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Multiple offers on a house you love? Keep calm and call me!


Blog by Kim Twohey | June 25th, 2015


It is the situation that most Buyers dread: the house you want has received multiple offers.  Many people assume that this will only lead to overpaying by the successful bidder and disappointment for everyone else.  In reality, situations with multiple offers can be mutually beneficial for the Buyer and the Seller!

Homes are sometimes listed below their market value so when multiple offers occur, the winning bidder ends up paying fair market value for the property.  A good Realtor will help you to determine what the house is worth and make sure that your offers stay within that value.  Here is the really interesting thing about multiple offers:  sometimes it isn’t even about the money.

Sellers often have many reasons for wanting to sell their home and they are motivated by more than just the final sale price.  Here are a few factors that might motivate a Seller to accept your offer.

1. A flexible closing date

If a Buyer can be extremely accommodating on when they take possession of a house, they should let the Seller know that.  Can you move in right away?  Are you in a position to wait a few months?  Find out what will work best for the Seller and offer them exactly what they want.

2. Financing

A Seller dealing with multiple offers will not wait for prospective Buyers to confirm their financing.  Come to the table with this information already documented and provide proof to the Seller that you are financially able to purchase the home.  Ask your Bank for a loan preapproval letter that you can submit along with your offer. 

3. Conditions

When in a situation where there are multiple offers on a home, it is in your best interest to remove as many conditions as possible.  For example, it is unlikely that a Seller will hold the property until you sell your own home.  Can you be flexible on inclusions and exclusions like window coverings or appliances?   

Multiple offers do not have to be scary, overwhelming, or budget busting.  An experienced Realtor will guide you through the process as seamlessly as possible and help you to stay on budget.  Overwhelmed by the possibility of being one amidst multiple offers?  Keep calm and give me a call!