Offer Some Other Item Of Value

Oh, no! What happens now?

You' ve found the home of your dreams. but so has someone else! At this point, negotiation flies out the window, but there are things you can do to increase your chances of winning the bid. This must be in writing with signatures from everyone involved and a copy of this signed document must accompany your best and final offer. When this happens, the listing agent( in the State of Tennessee) must inform all parties involved about the multiple- offer situation. There will be a specific time to have all bids turned in to the listing agent, so everyone is playing by the same rules. They will choose the one that best suits their needs.

When all bids are submitted, the seller( s) and their agent will have a meeting to consider all offers. And surprisingly, it's not always the highest price that wins. Then the possession date might carry more weight. For instance, what if the seller needs more time to move? Let's consider a few ways to improve and strengthen your best offer: First of all, don' t panic! Do you really want or need this property?

Try to keep your emotions under control and use your common sense. Or. should you keep looking? Make sure your offer is as" clean" as possible. But, if this home is the one for you, then let's get busy and make your offer stand out from the crowd. This simply means that the fewer contingencies, the better. Submit a letter with the offer. from the lender stating your qualifications.

Be sure to have your financing in order. Perhaps you should also conduct your home inspection beforehand, clearing that possible contingency. It might sway the seller to your offer if you can give him/ her the time they need to move. Can you be flexible with possession? Make your best offer, but be careful about offering a price that is too high for the area. Consider structuring your offer to read" $500" over highest bid.

Most appraisals will take care of an inflated price, but be careful if you' re paying cash! This can make a difference, but you would want some sort of cap on this type of offer. There was once a lower bid that included" 2 Super Bowl tickets" if the offer was accepted. Offer some other item of value. And it was! Sit down and think about all the things you love about it.

What do you love about the home? Then write a personal letter to the seller. telling them what the home would mean to you and your family. These are just a few suggestions, but there are many more possibilities. Many times, the seller will have put a lot of themselves into the home. and want to know that the next owners will love it as they have! Much depends on the particular situation. I always enjoy hearing from you so, contact me with any questions you have!