Friday, June 22, 2018 / by Andy Mandel
Today we’re going to talk about how you should be handling a multiple offer situation as a buyer. Here are four of our best tips:
1. Get fully pre-approved by a reputable, local lender. By getting fully pre-approved up front with an experienced lender, there’s a good chance they can actually push your loan through underwriting and allow you to present an offer that’s basically as good as cash. This will really help your offer stand out. We have great recommendations for you if you need one.
2. Reduce the number of contingencies in your offer. For example, shortening the inspection period to five to seven days from seven to 10 days will really help your offer stand out. Most good inspectors can complete an inspection with a one or two-day notice.
3. Make sure you’re working with an agent who’s handled this type of situation before. Here at the Mandel Team, we sell about 70 homes a year in the area so we’ve done this plenty of times. We see multiple offers constantly, we know how to handle them properly, and we are able to get our offers accepted over the competition because of our reputation.
4. Make your offer personal. Maybe include a picture of your family or tell a personal story about your family and why you fell in love with the house. If you can appeal to the seller’s emotion, you have a better chance of getting your offer accepted among others.
Those are our best tips to help your offer stand out in this market. If you have any questions in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.