Many of our clients are excited about the state of the market and yet they are questioning what happens if they find themselves in a multiple offer situation. Clearly multiple offers can be stressful for buyers as well as for sellers; let’s focus on the buyer side of things for now. You have found your perfect “place to call home” and you are ready to write that offer… Then… You find out there are other buyers who also want to call this property their home! Yikes! Well, fear not, there are several things we can do to make your odds of securing the home more likely!
1) Write it clean and be non-contingent. Coming in contingent, asking for closing costs and trying to get a better price in multiple offer situations is not advisable, in most cases. We always evaluate the market before writing an offer, and it is likely that if several buyers want the property, it is priced right.
2) Ask about preferred closing timeline. Does the seller have a preferred date for moving? Can you be flexible? This is a term that will often come into play when the seller reviews offers and if you can be flexible, you just might win!
3) Write a “love letter.” It can be seen by some as cheesy, but to a seller with a lot of emotion and many memories tied to the property, letting them know a bit about you and why you love the home can be a game changer (add a picture for extra effect!).
4) Hire a proactive buyer’s agent. A good agent will not just email over an offer with no word of explanation or rapport building. Listing agents want to know who they are going to be working with. A great buyer’s agent can build a relationship with the listing agent that will encourage them to feel comfortable working with them, and with your offer, over others that they know nothing about. They do not want the deal falling apart, so a proactive buyer’s agent shows they will work hard to make the transaction a smooth one.
5) Offer over list price?? Sometimes, when you know a property is possibly even under priced, or there is high competition, you may have to write your offer for over the listing price, if you are able. This is case by case yet can be a necessary step in winning. There are many other helpful tricks we use to win in multiple offer situations and each scenario is different. We endeavor to find out as much as we can ahead of time to ensure we are structuring the best and strongest offers for our clients and we have had great success in winning for our buyers! Call us today to find out how we can structure your move and make it a successful one where we handle all the details and close with smiles. 😊
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