Multiple offers are not uncommon, especially in an active market or in a market with a shortage of homes for sale. As a buyer, here are some strategies you should consider if you’re interested in a home that is likely to receive multiple offers.
- Make your best offer since the highest offer often wins.
- Limit contingencies to keep your offer as clean as possible.
- Ask for a fast closing date, since this appeals to most sellers.
- Meet the seller’s request for occupancy after closing.
- Consider increasing your earnest money deposit to show you’re serious… and give the seller a copy of the pre approval letter from your lender.
- Write the seller a personal note letting them know exactly why you want their house.
- Submit your offer quickly with a short acceptance window for the seller to respond.
A multiple offer scenario can be stressful, but with these strategies, and support from your REALTOR®, you can increase the likelihood that your offer will be accepted.
