10/18/2024
One thing we thought we left in 2021? Bidding wars. 💰 The truth is, bidding wars are still very much a thing in 2024. I just had a client experience this last month. We had to beat six offers to get their dream home. (Did I mention we even beat a cash offer that was higher than ours! 👊 So happy for them!!)
If you’re a prospective home buyer, you’ve likely heard about the chaos they bring.
Here’s what I’ve seen work best in these situations.
1. Be fast on your feet! To me, that means you’re paperwork ready with a pre-approval letter in hand. You know your wants vs. needs. So when the right house comes along with all your wishlist boxes checked, we’re ready pounce.�
2. Embrace limited information In a perfect world, we’d know every last detail about the listing, but in some cases, there won’t be time to look into it before offers are due. That doesn’t mean you’re going in blind - If your offer is chosen and you go under contract, you’ll have the inspection period to do more thorough diligence.�
3. Present your best offer at the onset. You may need to put it all out early without knowing what anyone else offers. Don’t hesitate to go for it — in many cases, buyers don’t have the luxury of amending an offer later.
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4. Keep the seller in mind. We’ll do some investigating to understand what’s important to the seller and submit our offer with their motivations in mind. This could look like a shortened closing timeline, a leaseback or a larger earnest money deposit.�
Lastly - Choose a savvy agent 😉 with experience to guide you through the process to help put you in the very best position to win! Strategy makes a big difference and sometimes even trumps purchase price or cash in a multiple offer situation! 🙌 DM me with questions anytime! ☺️🫶