How to Handle Multiple Offers as a Buyer – Lucky You
December 29th, 2014
Multiple offers are back! Please don’t run away – the Mission Possible Team has tips on how to handle the ride and WIN!
First of all, be happy in the fact that you want a a house that others value as well. That bodes well for the future sale of the home and says good things about the neighborhood. You have to be ready though!
1. Get your pre-approval letter from a lender before you start looking. There’s nothing worse than wanting to offer on a house and not being able to get a letter in time (it can take several hours up to a couple of days to get the letter as you’ll need to submit some financial data to the lender.)
2. Look at lots of houses! Perhaps 10-20 so when the right one comes on the market, you will have the knowledge to back up your feelings when you find a great house. Confidence is key.
3. Ask your agent to set you up on an automated search so that you will get email notifications immediately when homes come on the market that match your search criteria. The Mission Possible Team sets all of our buyers up on automatic IMMEDIATE search notifications.
4. Have a plan in place to be able to see the best houses within a few hours, and preferably the same day, of them coming on the market. The Mission Possible Team is READY!
5. Be ready to make your best offer. Your agent will give you comparable sales information and be able to advise you on a good offer depending on the situation (how many other offers there might be, the preferred timeline of the seller, any obvious repair items, what the market in general is doing, and of course how badly you want this particular home.)
6. Be patient. Sometimes it takes awhile to hear from the listing agent but rest assured knowing that the MPT is doing all we can within our power to make sure your offer is seen as the BEST.
It’s been said that luck is a matter of preparation meeting opportunity! Lucky you!