6 Tips To Win In Multiple Offers

Dated: 06/12/2014

Views: 174

If you're buying a home in San Antonio's current hot housing market with multiple offers, you're going to want to stay competitive.

Your RE/MAX Pro Realty Group real estate agent can help you create the best strategy for submitting winning offers in your market.

Meantime, here are some general guidelines you can consider:

1. Get pre-approved. When you make an offer with a pre-approval letter from a mortgage lender in hand, you're ready to compete. A lender with name recognition and a reputation for on time closing will appeal to the listing agent. To go further, going with the listing agents preferred lender may help your cause.

2. Establish the top of your budget. When you determine the maximum amount you can pay, you'll want to search for homes that are priced lower than this number. This gives you flexibility to increase your offer. When you start at the top of your budget, there's no room to bid higher. 

3. Be ready to act fast. If you can see yourself living somewhere and your instincts tell you to submit an offer, do it as soon as possible. Sometimes your agent can write the offer right there during a showing. Of course, buying a home is a big decision, so if there's any hesitation, you're probably better off continuing to shop.

4. Stay as flexible as possible. This is especially helpful when it comes to escrow periods and closing times. If the seller asks to extend or shorten the process, rest assured if you don't follow their timeline, another buyer might. There are items on offer that can be perceived as being a serious buyer ex: limit option days, increase escrow money or allow a seller lease back. An experienced buyer agent can guide you through the eyes of a listing agent and seller. 

5. Appeal to the human element. State your case on a hand written note or email. Sellers are people too. Two identical offers could be decided by the seller’s perception of the potential buyer.

6. Don't give up. If your offer isn't chosen, you can present yourself as a standby in case the accepted offer falls through. But, of course, keep looking. You don't want to miss another great opportunity waiting around for other buyers to change their minds.

When you're ready to make your move, let a Pro Realty Group agent guide you.

Want to Advertise on this Site?

Latest Blog Posts

Tax Write Offs For Every Homeowner

Home isn’t only where the heart is, it’s also where tax deductions reside.Home values may still be depressed, but homeowners can rely on some sizeable tax breaks. “It really pays from a tax

Read More

Spring Home Maintenance Checklist

This year, many parts of the country have enjoyed such a mild winter that even in the Northeast, spring weather seems like it’s just around the corner—if it hasn’t arrived already.Take

Read More

Purchasing A Short Sale Property

When shopping for a home, you may notice that certain listings are labeled as short sales, short pays or pre-foreclosures. All of these terms mean the same thing: the seller is upside-down on his or

Read More

3 Tips To Lower Your Property Taxes

Here's a big heads up about a chance to save big bucks! In many jurisdictions, this is the time of year that you can appeal the property tax assessment on your home. Home values have fallen in most

Read More