In Denver, where the inventory of homes has been low for the past couple of years, there is no such thing as lowballing, said Stacie Staub, founder of West and Main Homes in Lakewood, Colo., near Denver. Often, she said, homes go on the market on a Friday and are under contract by Sunday.
The market is so tight that Ms. Staub often recommends that people looking to trade up to a new home should first sell their own house, and then go shopping with cash. Sellers generally frown on contingency offers, which are subject to the sale of an existing home. When sellers are receiving multiple offers, they'll choose all-cash bids over contingency offers, she said: If you can't pay cash, it's harder to get your offer accepted.
Buyers are often so eager that sellers can negotiate a two-month rent back, she said, so they can live in their home, often rent-free, while shopping for a new one, Ms. Staub said.
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