Competing Against Multiple Offers For Yo

Competing Against Multiple Offers For Your Home

ADDED ON July 10, 20130 COMMENTS

Multiple Offers On Your HomeHome buyers everywhere in Hawaii are bemoaning the lack of inventory and if you happen to be in the market to buy a home, there are a few things you must know.

When you find the perfect home, make an offer.

Don’t wait, and don’t price yourself out of the game.

Offer your best price based on having the right information, and include a high deposit, then share a few personal details about how you connected with their home and why you think it is the perfect home for your needs.

The offer you write may be your only and best chance to win the home, your home, and if you approach the Seller with the intention to win it, you are positioning your offer to stand out. Not all Sellers will choose to counter offer your original offer in this climate. Market value is what a Buyer is willing to pay for a property and only you will know what is most comfortable for you. Interest rates are still a solid justification to look at your purchase with the long term in mind.

In a housing market like ours, where inventory is low and homes are only staying on the market for a short amount of time, multiple offers are being submitted on the majority of homes that are priced in the “sweet spot”. Most are near or at asking price and some are beyond it.

Home sellers need to evaluate several offers and if yours is one of many (your agent ought to be able to tell you if other parties have indicated interest), it needs to stand out. That’s where your story comes in (along with your best offer on price and terms).

3 Steps to Writing the Best Offer For Your Home

    Show as much cash as you can in the form of an downpayment with the best possible price you are willing to pay based on area “comparables”.If you need lending, get pre-approved and formalize it by including a letter from your lender as part of your offer.Write a from your heart and explain your feelings about the house and what you like most about the home. If you have a  personal story, share it. Some home sellers are motivated by more than just price and if they can “see” you in the home, it will often make the difference.

Other things you can do...

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