Today we’d like to share a few tips for buyers looking to win in multiple-offer situations. It can be difficult to make your offer stand out above the rest, but doing so becomes a little easier when you follow these helpful hints:
1. Sell your home first to eliminate unnecessary contingencies. If you’re a first-time buyer, then you’re already at an advantage, since you don’t have a home to sell to begin with.
2. “Play nice” with the seller. Be flexible during negotiations. If you aren’t willing to meet the seller in the middle, they may move on to another buyer who they find easier to work with.
3. Find out what’s important to the seller. Whether it’s getting a high price or closing quickly, knowing what’s motivating the seller will help you craft the strongest possible offer.
Knowing what’s motivating the seller will help you craft the strongest possible offer.
4. Share the love. Sellers are often very emotionally connected to their home. Therefore, you shouldn’t be afraid to appeal to that side of them. Consider writing them a letter explaining what their home would mean to you and your family.
5. Prepare for a counteroffer. Even if the seller likes your offer from the start, their agent will probably advise them to push for a better price, better terms, or some other similar concession. Don’t be surprised when this happens. Consider a counteroffer a sign that the seller is seriously considering you as a buyer.
If you have any other questions or would like more information about how our team can help you make the most of your real estate goals, feel free to give us a call or send us an email. We look forward to hearing from you soon.