Fighting Multiple Offers on a House? Here’s How to Win

This is the part of real estate I do not like, but in today’s market there are some homes that you have to deal with it. There are some simple ways to get your offer to the top of the pile. The article is from by Tara Mastroeni that has some great point.

“Buy the home ‘as is’
:Agreeing to buy the home “as
is” essentially means that you are agreeing to purchase the home in its
current condition and releasing the sellers from the responsibility of
making any repairs. It’s a very attractive option from the sellers’
point of view because it increases their net profit.”

This is the best way to get to the top of the list. Inspectors can be good and bad, some are just plain deal killers. Just because you purchased it as is doesn’t mean you cannot get an inspection it just means you are not going to ask for repairs. You have a 10 day inspection period that you can use for your inspection. Let the seller know you just want to make sure there are no major issues and you are getting a home warranty that requires an inspection. Most sellers will be good with that.

” Have your agent make a call
Your real estate agent’s job is
to make sure that your interests are communicated to the sellers
throughout the negotiation process”

This is very crucial I had multiple offers on a property in Lakewood Ohio. Me and my Seller met with all 4 potential buyers at the property. 3 of them where going to be more difficult in the inspection period. To me that is not a great sign, and it was an older property. One of the buyers was a seasoned investors that was adding to their portfolio and was very professional. I informed my seller that he might want to consider the seasoned investor over the rest. He did and the transaction went smoothly.

You agent really needs to know how to do both sides of a transaction in order to know how to get accepted contracts. Doing 100’s of transactions means that I have seen a few things in real estate transactions.

”  Keep financing clean
Where financing is concerned, buying a
property with cash is always attractive to sellers, if you can afford
it. Since a mortgage lender won’t have to get involved, the sale process
becomes much easier and there won’t be any worry that a loan won’t get
approved at the last minute. That being said, cash certainly isn’t an
option for every buyer. If a mortgage is a must, make sure that you
provide a pre-approval, so that the sellers know a lender has already vetted your finances.”

That is key when your financing 10%-20% down on a property really looks good on a contract. If closing cost are involved it can get complicated. Sometimes I have the lender call the selling agent to express my buyers credit worthiness.

Getting real estate in today’s market requires a seasoned agent that understands how to get homes. Being in the real estate market for 35 years gives my clients the edge they need to get their dream home and or investment home.


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