Competing Offers - How to win!
How do you win in a Competing Offer scenario?
First you accept that in some instances, price will always be the final word. And no matter how well your offer is drafted, someone may be in a position to offer more money than you for the house. Having said that, there are a number of things you can do as the buyer, to ensure that your offer is not amongst the first to get rejected, so that if you are on similar cash terms, you’ll be in the driver’s seat:
- Make sure you get pre-qualified: Sellers will want to make sure you’ve got everything in order, they don’t want to ‘remove’ their home from the market for x number of days only to find out you can’t qualify.
- Show flexibility in the closing date: Make sure it aligns with the Sellers’ expectation, and demonstrate a willingness to work with them.
- Only take what's offered: Resist the urge to ask for more inclusions than what is already printed in the listing agreement.
- Show up for the presentation: Have your realtor present your offer, and be waiting outside the house in case they counter your offer.
Don’t lose that house; call me to ensure your next offer gets the attention it deserves!!
Image: graur razvan ionut / FreeDigitalPhotos.net
Posted by Szabolcs Pall
on March 29, 2010