Competition for homes in the greater Boston area has been fierce this spring. Very few homes and many buyers has translated into constant bidding wars with only those willing to spend over asking price winning the home.
I have been working with a very nice young couple who were open-minded regarding the buying process. Fortunately for both of us, I spent alot of time educating them, showing them sold data for months prior to ever going to see the first home. I think that really is the key to not wasting each other's time. A buyer who receives sold data from their buyer agent via email for a few months will have a much more realistic picture of the real estate market.
After lengthy negotiations we won the bid in a multiple offer situation by formulating an offer that contained an "escalation clause" whereby the buyer's bid would increase by $1000 over the highest verifiable offer up to a capped price. This strategy is not utilized alot so many agents have not heard of this. Maybe I shouldn't be sharing my secret but this only works for certain scenarios and certain buyers.
Anyway, we are all very happy and hope the home inspection will not give us any surprises!
Please give me a call at 508-369-5131 if you'd like my help in winning your next home...
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