Here are two tips for buyers when dealing with multiple-offer situations.
Here’s a circumstance we see often: Buyers are excited to buy a home, they look and look, they finally find a house they love, they submit an offer thinking they’ll stick it to the seller, then they receive a call saying that property has multiple offers. Now, instead of sticking it to the seller, they could possibly lose that dream home. If you find yourself in a similar situation, here are two strategies you should employ:
1. Play nice. This is the most significant tip of them all. People don’t like jerks or game players. In a multiple-offer situation, they will recognize if you or your real estate agent is being rude. Often, because of that, they won’t accept that party’s offer. Play nice; that means respond as quickly as possible, don’t use harsh language, and act business-like.
2. Find out what the seller wants. What do they need? Sometimes sellers want to sell quickly, and other times they need time to pack, so you can change the closing date depending on what they want. You could also increase the earnest money if the seller is nervous or shortens the option period.
These are just two of the strategies we use when we have multiple-offer situations with buyers. These strategies may just win you that dream home.
If you have any questions or want to learn more about how to deal with multiple-offers, please give us a call or send an email. We would love to help you.