I’ve been looking this the Denver/Boulder area. 15% over asking is pretty much normal at this point, and I’ve seen more than a few places go for 17-20% over. I was approved through a regular lender, but had to find another lender that offered an all-cash option since that’s what’s winning everything around here.
15%+ over asking, all cash, limited to zero-inspection, and increasingly 30-60 post closing occupancy agreements. Rough market.
The strange part to me is the appraisals, I used to worry about an appraisal gap, but I have yet to hear of a place that doesn’t appraise for the final selling price. When places are going 15-20% over asking, and appraising at that, you don’t have to worry about the gap, but I do raise an eyebrow at the process.
do you have a link by any chance?