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Life Arts    H4'ed 3/31/21

76 All-Cash Offers on One Home. The Housing Madness Shows No Signs of Slowing

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Ellen Coleman had never received so many offers on a house in her 15 years of selling real estate.

She listed a fixer-upper in suburban Washington, DC for $275,000 on a Thursday. By Sunday evening, she had 88 offers.

"The offers just kept coming," she said. "I felt like Lucy with the chocolates. I'm thinking, 'This is just out of control.'"

Of those 88 offers, 76 were all-cash, said Coleman, who works for RE/MAX Realty Centre. There wasn't even enough time for all of the bidders to visit the property. She said 15 offers were sight unseen.

 

 

    The four-bedroom, 1,800 square-foot home sold for $460,000, nearly a 70% increase from the asking price. She said the winning bid was not the highest offer, but it was all-cash with no contingencies and it had paperwork in place. 

    Yahoo house sale in New Jersey
    Yahoo house sale in New Jersey
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    A rapidly aging boy from NJ, with a somewhat radical political bent, who, after quite some time, seems to finally (in the truest sense of the word) be getting it together... Om Sai Ram

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