Question
In northern VA, is anyone else having trouble buying a house? getting outbid by investors...?
with large sums of cash etc.? We have put competitive bids on 6 houses, researched nearby sales etc for home value. the last house we offered 20000 above asking and were outbid by someone offering 40000 above asking...wtf? and there is no way that home will appraise for that much. however just today we purchased new construction to avoid the stress of this market. we have to wait but at least i dont have to pay more than what its worth.
5 months ago - 1 answers
Best Answer
Chosen by Asker
In Northern, VA, the real estate market has always been highly competitive. There is nothing illegal about someone bidding higher than you...investor or not, everyone has that option. However, investors aren't going to pay more for a property than it's worth....they are much smarter than that.
5 months ago
Asker's Rating: 