Q: How Can I Navigate Today’s Market?

In today’s competitive market, you need every edge you can get as a buyer, with multiple-offer situations so widespread. We have tips to help you compete, as well as tips for how to navigate multiple offers as a seller.

Pretty much every listing these days is receiving multiple offers. One of the most important things that sellers should be paying attention to is appraisals. Some of these offers are going $30,000 or $40,000 above asking price, but the home might not appraise to that price, and thus, the financing won’t go through. It’s not necessarily about the total dollar figure, the best offer could be one that’s full price with a lack of inspection or financing contingencies.

Many factors go into any individual offer. Oftentimes, the highest price may not necessarily be the best. Down payment, the aforementioned contingencies, and timing are all considerations that need to be made in addition to price.

When you’re a buyer competing against multiple offers, understand that you don’t have to offer the highest price. You need to find out what the sellers are looking for in an offer aside from price, and craft your offer to fit that.

If you are interested in buying or selling a home in the near future, don’t hesitate to reach out to us with any questions you may have. We would love to answer them, and we look forward to hearing from you soon.