Feel free to argue if you want, but I’m the one doing deals every day – on the buy side and the sell side, telling you that this is the case.
You simply can NOT “win” in multiple offers when you have a condition.
It’s that simple.
So if you’re still unconvinced, as a potential buyer, let’s look at it from the seller’s perspective to see just why they won’t take your conditional offer…
Perhaps I dove into an entirely different subject at the end – why the “mortgage specialist” at your bank often has his hands tied by five levels of management above him that dictate he must bring all loans up for approval on a conditional basis.
Or maybe it’s just that the banks don’t feel the need, or have the time, to complete an actual pre-approval.
I know some fantastic mortgage specialists at banks. In fact, one of my regular blog readers is one of them.
But my recent experiences with buyers who have gone through banks have been poor, and the advice they’ve received has been even worse.
So if it’s a condition on financing, a condition on a home inspection, or a condition on the sky not being blue, you have to realize that if you’re competing against six other buyers, you will NOT be successful with your condition.
The seller always takes a firm deal.
I suppose now is as good a time as any to plug my own mortgage broker: