There is a house that I want to get that I found out is pending, can i still bid?

Question

I called the acting realtor and they said the house is pending, it is no longer on their website but still on other realtor sites. Does that mean I can no longer place a bid on the house or can I make a counter offer? Is there any way I can get this house? Please let me know asap.

Answer 1

yes of course there is some way how you can get thet hause,by searching wre it is been gone or otherwise get an engineer to make your draem hause.

Answer 2

"Pending" has a lot of meanings.  In your case, it could mean that someone put in a bid already, or the bank realized that it was too early to put it to market, or the realtor has disagreements about the compensation package from the bank, or the original owner is still trying to get their house back, or someone found some environmental issues at the house and want to clean it up first, and on and on...

It is almost impossible to know the real reason why the property is no longer being marketed.  and don't worry about those other sites as many listing sites regurgitate listings from other sites to make it look like they have a deep database.

the fact that the house is owned by the bank is not always a good thing.  there's a lot of bureacratic junk that goes on within a bank.  you may have the sales efforts being run by an admin in one city and the decision on price being made by an executive in another city.  

Your best bet is to research the house as best you can (without spending money on engineer studies or title searches) and decide if this is indeed the house for you.  If you do want to go with this house, give the broker a written offer with your terms.  Price, financing requirements, days to close, contingent on clean environmental study, contingent on non-major structural issues, and contingent on clean title.  This way if the house does come back on the market, you are first in line.  And if it doesn't the broker will remember you and contact you if another one comes by his/her way.  

the worst that will happen is that you will be more knowledgeable about pricing and get into the flow of valuing a house and getting written offers out quickly.  that's the way the pros do it.

and remember to build in 5% to 10% discount from your value to negotiate.

Answer 3

Sometimes they will take backup offers. Call the REALTOR and ask if the owners would consider that. It could be that the buyer will back out of the purchase or be unable to get financing and the house will go back on the market. However, if you have submitted a backup offer you will have a good chance of buying the house.