Offer DeadlinesIt’s a seller’s market in Silicon Valley right now.  Many sellers are getting multiple offers and overbids, especially in Cupertino, Sunnyvale, Mountain View, Palo Alto and Menlo Park.  For home owners trying to maximize their sales price, does it make sense to have an “offer deadline”?

Maybe.

If you are pretty confident that you can get multiple offers, the deadline helps in a few ways.

  • it prevents the offer situation from being a mere “foot race” (fastest one wins)
  • it allows everyone enough time to see the house, read the inspections, disclosures etc.
  • it provides enough time for the sellers and agents to plan

As with all strategic plans, this one can backfire too.  If you or your agent publishes an offer deadline and then no bids are forthcoming, it’s more than just a let down.  It’s a market signal that this home is overvalued by its owner and agent.  Then, suddenly, it can appear to be an old listing, even if it’s just been on the market 7 to 10 days.

Many real estate agents take a middle path, saying nothing about offers until agents ask. If they are asked, they will give a date in the future – usually a couple of days after the open house.  But the MLS won’t say it for these agents unless they hear many buyers’ agents asking about offer presentation.  They don’t want to look bad, they don’t want your house to look bad.

We never know until a property goes on the market how it will fare.  It is wise to be cautious about advertising an offer date unless you are very certain that you will be seeing multiples!

  1. 3 beds, 2 baths
    Home size: 1,436 sq ft
    Lot size: 6,708 sqft
  2. 5 beds, 3 baths
    Home size: 2,958 sq ft
    Lot size: 8,799 sqft
  3. 3 beds, 1 bath
    Home size: 1,284 sq ft
    Lot size: 4,621 sqft
  4. 2 beds, 1 bath
    Home size: 1,365 sq ft
    Lot size: 9,178 sqft
  5. 0 beds, 0 bath
    Home size: 1,628 sq ft
    Lot size: 8,023 sqft
  6. 4 beds, 3 baths
    Home size: 1,990 sq ft
    Lot size: 7,949 sqft
  7. 2 beds, 1 bath
    Home size: 840 sq ft
  8. 3 beds, 1 bath
    Home size: 1,501 sq ft
    Lot size: 5,998 sqft
  9. 2 beds, 2 baths
    Home size: 922 sq ft
    Lot size: 1,960 sqft
  10. 2 beds, 2 baths
    Home size: 955 sq ft

See all Real estate in the city of San Jose.
(all data current as of 11/20/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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Mary Pope-Handy
Realtor
ABR, CIPS, CRS, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
License# 01153805


Selling homes in
Silicon Valley:
Santa Clara County,
San Mateo County, and
Santa Cruz County.
:
Special focus on:
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Saratoga, Campbell,
Almaden Valley,
Cambrian Park.
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Santa Clara County Real Estate,
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Best Realtor blog award
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The 2009 Sellsius list of top 12 women real estate bloggers
2009: Sellsius list of top
12 women real estate bloggers


Mary Pope-Handy's Live in Los Gatos blog won the 2007 Project Blogger contest, sponsored by Inman News and Active Rain

2007: Mary Pope-Handy and Frances Flynn Thorsen win the Project Blogger Contest for Mary's Live in Los Gatos blog. The contest was sponsored by
Active Rain and Inman News.


Non blog award


Best real estate agent in Silicon Valley from the San Jose Mercury News poll of readers in 2011
"Best real estate agent
in Silicon Valley"

2011 readers' poll,
San Jose Mercury News

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