With many Central Ohio homes for sale receiving multiple-offers, I find I am getting a lot questions from both buyers and sellers on what to do in a multiple offer situation.
Buyers are finding the current real estate market difficult because homes are selling so quickly. They’ve often lost out on a home already, and want to find ways to make sure their offer stands out.
Sellers may be pleasantly surprised to find that their home receives multiple offers, but they want to choose the best offer that will not only be profitable, but that will also have the smoothest closing process.
What both buyers and sellers need to keep in mind is… the highest bid may not be the best.
There are other factors to consider. For instance, lowering stress during the move is also important. This is the reason why pre-approval letters from qualified loan officers give prepared buyers an advantage. Pre-approval shows the buyer is committed and ready, both financially and personally. It makes a deal less likely to fall through.
A few other things to keep in mind include:
- Home sellers need to keep in mind that sometimes people only want to win, and that is why their bid is the highest. These potential buyers may not be serious about buying your home. Or, they may not actually be ready.
- Home buyers should be prepared with pre-approval from a qualified lender. In a strong seller’s market, consider showing you’re really serious about buying the home with a personal letter included with your offer.
- Last, but far from least… ME, your experienced Central OH REALTOR! If you’re selling a home, I can help you discern which buyers are serious and qualified.
If you’re buying, I’ll help you make a strong, well-informed offer. And yes, a real estate agent’s reputation does make a difference. I have an excellent track record for being fair and trustworthy.
Have Questions? Ask Away!
As a Columbus area REALTOR, I love talking real estate! Feel free to get in touch with me, Rita Boswell at 614-547-3229, and I’ll give you the inside scoop to help you buy or sell a home.