Multiple Offers: Does it Matter Who Buys Your House?
Depending on to whom you speak, my position as a top Sacramento real estate agent could be enviable or unfortunate when it comes to giving my sellers intelligent advice about multiple offers and helping them to decide who should buy the house. After all, it is the sellers’ decision. It doesn’t matter if the home is a short sale or a regular equity sale, who buys the house is still the sellers’ decision. The seller owns the home and the seller is in control, making all decisions. I’m just that yappy little Yorkie in their corner trying to help them to make the right decision — which is the decision that is best for the seller.
As such, I sometimes slip on my sellers’ shoes, although I don’t walk very far in them. Like those Lady Gaga shoes. I’d probably break my neck trying to walk down the front steps in 7-inch heels. I step into my sellers’ shoes at times because I want to make sure they consider all of the information they need to make an informed decision and not just pluck a number out of the basket of multiple purchase offers.
You might be thinking, what’s the deal? The seller should take the highest offer, end of story. However, please hang on and bear with me; I propose there is more to the story. Whomever buys the house is the person who will take care of that house after escrow closes. After the agents collect their commissions, the seller pockets that big fat check, the keys tossed into a kitchen drawer and, lights out, everybody goes home happy as little clams, who bought the house might matter.
Was it an investor or an owner occupant? Why do you care? Does it matter who buys your house?
You care because it’s your neighborhood you are leaving behind. Your neighbors and probably your friends, the community in which you served, built memories and forged lasting relationships. Some of us believe we have a responsibility to leave the world in a better place after we touch it. One by one we can make a difference in our communities. We can help to transform and improve or we can help to destroy.
Sometimes, it’s as easy as deciding between what you would want for yourself if you were the person left behind. Or, what would you like to see in the neighborhood where you move? Do you want to move into a neighborhood as a homeowner in which half or more of the homes that were once owner-occupied have been converted into rental properties?
There are large groups of non-local investors buying up huge chunks of Sacramento for rentals and they are changing the face of Sacramento. These corporate investors are paying cash and do not always offer market value, either. Lately, I’ve been receiving lowball offers from these groups. Some are brash. I see unreasonable demands. And they are turning our neighborhoods in Sacramento, block by block, into rentals, away from owner-occupied homes, which once reflected our pride of ownership. Do first-time home buyers stand a chance against these cash-rich bullies? Who is helping the little guy to succeed?
Before you sign that purchase offer, think about does it matter who buys your house. You might have a choice. Consider what your mother might say. Then do the right thing.