You’ve got to be kidding, we’re still having multiple offer situations. Fortunately, or unfortunately, yes, we are still seeing multiple offer situations all over the place every week, every day, in lots of different price ranges with lots of different homes. So if you’re thinking of buying, I wanted to break down just a little bit of what you can. I don’t know that I want to say look forward to but maybe expect if you’re looking at a home and likely to run into a multiple offer situation.
So working with your buyer’s agent, you’re going to look at all of the homes that have sold in the area that are kind of comparable and get a feel for what homes are selling for. Now, if a home sold a year ago, it’s not really going to be a great comp. So don’t hang your hat on that and get hung up on what somebody paid six months or a year ago. I can almost guarantee you, the house that you’re going to buy is going to end up costing more than the same house sold for six months ago or a year ago. That’s just what the market is doing right now. So make sure that you’re realistic in what things are costing, what homes are selling for, and what you’re willing to pay. If the house is turnkey and doesn’t need anything that has a value beyond just the dollar amount of those individual fixes. So if that’s what you’re looking for a turnkey situation, give that the credit that it’s due, and go a little bit higher, knowing that you’re going to be able to move in and put your feet up. Rather than have to do a whole bunch of projects in the first month you’re living there, the more information you can find out the better.
So if you know how many offers, if your agent can find out how many offer their offers, there is anything that you can find out is going to help you. Keep in mind that it’s not always about price, you can add a lot of little details to your offer that are going to make it more appealing that might be the closing date, it might be inspection terms, it might be a rent back that the seller wants or needs. Or it may be something totally random, like, you know, they need to have an extra three weeks because they have to clean out the garage. The more things that you give them like that the more appealing your offer is going to be. But often it really does come down to price. So make sure that you are looking at current comparables with your agent and coming up with a price that is good today.
If you’re thinking about buying, and you’re curious about multiple offer situations, how they work, how to navigate them how to get the best deal for you, while also winning the house. Give me a call. I’d love to help we’ll walk you through it. And my goal is always to walk you through it a little bit before we get to the day that you find the house that you love. So they have a little bit more information to navigate those waters without just jumping in cold and having to swim. Give me a call. I’d love to talk to you.