How to Win in a Multiple Offer Situation

Becky Ivins Movers Real Estate Podcast

Not everybody is a competitor. Sometimes in a multiple offer situation, you’ll have people pull out just because they don’t want to compete. If buyers back out, you may not end up in a multiple offer position in the end. But how do you get your offer accepted? The first thing to do is to look at the value of the property you’re interested in and figure out the highest price you are willing to pay for that property. You want to make sure that you put down a substantial amount of earnest money. Price rules—and not just your purchase price. Your price at the bottom line rules as well. If you can afford to pay your closing costs instead of asking the seller to pay them, then do that. It’ll put you ahead of other offers that ask for those closing costs to be paid. “Price rules, but not just the purchase price.” Closing dates are pretty important. It may not matter to you when your closing is, but it might matter to the seller. If you can, indicate in your offer that the seller can choose the closing date at their convenience. Make it easy on the seller if you can, but do not eliminate anything that is truly important to you in the purchase agreement. A truly experienced Realtor can look at your offer and help you make sure that what you’re submitting to the seller is the highest and best offer that you can give them. Many times buyers don’t realize that the demands that they are putting into the contract are taking money away from the seller’s bottom line, and could hurt their chances of getting their offer accepted. If you have any questions or you’re looking to buy or sell a home in our area, give me a call. I’d be happy to help!