How can you compete against multiple offers? Here’s how our team typically handles this kind of situation.
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Today I want to educate you on how to win a multiple offer situation. First, let’s start with getting to the property.
When you hire an agent to represent you as a buyer, you want to make sure that this person can meet you at a moment’s notice, even if it’s at night or on the weekend. When that perfect property hits the market, you want to be able to count on the fact that your agent can get you in.
That’s one of the big benefits of working with our team. If your agent is sick, on vacation, or just unavailable, there are always several team members who can go out to meet you at the property.
Once we get you in the property and you find out that there are multiple offers on it, how do you win? Here’s what our team does.
First, we are going to have a pre-approval letter from a reputable lender ready to go. Then, we can strengthen the contract terms in a number of different ways. We can up your option or earnest money deposits, or shorten the closing. What we decide to do depends mostly on the conversation we have with the listing agent to figure out the home seller’s motivating factor.
How we strengthen the contract depends mostly on the conversation we have with the listing agent and what the seller’s motivations are.
Finally, we like to include a personal letter and a picture. For most home sellers, this can be an extremely emotional process. When we submit a letter with you and your smiling family, we want them to fall in love with you. They want someone to take extra special care of their house and having that personal connection can go a long way.
If you have any questions for us about multiple offers or about real estate in general, please feel free to give us a call or send us an email. We look forward to hearing from you soon.