How to Avoid Losing a Multiple Offer Situation

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Recently, we talked to some frustrated buyers in the Wexford area. They were able to find homes that interested them, but when they made an offer, they found themselves beat out by a competing one. To help you avoid the same fate, we want to share some tips to help you make the most of these situations.

As soon as you find out that there are other buyers interested in the same property as you, your negotiating power shrinks substantially. The way you present an offer changes in this situation, and as your expert advisors, we would suggest taking a look at that list price and figuring out what is the best and highest offer you would be willing to make on the house.

But it's not only about price when buying. When you go to make an offer, you need to take a look at the terms and conditions, and decide what you can change and tweak to make the offer really stand out. If you can afford to put more money down, we suggest going in as a conventional buyer; if you can cut your 60-day closing timeframe down to 30 days, do it. These are things that are huge in the buyer's eyes and will make your offer stand out from your competitors.

The biggest thing we recommend to buyers is that they change their commitment date. If the commitment date is a week or two before the closing date, we suggest decreasing it to show the seller that you're serious!

If you have any questions about making the most of multiple offer situations, please don't hesitate to reach out to us. We would love to give you a hand!