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Well, we lost out on #4. :(

Man-o-man, this is rough. The 3/1 house was put up for $595, but because it was so close to Atherton (1 block away), showed beautifully and was next door to new construction million-dollar plus homes, we knew it would go over asking. Everyone who saw it said, it would easily go for 650, it was that nice.

We figured that if there were 10 offers, there would be one or two clueless numbskulls who would offer asking or up to 650k. We figured the majority would offer over 650k up ot 700k to assure themselves a spot. On the far end of the spectrum, we figured there would be maybe one or two would offer 700 or 705. Given that analysis, we figured we needed to be aggressive and put in a complete no contingency offer at 725k. At about 8 or 9pm on the day our agent presented the offer (each agent was given 10 minutes, our agent's pitch stretched into 20min, which we thought was a good sign), we got a call from our agent on his cell phone. He said the seller's agent was on his other line giving us the opportunity to revise upward our offer. There were 16 offers, several w/ no contingencies as well. Counter-offer? Are you kidding, we had 10 minutes to make a split decision. What would make them happy, our agent asked. What would we be willing to go up to, their agent replied. What would they need, said we? Back and forth... Somehow the selling agent mentioned a hypothetical 750. Our agent asked us what our drop dead number was. We said 740. The seller's agent said, oh well, never mind. Wait! Wait! Ok, 750! 750! ...nope, too late. goodbye...

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