than the selling price in both cases. The fact that the
other buyer's offer looked more "solid" (?) than his, was enough for his offer to be
rejected. It was basically a toss up, so the seller had to use something to tip the
scales. He choose the one with the higher down payment.

That makes perfect sense. I agree, it *shouldn't* matter but there is
a higher probability of "shouldn't" happening to someone with more
than 20% down. With the 80-10-10s. and all, there are three lenders
to screw things up.

My son just (this weekend) signed a contract to buy a house that he is going to
turn into an Airbnb. It never really even hit the market. He spoke to the listing
agent as soon as he got the alert and the agent said "Write up your offer and
I'll get it right over to the seller for his signature." (My son already owns a house
that is a full-time Airbnb and he basically hasn't had an empty night since
November 2020. It covers all his expenses and still returns some profit.)
Good deal if you can swing it. I know there a lot of those at beaches
and such. Most are through VRBO, or some such. We've rented a few
over the years. It's a whole lot better than a timeshare!

SWMBO and I stay at Airbnb's all the time now. She hates hotels. Family get-
togethers for Christmas and vacations are all at Airbnb's too. SWMBO and I
will sometimes get an Airbnb just a few hours away so we can spend the
weekend hiking in some park or going to a museum, crafts show or concert.
We recently stayed at a small-town church that has been converted to 4 Airbnb
apartments, 2 up, 2 down. Based on the outlines of the pews that could be seen
on the wainscoting, it was obvious that the bed was "on the alter". Yes, that
was a little weird. ;-)

Rosemary's baby weird. ;-)