Thursday, July 7, 2016

Home Buyer Tips: Multiple Offers and "Winning"

I remember a few years back when I advised a Viera, Florida home buyer that there were multiple offers and the seller wanted his best offer.  He responded with a simple question,"Is this a scam?"

In the real estate world I must assume the existence of other offers to be real.  Realtors operate under a code of conduct.  Still, I have no concrete evidence of other offers.

Multiple offers happen frequently when it is a seller's market AND a property is priced right.  [Read Signs Your Home is Not Priced Right.]

Sellers who receive multiple offers are in the catbird seat - maybeOffers are more than price only.
Each offer must be evaluated independently. 

Still, regardless of "winning" price, if a mortgage is involved then the property has to appraise.
Those are words every seller and buyer should understand.

Just this week I had buyers get into a situation that involved multiple offers.  In this case my buyers understood the situation and knew what they were willing to spend.  That is the key point.

These buyers were not emotional.  They had not formed an attachment to the property. 

As much as sellers would like buyers to view the process as a competition, not all buyers fall into an emotional trap.

They did not. 

If you plan to buy a home in the Viera, Florida area I want to help.  I will make sure you understand the market, your budget and the home buying process