Showerthought: I offered $5k over asking on a house in Boise and still lost

Put in an offer last month on a cute 3-bedroom. Thought going $5,000 over the list price was a strong move. The seller's agent came back and said we didn't waive the appraisal contingency. That was the real dealbreaker, not the price. Learned cash is king, but waived contingencies are the queen. Anyone else get burned by not knowing which contingency to drop first?

3 comments

3 Comments

anderson.jason2mo ago

Waiving the appraisal contingency is a huge risk though. That "queen" move can leave you covering a big cash gap if the bank's number comes in low. I would never suggest someone drops that one first. A strong offer isn't just about being the most reckless.

finley_wells662mo ago

Yeah that "queen move" thing is just like people trying to win at everything by taking the biggest risk. See it all the time, like maxing out a credit card just to look good.

dylan_thompson1mo ago

My offer got turned down because I insisted on a home inspection. Apparently wanting to know if the basement floods makes me a weak buyer. Guess I'll just buy the place and hope the foundation isn't made of wet cardboard.