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Our mission at Shawna's Home Team is to be your best resource for real estate advice. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about real estate. Subscribe to this blog to get the latest news on local market trends and receive expert tips for buying or selling a home.

Thursday, November 3, 2016

How to Win in a Multiple Offer Situation

There are two very simple keys to making sure your offer wins out in a multiple offer situation.

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If you’re a buyer and you find yourself in a multiple offer situation, I have two key tactics for you to follow that will help you win that home:

The first is to get pre-approved by a local lender before making your offer. This act will add a lot of credibility to your offer, not only because you got pre-approved, but also because you worked with somebody local. A local lender will have a lot more skin in the game to get your deal to the closing table.

The second tactic is to give a very small window of opportunity for your seller to respond. If you make an offer on a home today, whether you know you’re competing or not, do not give the seller 48 hours to respond. Don’t even give them 24 hours. A sharp listing agent will take your offer, show it to all the other listing agents who have seen the home, and use that as leverage to get more offers for their seller. By giving a small window of opportunity to respond, you can prevent this from happening and increase your chances of getting your offer accepted.

Give a very small window of opportunity for your seller to respond.

If you have any questions, feel free to email me or give me a call. I look forward to hearing from you!