Spring is usually the busiest season for the real estate market. However, that changed this year when COVID-19 hit. Now, we’re experiencing one of the most active summer seasons we’ve seen in a long time, and that means an increase of multiple offers for desirable properties. If you’re in the enviable position of dealing with multiple offers as a seller, handling the situation thoughtfully can make all the difference. Here are few tips on how best to handle the process:
Last month we talked about how to navigate a multiple offer situation as a buyer. On the flip side, if you’re in the enviable position of dealing with multiple offers as a seller, handling the situation thoughtfully can make all the difference. Here are few tips on how best to handle the process. Continue reading
Multiple offer situations can be very stressful for both buyers and sellers if not handled carefully.
What exactly does it mean to be in multiple offers? As a buyer, it means there is at least one other buyer that has submitted an offer to purchase the same property as you. In some cases, there might even be several buyers involved.
When it comes to this scenario, the listing broker may advise the seller to request “best and final” offers. In this case, buyers are asked to submit their strongest offer by a set date and time, at which point the seller will review all offers, compare the various terms, and choose which one to accept.
If you’ve found the perfect home, this is your time to shine! Remember, though, every seller has different needs and goals in the sale of their home – just as you have your own needs and goals for your purchase. And this goes beyond just price. Continue reading