Tuesday, May 11, 2021 / by Sandy Gabrielli
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If you find yourself in a multiple-offer situation for a home you love, here are some steps you need to take to make sure you're the one that ends up with the home:
1. Offer more than the list price. In a strong seller’s market like this, you may need to go all in all at once. Your agent will run a CMA to further analyze the home and what you should offer. A very attractive offer is a winning offer in this market.
2. Get pre-approved. A seller will not reject a fully qualified buyer to accept a higher offer from an unqualified one. Getting pre-approved also lets you know what your price point is to stay within your budget.
3. Waive any unnecessary contingencies. Proceed with caution. While waiving contingencies can make your offer so much more attractive, it can carry some risks as well. You might end up with a home with a crumbling foundation or leaky roof if you waive the inspection. If you waive the appraisal contingency and the appraisal comes in low, you’ll be on the hook for the difference. Sellers are looking for clean, simple offers, and contingency timelines always come into play.
The biggest tip I can offer is to know when to walk away. If you can’t make this house your home, there may be one right around the corner that will catch your eye.
If you have any questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.