After many weeks of hunting and searching, you’re finally ready to submit an offer on the home that fits you just right. You’ve probably seen the news stories about a hot real estate market and you’re curious how to compete if there are multiple offers on your dream home. Let’s dive in!
Yes, keep calm. We understand it’s much easier said than done. If you are entering this process with the expectation of multiple offers, you’ll be better prepared for the seller’s counteroffer.
Your agent (hopefully us!) will guide you on what steps to take for a counteroffer. This not only includes how to make your offer stronger, but also discussing whether the seller’s offer is worth considering.
And if you don’t even receive a counteroffer? Well, that’s why it’s a good idea to try to keep yourself from getting too attached. But don’t lose hope. This can happen to all of us, whether an experienced buyer or purchasing for the first time, you will find another home to love.
Appealing to emotion can be quite powerful. And sometimes, it’s so powerful it can help you snag the home you are after. Even if there’s a higher offer on the table, by working with the agent on the other side, your agent can help suss out whether such a letter would be helpful.
The news is full of recent stories where a seller is comparing two similar offers, and a personal letter accompanying one offer was enough to tip the scales.
We all know the Golden Rule, “Treat others the way you would want to be treated”. After your agent has found out what’s important to the sellers, be flexible and see how you can accommodate their needs. Maybe they need a longer escrow, so their children don’t have to switch schools during the academic year.
Ask your agent about other ways to make your offer stronger, such as paying a larger earnest money deposit. You’ll show sellers that you’re serious about buying the home.
Here at the Wolf Team, we’ve seen the whole spectrum of real estate markets, from stagnant to unstoppable. We know what to do when there’s multiple offers on the table. Let us be your guide next time you sit at the offer table. Give us a call at 858-722-6847 or use our contact form,