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How To Win In A Multiple Offer Scenario

Monday March 28, 2022

Buying a Home

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Multiple offers aren’t going anywhere, and if you’re a buyer right now it is adamant you put your best foot forward if you are looking to get into the housing market this year.

Forget The Asking Price

The MLS price can be arbitrary as sellers tend to list way below their goal price to generate multiple bids. Have your agent pull recent sales to get an accurate idea of true market value.

Make It Clean

Sellers want to reduce their risk when picking an offer. This means if they are choosing between identical offers but one has conditions, they’ll often go with the clean one. This doesn’t mean you shouldn’t protect yourself – do a pre-home inspection and get the bank’s approval before inking a deal.

You May Only Get One Chance

Three years ago, you would have been negotiating with the seller. Nowadays, your first offer is often your last, so make sure it is your strongest offer.

Get Personal

The listing agent often receives offers without ever talking to the agent that submits it. Making sure your agent is asking important questions, like preferred deposit, closing date, and learning about the seller, can help you have an upper hand when it comes to offer night.

 

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