The Curse of The Crazy-High Offer That Dies

Have you ever received an offer on a property (or anything) that was CRAZY-high and then it all fell apart? Often what is too good to be true is just that: too good to be true!

The danger of receiving this kind of offer is that it spoils your judgment and casts doubt on what you thought something was worth. Maybe you under-priced or under-valued something so dramatically that you could be losing it? Sellers become instantly spoiled by a crazy-high offer: if that falls apart, EVERYTHING afterward is going to sound like a compromise. It could feel depressing. Those who believed in us before might lose confidence in/distrust us.

The bottom line is, an offer is simply an offer. It is almost valueless until it actually closes or at least until there is a funded contractual agreement signed. Most crazy-high, too-good-to-be-true offers are fantastic…..but they are simply fantasies and not reality. And if they fall apart, they are mostly meaningless. Just because one individual proposed something that was magically substantially more valuable than every data-point or rational thinking suggested does not mean it was real if it never was consummated.

Fantasies are divine, but often they can deliver extreme emotions: Extreme elation when the offer comes in…..followed by misery when it falls apart. The best is to never believe or bank on a fantasy offer until it actually closes.

-Leonard Steinberg