Buying Real Estate

2 Tips for buyers in multiple offer situations

The first and most important thing to do is get a full loan approval.  I.E. pre-approved, not just pre-qualified. This way you prove to the seller than you are 100% ready, willing and able to purchase their home. Having this quickly makes your offer stronger than any other offers that are missing this piece.

Second, don’t even think about making a low ball offer. If you really want the home, and know there are other offers, you need to go in with the best offer you are comfortable making. Think to yourself, if I do not get the home, will I wish I offered more?  Your agent should pull the neighborhood comps as well as have a very good indication of where the market is trending. You may have to go over list price if you’re in a hot market. But – please know that sometimes it makes good financial sense to walk away and look for another opportunity. This is one of many reasons why hiring an experienced and trusted agent comes into play. They will help you make your decision –  should you go ahead and make an offer or walk away and find another home.

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