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We’ve been getting a lot of questions about multiple offer situations, and I’d like to speak today about how you can handle them as a buyer or a seller.
Here in Greenville we’ve seen 23% more sales over last year, and there is also 6% less inventory than last year. This is causing upward pressure on price, terms, and competitiveness, which is ultimately bringing us multiple offers.
The buyer side of a multiple offer situation is a competition, and I suggest that you communicate with the seller in order to make sure your offer stands out. Price is important, but matching the terms to the needs of the seller is one way to ensure that you win a home. Craft an offer that is tailored to that specific seller.
The multiple offer situation is much easier for sellers. My advice if you’re in this situation is to pick the offer that is most beneficial to your needs. It’s nice to pick the one with the most cash, but sometimes it’s nicer to pick the offer with the rent-back written into the terms or a buyer who is willing to forgo inspections.
If you have any questions about this topic, please don’t hesitate to contact me! I’m always here to help with your real estate needs in Greenville!
One Response to “What To Do As a Buyer or Seller In a Multiple Offer Situation”
How have you been my friend? I am glad to see that you have developed a successful team out there Greenvile. I feel like I can still hear you joking about how all DCA grads went to BJU and look how well it worked out for you :). I just came across your videos and I thought, let me check them out and I gotta say that they are great! I’ve been an agent for 10 years now up here in NYC and I love this career. Stay in touch and keep up the good work.
ps… (Check 0:46 of the video, its backwards 😉 …. Yes, I’m a ‘C’