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Oregon Coast Real Estate Battle: Fighting to Get Your Property


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Secrets of the Season

Oregon Coast Real Estate Battle: Fighting to Get Your Property

By David Timme

(Oregon Coast) - The Real Estate market here on the coast, as elsewhere, can be especially confusing to someone new to the area and to the activity. It is helpful to know what is going on and why things happen the way they do to plan your strategy to get the property you want.

What to do when there is already an offer on that property that you want? OK, You have found your dream property and it is just perfect with all the amenities you have in mind. But when you talk to your Realtor you find out that it already has a contingent or pending offer on it made by someone else. It may not be the end of the road for you getting that property. A contingent offer is one that is contingent on another condition being met, like a loan being obtained or an inspection being passed, being subject to the occurrence of a specified but uncertain event. Pending is effectively the same thing a transaction waiting for something to occur before completion, not decided, determined, or established. While a property is either contingent or pending, first or subsequent back up offers can be made. If the first offer falls out for any reason, the next back-up offer in line will become the offer being made on the property.

The pecking order of offers are as follows: price - over price, full price, less than full price; type - cash offer, pre-qualified loan offer, offer contingent on finding loan; and time - offers with increasingly longer event periods and closing dates. These type offers within each of these categories represent declining attractiveness to a Seller and therefore are increasingly less likely to be successful in being accepted.

Condo Hotel Ownership in Seaside – An opportunity to share in hotel revenue!

Rivertide Suites in Seaside, Oregon. A condo-hotel that offers the amenities of a fine hotel, but also includes ownership of a vacation home on the north Oregon coast. It is a unique opportunity, as condo owners have an opportunity to share in the revenues of their unit.

Units have either spectacular, nearly aerial views of the ocean and city, or they gaze out at the lush forests of the coast range mountains. There are private balconies in all rooms, which come as studios or units with one bedroom or two - as large as 850 square feet. Each is fully furnished, full kitchens, complete with fireplaces, jetted tubs, pillow top mattresses, washer/dryer and wi-fi. Fully equipped exercise room, business center, and a large indoor pool & spa. Priced from $189,000 to $449,000, (with most in the $300,000 range.) When owners are not using their units, they may be rented out as hotel rooms, and owners may sh a re in those revenues. 503-297-3910. www.rivertide.primeplaces.net

If a property receives multiple offers at the same time, that is, more offers come in before the first offer can be presented to the Seller, all the offers are presented at the same time, and the Seller picks the best offer to negotiate with. Or maybe the Listing Realtor will inform all the prospective buyers that there are multiple offers and request each to make their best offer for the Seller's consideration. The Seller again picks the best offer to negotiate with.

If an offer is made, presented, and accepted by the Seller, and then more offers come in, the first offer is negotiated to completion before other offers are considered.

Stunning oceanfront homes in Yachats

Over bids, or bids exceeding the list price can be made if interest is high and other bids are expected to be competing for the property. It all comes down to a risk assessment in which the risk of other bids coming in being more attractive to the seller and how much more you are willing to pay to secure your place in negotiating for and buying the property.

Here's a list of things to have at the ready.

If you are a Buyer: have a Realtor selected, mind made up, financing arranged or be pre-qualified if needed, professional service providers selected, and time to take care of the details of the Sales Agreement offer. If, you are a Seller: have your home ready to sell, time to take care of the details of the Sales Agreement offer, and a place planned to go when your home sells.

Asking for fixes of problems with the property after mutual agreement has been reached is opening the negotiations back up for the sale of the property with the possibility that the Seller will fix the problems, the Seller will counter offer and negotiate, or the Seller will reject the requests and the sale will fail.

This is an ongoing column on BeachConnection.net, discussing subjects of interest relating to Oregon Coast Properties. In future issues we will be covering other home-buying subjects. Generally, we will cover anything of interest to someone looking for property in this area. Letters to this column will be answered, or the subject matter covered in future issues. If you like this column, see my ad below.

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THE TIDES BY THE SEA, Seaside. For over 80 years, The Tides has been a favorite of Seaside visitors. History meets modern luxury here. 51 oceanfront condos, individually owned and decorated. Find suites for couples, small apartments with fireplaces and kitchenettes, one or two bedroom family units with fireplaces, kitchens and dining rooms. There are wonderful oceanview cottages that sleep anywhere from two to eight people, with two bedrooms, some with lofts, fireplaces and kitchens.
Meanwhile, the heated outdoor pool, enormous grounds with picnic tables and location at the quiet southern end of Seaside make for some memorable means of play and repose. 2316 Beach Drive. 800-548-2846. www.thetidesbythesea.com.



STARFISH POINT is located on the Central Oregon Coast - in Newport - and offers only the finest in luxury condominium lodging. At Starfish Point, every unit is focused on the beauty of the sea and the beach.
All of the units boast two bedrooms, two bathrooms, designer kitchens, wireless broadband Internet, fireplaces, Jacuzzi’s and private decks - surrounding you in soothing relaxation. We have a friendly staff dedicated to high quality and superb customer service. 140 NW 48th Street, Newport. (541) 265-3751. (800) 870-7795. www.starfishpoint.com


Weiss' Paradise Suites & Vacation Rentals - Seaside

Unique Luxury Accommodations in Seaside. 1BR Suites, 1BR & 2BR Duplex Units and 3BR Houses, units for 2-8 people. Rent our entire property for 20-26. All units close to beach, river and Broadway St.
Suites are designed for two adults; vacation rental units for families. All units have kitchen and many have fireplace, deck and jetted tub. Enjoy comfy robes & slippers, luxury bath amenities, quality linens and more. See us on The Travel Channel's "Great Escapes" show in August 2006. 741 S. Downing St., Seaside. 800-738-6691. www.SeasideSuites.com


D Sands Condominium Motel, Lincoln City. Getting a free, fresh baked cookie upon check-in is just the beginning. Every room is beachfront, and it's all right up against Lincoln City's most famous stretch of beach, next to the D River. Each room, comes as a suite or mini-suite, and has a kitchen and balcony or patio. Some have gas fireplaces, while all have a DVD Players with movies available for renting (and movie rentals come with free popcorn). There's a heated indoor pool, a spa, and this fabulous beach is lit at night. Rooms sleep anywhere from two, four to six - including a deluxe fireplace suite. Gift certificates are available, and they offer special occasion packages as well. To make a reservation and see a virtual tour of the rooms, visit our website at www.dsandsmotel.com. 171 S.W. Highway 101. 800-527-3925.


Lincoln City Vacation Homes There’s something for everyone among this selection of wondrous homes: smaller homes with a view to a large house that sleeps 15. All the homes are either oceanfront or just a few steps away from the sand – all with a low bank access and fantastic views. Most are in the Nelscott area; one is close to the casino. You’ll find a variety of goodies, depending on the home: fireplaces, multiple bedrooms, dishwashers, Jacuzzis, washer/dryers, hot tubs, cable TV, VCR, barbecues; there’s a loft in one, and another sprawling home has two apartments. Pets are allowed in some homes – ask ahead. Each comes with complete kitchens so you’ll have a home away from home. Most have the seventh night free. Prices range from winter $85 to summer $230 per night. www.getaway2thecoast.com. 541-994-8778.


Four Interesting Oregon Coast Properties Listed for Sale A real castle, a business space with its own dock, two homes and a malt shop

Secrets to Buying a Home on the Oregon Coast There are a number of steps going through the realtor's office, the financial institutions and the escrow services - by David Timme

Oregon Coast Real Estate Watch: Finding Oceanfront Property A number of spots meeting the beachfront criteria are still available - by David Timme

Oregon Coast Real Estate Watch: Developer Brings Big Plans to Newport Various high-profile things are in the works, including a subdivision of 100 homes

New Resort of Vacation Homes Planned on Oregon Coast Olivia Beach has already broken ground in Lincoln City



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