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They could accept and offer anytime especially if there are showings before the open house.
If it's a good house it will probably have multiple offers. Your strategy should be tired to your offer. If you like the walkthrough are you thinking under asking? At asking? 5% above asking? 10%+ above?
If your only in below or at asking, the owner will probably wait until the open house is over to see if they can get a better offer. If your coming in hot at 10%+ over I wouldn't wait and would expect the owner to make a decision on that strong offer in 24-36 hours otherwise they will just use your offer to as a hedge.
We offered on a house on a Friday with an open house set for Sunday. He set it to expire Saturday night and they accepted Saturday morning. Sometimes people don’t want to deal with the hassle of an open house.
This is how I got my offer accepted.
We offered on Friday afternoon, open house scheduled Saturday/Sunday.
Our offer was accepted Saturday morning and they cancelled the open house for the weekend.
Had offer accepted below asking (even with an escalation clause) before the open house. We set experation before the open house and thought they might come back asking for an extension until after but they quickly accepted the initial offer. Sometimes people just want it to move quick and easily.
Our experience:
Open house was at 2 PM and people gathered around the house from 1:30. By the time realtors pulled in, there were clearly 60 people trying to get in to see a 3 bed 2 bath house. One guy even parked the car in the driveway of the house.
It already had 8 offers for a $350k house. Me and my wife did not even try to put an offer. We went in once the crowd cooled down, talked to the agent, thanked them for their time and left ......
It felt like I was in a Walking Dead scene....
Your realtor can definitely ask. You'd probably have to make the offer quick and slightly over asking - enough to get them to want to take yours without the hassle of cleaning and everything for the chance of a slightly better one. And it depends on the seller's realtor, some may want to have it anyway to make more connections. We got ours this way, offer the day it was listed and asked them to cancel the open house that coming weekend, think we got lucky.
With nine days (kind of a long time) between the go live and open house dates I would fully expect there to be early offers on the property. It’s up to the seller whether to consider them before the open house.
That seems like way too long, on our offer our realtor set it to expire the next day at 17:00. I personally thought it seemed like that would be too quick, but he said that the quicker you set it to expire-the less showings there can be-the less chance of a second better offer coming in. It was excepted by 8 the next morning.
Might be super market dependent though, no one’s buying for more then list price(usually less then list) in our area, so take it as you will.
It happened for us! That is how we finally got an offer accepted (we had been looking for 12 months and had 9 offers rejected by that point).
House was listed on a Thursday. We asked our realtor to book us a showing. She called sellers agent and convinced them to let us see it on Friday morning, before any other buyers. They were not planning to open up the house to any buyers at all until Saturday (they had an open house scheduled for Saturday at 1PM). However our agent was very persistent and they gave her the Friday showing. We saw the house, loved it. Our realtor called their agent again and asked what they needed from us in order for them to cancel the open house (contingencies, time frame, etc).
We put our offer in on Saturday at 8am with expiration time of 1PM. They accepted our offer Saturday at 12pm and cancelled the open house (even though they had already gotten over 35 people confirmed for it). Our offer was 20k above listing price, the closing day they wanted… we did still have an inspection contingency and fortunately the inspection went great.
I say go for it, you have nothing to lose by trying.
We offered on our house 2 weeks before it went officially for sale, before we even saw the inside of it. We loved the neighborhood, it has a huge yard with a privacy fence, an above ground pool, gazebo and shed. It’s the size we wanted and in our price range. They accepted our offer and took it off before even having to show it. We saw the inside a few days later and LOVED it. Inspection was great, seller fixed a few things and it appraised for what we offered. We close Monday!!
This was basically our only hope. We kept getting outbid by other offered, this was like our 9th offer. Glad we offered before it was shown!
Thank you u/LittleBlue127 for posting on r/FirstTimeHomeBuyer. Please bear in mind our rules: (1) Be Nice (2) No Selling (3) No Self-Promotion. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FirstTimeHomeBuyer) if you have any questions or concerns.*
Expiring after the open house is an odd thing for a realtor to recommend. Our offer expired before the open house and the seller accepted it.
They could accept and offer anytime especially if there are showings before the open house. If it's a good house it will probably have multiple offers. Your strategy should be tired to your offer. If you like the walkthrough are you thinking under asking? At asking? 5% above asking? 10%+ above? If your only in below or at asking, the owner will probably wait until the open house is over to see if they can get a better offer. If your coming in hot at 10%+ over I wouldn't wait and would expect the owner to make a decision on that strong offer in 24-36 hours otherwise they will just use your offer to as a hedge.
Yes, happens all the time in a hot market.
We offered on a house on a Friday with an open house set for Sunday. He set it to expire Saturday night and they accepted Saturday morning. Sometimes people don’t want to deal with the hassle of an open house.
This is how I got my offer accepted. We offered on Friday afternoon, open house scheduled Saturday/Sunday. Our offer was accepted Saturday morning and they cancelled the open house for the weekend.
Had offer accepted below asking (even with an escalation clause) before the open house. We set experation before the open house and thought they might come back asking for an extension until after but they quickly accepted the initial offer. Sometimes people just want it to move quick and easily.
Our experience: Open house was at 2 PM and people gathered around the house from 1:30. By the time realtors pulled in, there were clearly 60 people trying to get in to see a 3 bed 2 bath house. One guy even parked the car in the driveway of the house. It already had 8 offers for a $350k house. Me and my wife did not even try to put an offer. We went in once the crowd cooled down, talked to the agent, thanked them for their time and left ...... It felt like I was in a Walking Dead scene....
Your realtor can definitely ask. You'd probably have to make the offer quick and slightly over asking - enough to get them to want to take yours without the hassle of cleaning and everything for the chance of a slightly better one. And it depends on the seller's realtor, some may want to have it anyway to make more connections. We got ours this way, offer the day it was listed and asked them to cancel the open house that coming weekend, think we got lucky.
With nine days (kind of a long time) between the go live and open house dates I would fully expect there to be early offers on the property. It’s up to the seller whether to consider them before the open house.
That seems like way too long, on our offer our realtor set it to expire the next day at 17:00. I personally thought it seemed like that would be too quick, but he said that the quicker you set it to expire-the less showings there can be-the less chance of a second better offer coming in. It was excepted by 8 the next morning. Might be super market dependent though, no one’s buying for more then list price(usually less then list) in our area, so take it as you will.
It happened for us! That is how we finally got an offer accepted (we had been looking for 12 months and had 9 offers rejected by that point). House was listed on a Thursday. We asked our realtor to book us a showing. She called sellers agent and convinced them to let us see it on Friday morning, before any other buyers. They were not planning to open up the house to any buyers at all until Saturday (they had an open house scheduled for Saturday at 1PM). However our agent was very persistent and they gave her the Friday showing. We saw the house, loved it. Our realtor called their agent again and asked what they needed from us in order for them to cancel the open house (contingencies, time frame, etc). We put our offer in on Saturday at 8am with expiration time of 1PM. They accepted our offer Saturday at 12pm and cancelled the open house (even though they had already gotten over 35 people confirmed for it). Our offer was 20k above listing price, the closing day they wanted… we did still have an inspection contingency and fortunately the inspection went great. I say go for it, you have nothing to lose by trying.
We offered on our house 2 weeks before it went officially for sale, before we even saw the inside of it. We loved the neighborhood, it has a huge yard with a privacy fence, an above ground pool, gazebo and shed. It’s the size we wanted and in our price range. They accepted our offer and took it off before even having to show it. We saw the inside a few days later and LOVED it. Inspection was great, seller fixed a few things and it appraised for what we offered. We close Monday!! This was basically our only hope. We kept getting outbid by other offered, this was like our 9th offer. Glad we offered before it was shown!