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!

Real Estate Advice from Ellen DeGeneres

Buying a Pittsburgh home? Click here to search Homes for Sale
Selling your Pittsburgh home? Get a free Home Price Evaluation

I love The Ellen Show, and watch whenever I’m able to. The other day, I was watching the show and Ellen was talking about how much she loves real estate and how much she enjoys buying and selling homes. She said she knows that people often don’t know what they are getting into when they go to buy a home, so she is here to help.

I encourage you to watch the full video above, as I can’t quite capture Ellen’s unique wit and humor in my writing, but I will try. Some agents will do whatever they can to get people to see a home, including providing misinformation about the home. Here are some buzzwords and phrases that Ellen says you should watch out for if you’re looking for a home:

• Potential: As Ellen puts it, this could mean that the home “has the potential to turn its yellow mold into black mold.”

• One-of-a-Kind: This is another word to look out for. The reason the home is one-of-a-kind is maybe because the builder is now in jail and can’t build any more homes.

• Cozy: When an agent uses the word cozy, cozy means tiny, small, and cramped.

• Seller is Motivated: A nice way of saying: “This home has been on the market a long time, and we’ve lost all hope of selling it.”

• Classic, Retro, Original: All of these words mean “old.”

If you have any questions for us about what you should be looking for in a home search, give us a call or send us an email. We would love to help out any way we can.

Finding a Wexford Home Is Easy If You Know Where to Look

Buying a Pittsburgh home? Click here to search Homes for Sale
Selling your Pittsburgh home? Get a free Home Price Evaluation

The Internet has dramatically simplified the process of searching and finding homes. Websites like Realtor.com, Trulia, and Zillow have all been instrumental in allowing the average consumer to look at properties and learn more about their local real estate market.

While these websites are great resources for beginners, I wouldn't recommend them to everyone. The information presented is often inaccurate and outdated. Zillow is notorious for their inaccurate home valuations, which can be up to 10% off depending on the home and the neighborhood.

So, what are better places to look for homes online?

One of them is the MLS (multiple listing service), but you need access from your local Realtor and it is not so easily navigated. This is the most accurate source of homes on the market, but it may not be the easiest for you.

The best option you have is to subscribe to expert advisory emails. These give you all the brand new listings, and the best homes are displayed right to you. To get started, you simply fill out a questionnaire about what type of properties you're looking for, and when similar homes pop up on the market, you're notified about it. It's very simple and accurate.

If you need help looking for homes in Wexford, please don't hesitate to contact me. I'm always here to help you with your real estate needs!