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It has not escaped anyone's attention that lack of inventory is creating a waterfall of challenges within the current housing market. It is the perfect time to maximize your profits if you have a home to sell, but where will you go? There are a few methods during the listing and offer process that sellers can utilize to safeguard themselves from being de-homed before their new property is ready.
As I wrap up my series on how to win multi-offer situations, let's recap some of the topics I've covered in this column over the last year. Although getting your offer accepted these days seems like it takes an act of God and a ridiculous amount of money, it does not. It is a combination of subtle negotiation tactics meant to find the perfect solution of simplicity for the seller. Figuring out what they need and what will make their lives easier will help your offer rise to the top.
Getting your offer selected out of a dozen others is a challenge. Agents are doing everything they can to be creative with their strategies to get their clients to stand out, but there is always one buyer who throws an outrageous amount over asking to create a situation where the offer is "too high to refuse". Is this always the best idea for a seller to accept?
Having a home sale contingency as part of your offer on a new property can sometimes devalue your offer in the eyes of the seller as it has the potential to complicate the closing timeline. Without adding extra money to the purchase price or deposit to make your offer more appealing, how do you make the home sale contingency less of an issue? There are two options.
Cash was King in winning multi-offer situations all Summer, which left a lot of my buyers frustrated and confused as to where all of these people are getting all of this cash?? Well, there are a few options available but most of them start with already owning a home with some equity to be utilized.
Whether you're just about to jump in to buying or selling a property in today's market, the first week is very overwhelming for everyone involved. Inventory is still a challenge so understanding timing and expectations is essential no matter what side of the transaction you're on.
So you're selling your house and, as your listing agent, I come to you with multiple offers after the first open house weekend. We select the best for our needs and notify the buyer, but how can we still protect ourselves if the buyer's financing suddenly falls through or a better option comes along?
With highest and best offer situations happening every weekend, selling a house has become more like an auction: buyers put together their best possible offer at the highest price within their budget. It would seem to sellers that they should always accept the highest offer on the table, but there is more that should be considered.