In A Multiple Offer Situation There Is Only One Offer That Matters

And it's yours.  

What do I mean?   Don't worry about how many other offers might be out there, think only about writing the strongest offer you can the first time.  

In a multiple offer situation it often comes down to the sellers net but there could be something you can do to sweeten the deal that isn't all about the price.  For example has the owner said they need to find a new home? if so give them a reasonable time frame to find that home.  If you have lost out on a home or two they might as well.  If they are forced to make a quick decision it might scare them off.  Instead of 14 days offer them 30 days.

What about a rent back?  If the owners don't want to move until school is out consider closing as soon as possible and allowing them to rent back for 30-45 days.  Make sure you check with your lender as most VA and FHA loans do not allow a rent back for more than 60 days.

Provide a strong Earnest Money Deposit (EMD).  Even if you are using a VA loan with Zero down payment don't expect a seller to have confidence in your offer if you write a check for $500 or a $1000.  Remember the EMD will be applied to your HUD-1 as a credit and you could get most or all of it back at closing.  Of course the check you write will be deposited within 5 business banking days (per the contract) so be prepared to have the cash in the bank.

My recommendation is you have your contract prepared, signed and delivered electronically.  This assures a clean and legible copy for the listing agent and the seller's to read.  There's nothing more frustrating than having to reasamble pages from a fax machine or try and decipher handwriting when you have multiple offers to review.

Remember it's not about the other offer.  It's all about yours.  You can win in a competitive offer situation if your buyer's agent does their homework and you play your A game upfront.

 

                No Hassle-No Pressure-Just Straight Talk About The Northern Virginia Real Estate Market

If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones and CJ Realty Group, Inc a call at 703-346-2213. 

Military Relocation Specialist serving military families relocating to and from the Pentagon, Fort Belvoir, Quantico MCB and all of the Military District of Washington installations. 

Check out www.varealestatetalk.com and www.cjrealtygroup.com for more information.  

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