15/01/2024
Let’s talk about multiple offers!
When the sun is shining bright, and the spring peepers start to peep. The housing market starts to heat up…….this is usually Feb/Mar here on the coast of NC.
As Realtors we call this SPRING MARKET, aka the craziest market of the year. Here in coastal NC, we are also very close to Camp Lejeune which houses over 38,778 Active Duty
Marines and their families. As you can imagine, people are moving in and out of here quite often.
Spring market combined with the military moving season can lead to some very competitive situations when buying a house.
Here are my favorite multiple offer tips, not all having to do with extra money…..
1. No contingencies (no house to sell, no seller credits, no fancy asks) keep it simple.
2. IF You have a house to sell, get it under contract before you make an offer.
3. Inspections…do not waive these unless you really feel the need. However, you can do an inspection “for information only” meaning that you will not ask the sellers for repairs.
4. Appraisal gaps, offer to pay the difference if it comes up.
5. Deposits……here in NC we have a Due Diligence NON REFUNDABLE deposit. If you are serious about a house, you can go higher on this, just be aware it’s not being refunded (unless there are very rare circumstances that arise)
6. Use the seller's attorney, this can keep it streamlined and simple.
7. Offer to allow the sellers to stay after closing if they need extra time to move. Sometimes military families don’t have control over the movers. As a buyer try to be flexible with those timelines, and it can give your offer more pull.
8. Lastly…..offer more, over asking if you feel like this is THE ONE.
Kay Sears, Home Smart Connections
508-287-2747
[email protected]
