We are, at least for the moment, in a seller's market. I set 10 showings on Saturday in the Fishers and Carmel Real Estate area and five of them were sold. I have a home for sale in Fishers where we accepted an offer and I had two other interested parties that just waited too long to write the offer. I wrote an offer last week and was in a multiple bid situation. Things are selling!
I wanted to talk about the "multiple bid" or "best and final" situation. This can be scary for a buyer because they feel like they can't get the "deal" they have heard is out there. Many buyers don't want to get into a bidding war. And some feel they will over pay for the home.
A best and final situation means that the seller wants to see each buyer's best and final offer to make the best decision for them. Best and final isn't just about price.
It is about the type of financing, how much you are putting down for the down payment and the earnest money, it is about the closing and possession dates and whether you are asking for items such as washer/dryer, closing help, etc. There are many pieces to best and final; not just the price.
I would encourage each of you to participate if you find yourself in this situation, IF you love the home, neighborhood and it is affordable.
There is a strategy to bidding in this scenario and using an experienced Fishers Realtor® will help you succeed! I have won in almost every multiple bid situation I have been in because I understand the dynamics of how an offer should be structured to be the best option for the seller.
This is bound to happen frequently in the month of April as many first time buyers and repeat buyers try to get under contract to take advantage of the tax credits available to them. Remember that we offer the first time home buying class every month on the last Thursday of the month. I hope to see you there!
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Cindy "in Indy" Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
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