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    Multiple Offer Situation When Purchasing a Home | The Sarver Group

    Multiple Offer Situation When Purchasing a Home | The Sarver Group

    In today’s market, multiple offers are becoming more common.  With the sellers market in full swing in this area, there are some strategies to help you navigate a multiple offer situation.  A balanced market is having at least 6 homes in the months supply.  In this area, we are less than 5 homes in the months supply within the past year.  First, be sure you work with a real estate professional.  The Sarver Group has a team of knowledgeable agents, that know the area and are always willing to go the extra mile for their clients.  It’s important to determine the homes value based on current trends.  If you know, or even suspect a multiple offer situation, plan to come in strong up front.  One important thing to remember is that sellers want to know that the buyer(s) are serious.  When you make your offer, come in with few contingencies as possible.  Make sure your agent has the full paper paperwork, ready to send.  So the seller’s agent doesn’t have to hunt down for more paperwork that would be needed for the offer.  Also, be flexible with the seller’s needs.  For example, pay attention if they want a leaseback or a longer closing date.  Make a personal connection with the seller.  Does writing a letter actually work?  Yes, yes it does!  Write the seller a heartfelt letter about the home you would like to purchase from them and how the home makes you feel.  Also, try to stay level-headed and not get caught up in a bidding war.  Not to mention you do not want to over bid and the home not appraise.  Now that your highest and best offer has been presented, there will be a waiting period for the seller’s agent to present to the seller, so you need to be patient.   If for some reason your offer does not get accepted, you can always be a Back Up Offer for the seller.   That means if the 1st deal falls through, your offer would be next for consideration.  Bottom line, do not be fearful of multiple offers, your agent with The Sarver Group can walk you through every step of the way.  For more information:  fill out the form below.

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