New Jersey’s red hot housing market has cooled off a bit over the last few months, but would-be buyers are still making eye-popping offers on homes they’re actually never seen before.
According to real estate agent Rob Dekanski of RE/MAX 1st advantage, who heads up the Rob Dekanski team, this is happening because after buyers initially enter the market they realize there is such competition they will have to act very quickly in making an offer on home to have a chance of actually getting it.
He said typically, after multiple bidding wars the buyer will start offering above the list price right away, sometimes way over list, then they may start waiving their appraisals and inspections and their offers get more and more attractive.