As you may have heard, the real estate market is incredibly busy. A lot of our buyers are running into multiple offer situations. How do you win?
First, make sure you are pre-approved and that you have a letter in hand. If a seller receives two offers and only one has a pre-approval letter, they will obviously go with the pre-approved buyer.
Let’s say you have two offers and both have been pre-approved. One buyer got pre-approved through a local bank, and the other worked with an out-of-town bank. Any Realtor will tell you that working with a local lender is incredibly important.
Our team works with several lenders on a daily basis, and we definitely trust them. It is much easier to get things done when you work with someone local. Local lenders close loans faster, and there aren’t as many headaches during the closing process. Why complicate the biggest purchase you will ever make by working with someone from out of town?
Another tip for buyers in multiple offer situations is to be flexible. Sellers don’t necessarily go for the offer with the best price. Other factors often come into play. Some sellers might not want to move until school is out, so if you can be flexible with your closing date, you will have the advantage over other buyers.
The main thing you can do to win in a multiple offer situation is work with a professional real estate agent. There are a lot of new agents in the market and selling real estate can be a complicated process. Last year, our team sold over 500 homes, so we have lots of experience negotiating the right deal and helping buyers get the keys to their brand new home.
If you have any questions, give me a call or send me an email. I would be happy to help you!