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How to handle multiple offers and bidding wars on my home is a question lots of owners ask real estate agents in a hot seller market. Here is how to deal.
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Bill Gassett
July 31, 2017 12:07 PM
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Without a doubt real estate markets all around the country are favoring home sellers at the moment. In many locations home values have risen dramatically.
Pricing is going up due to a significant demand for housing coupled with low inventory. These two forces have come together to create the perfect storm for sellers.
Buyers on the other hand are being locked out of being able to purchase a home. In fact in numerous locations there are multiple offers and bidding wars on homes. Given this environment, sellers need to be cognizant of how to handle multiple offers and bidding wars.
There is no set rule of thumb which is why I have gone ahead and created a detailed article over at Maximum Real Estate Exposure.
In the article you will learn all the different scenarios on how to deal with multiple offers at the same time. As a seller you should be aware that the highest offer is not always the best offer for a number of reasons.
This can be especially useful information to have when a buyer is using an escalation clause. Believe it or not some homes can sell for more money than they should!
You will see quite a few tips on how to ensure the best outcome when dealing with multiple bidders.
By using these tips, you'll ensure that you actually end up having a closing. Some sellers make mistakes by choosing an offer than never successfully gets to conclusion.
If you enjoy the advice, please give the article a share on your social sites or Scoop.it here!