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Home » How to Win the House When There are Multiple Buyer Offers – Real Estate Buyer Advice

How to Win the House When There are Multiple Buyer Offers – Real Estate Buyer Advice

Are you getting outbid or losing out to multiple buyer offers? You’ve been missing out on homes that you really want. You are getting outbid. It’s crazy out there. Are you fighting multiple buyer offers? So in this video, I’m going to be sharing with you five Solid tips to help you. The buyers, win at the table.

So you put multiple buyers offers out there, You’ve been missing out on those bidding wars. Okay. Here are five solid tips for you. How to win at the table.

Number 1: Narrow down the area that you want.
Look, put all your eggs in one basket and watch it like a Hawk. So what does this mean? Well, instead of flooding around all these different neighborhoods, looking for this house over here and this house, over here. There’s usually a neighborhood that you prefer. So stay focused on that neighborhood. Now get up early walk, the dog 6:00 AM. Look at all those updates that we’re sending you. Look at all the social media feeds from agents like us that are sharing off markets and coming soons. So you can be the first one, to see that new home that’s coming to the market. And you think I’m joking when I’m saying walk the dog but get up early, walk the dog around that neighborhood that you want to move into and look for those telltale signs. For example, is there a moving van outside, is someone painting their home, is the Gardner doing an extra spacial job to spruce everything up. Those are all the telltale signs, that someone in the neighborhood you’re looking at is going to be wanting to sell soon.

Number 2: Be all cash, but you’re going to say, Hey Kiwi what if I need loan? What if I can’t be all cash? Well, this is where we’re getting a loan commitment instead of a prequal so vital in today’s market. So what’s the difference? Well, real quick a prequal is really hey you breathe in the mirror. Maybe they check your credit. You tell them where you work, and anybody can produce a prequal. But a loan commitment is when you submit all the paperwork that you would normally put together, for a loan package and I’m talking credit, bank statements tax returns, all that W2 10 99 information so that a lender can go through, give you a loan commitment, subject to a house. Now you can behave like an all cash buyer because you are not really that contingent upon getting your loan approved. It’s already approved subject to that house being found. And of course appraising.

Number 3: Be the highest bidder but you might say, well Kiwi how am I supposed to be the highest bidder when I have no clue what other buyers are offering? This is our secret weapon. It’s called the Escalation Clause. You go in with an offer. The seller responds highest and best. So we’re going to put this up on the screen for you as a sample, but it basically says that you’re willing to go over and above the next bonafide offer by a certain amount. Maybe that’s 1000, 2,000 5,000 up to a cap so that you can be the highest bidder but never exceed your maximum.

Number 4: Get personal. Look buying a home is a very emotional business, not only for buyers, but also for a lot of sellers. And it’s not always about price that the seller makes his decision on. They often want to know, who’s moving into their neighborhood, That’s going to be a fit, for neighbors and friends who already live there. So get personal with a nice well-crafted letter. That explains why, your family would be a fit for the neighborhood. Go one step further too, and put together a nice photo Collage, Hey, you and the wife and the kids, and don’t forget the dog and the pets. People love that. And also our idea is to put together a little video we can do it for you. And that video goes to the seller. Remember these days with COVID, we don’t have the access in presenting offers that we used to. Presenting buyers offers directly to the agent and seller. So that video bridges that gap and allows you the buyer to really essentially have direct access and be able to tell your story to the seller highly effective. Remember you got to tag at those heartstrings.

Number 5: You’ve got to write an offer that can be accepted without a counteroffer.
So what does this mean? Well, it means no low-balling. Sometimes you’ve got to be right off the bat at the asking price. And why not? If you know that five or six other buyers are interested in that home. That is a good place to start. What about seller choice of services? Make it, so that the seller can choose escrow and titled termite company, home warranty plan. And look, there’s a lot of things that you can leave out of an offer, that we would use to write in the air. For example, home warranty plans. I mean, do you really need one? Why not just pay for it yourself? And sometimes small things like that when a seller sees that the buyer is going to pay those costs rather than him, the seller be loaded up with all those costs, that can really change the emotional thinking of that seller. And in your favor. Also, contingency, look normally an offer if you’re got a loan and hopefully that loan, as we mentioned before is a loan commitment associated with it. You don’t need all those contingencies. You’ve got usually an inspection contingency. Hey, you’ve got to look at the home but there’s also a loan and appraisal contingency. These days with multiple offers, prices going above list price. Often, we’re beyond what homes are going to appraise for. So maybe you come in and don’t have an appraisal contingency because a lot of sellers worry about that. Sometimes if you’ve got that loan commitment you don’t even need a loan contingency. I’d never recommend not having your inspection contingency because you still got to check out all the as is conditions, in that home that you’re considering purchasing.

Don’t low-ball, write an offer that can be accepted. Get into escrow, Cause that’s the key. write that personal letter. Add some photos. And even if you miss out, don’t forget to get into backup position. Number one because you’d be surprised how many escrows fallout.

Marcus “Kiwi” Gualter⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣
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