Outbidding another yid

amother

Lawngreen

Mon, Apr 20 2015, 10:32 am

I am interested in a house. Another very nice family wants it as well, they gave an offer a few hours before us. Why is okay for me to try to snatch it from them by outbidding them?

If I have true ahavas yisroel then I gladly let them have it. And if I really believe that G-d will take care of me as well, then I should feel secure that everything will work out for me in the long run.

Am I crazy for thinking this way?

acccdac

Mon, Apr 20 2015, 10:38 am

I understand your thinking but I dont think there is anything wrong as long as you are working honestly.

if you are willing to make unusual helpful offers that you would not be willing to do in another situation then I would say no.

For example, if you would usually want a 60 day escrow, highest budget is $500,000, and would be nitpicky about inspection....If you were to offer $550,000, a 30 day escrow (because the seller wants that) and you pass on many of the problems during inspection then yes I would say you are doing something wrong.

SRS

Mon, Apr 20 2015, 10:46 am

Talk to a Rav. But I've never known what the other families have bid. We put in our offer with our escalation and they do the same and then someone gets the home when the seller sees the offers. A lot of factors can go into the seller accepting an offer and a seller might even accept a lower price offer if they feel that the bidder is a better candidate, less likely to fall through, offers more cash at closing over loan so the process can move quicker, is easier to work with. A lot of things do into accepting an offer and the bid is the biggest factor, but not the only factor.

It is possible there could be multiple bids on the home and the other family is one of 4 or 5.

imokay

Mon, Apr 20 2015, 12:15 pm

And it's possible they will go back to bidder with your bid and ask them to meet it. And just because a broker says there was an initial bid doesn't always mean that it's true, sometimes it's a business tactic. I would say, just bid the best you can bid. If you do ask a rav, please post his answer. But either way, it's really nice of you to be that thoughtful and caring!

amother

Hotpink

Mon, Apr 20 2015, 12:18 pm

I'm a frum seller- all the "bids" have been frum pple. if noone is willing to put a bid in just because someone put a bid in which might be very low- I'd be in trouble....
just a different angle

Mrs Bissli

Mon, Apr 20 2015, 4:20 pm

Outbidding another yid? That's what happens EVERY Shabbat and YT in some kehillot where they auction off aliyot and mitzwot.

imasinger

Mon, Apr 20 2015, 8:11 pm

Go ask your rov
If you're forbid
From lowering
Your initial bid
The truth seems hid
Is what you did
Allowed when it's
Another yid?
Or on our care
Is there a lid
Such that it's fine
For you to bid
For, after all
Another yid
Has just undid
YOUR lowest bid.
Although in rhyme
I kind of kid
I hope you gave
Your very best bid
And won this home.
I hope you did.

amother

Burgundy

Mon, Apr 20 2015, 8:56 pm

We have been trying to by a house for almost a year, and our problem is that the frum investors are putting in high bids and paying cash and then reselling it for a profit. If we find out a house we wanted went to an investor it's very hurtful, but if a homeowner gets it, then the feeling is good for them, let's keep looking. So what I'm saying is, that's how buying houses work, but don't step on people on purpose because you can.