What advice would you give to the buyer if you were in a Multiple Offer situation?
Often times we are in a competitive situation and we need to help the buyer get the property. What do you say to the buyer?
My answer is very simple to this question. I tell the buyer when they are in a multiple offer situation simply decided what is it worth to them to get the property. If they offer let’s say $5 or $10,000 above the asking price it should be the amount that when they go to sleep tonight and wake up in the next morning and they did not get the property and they will not feel bad, that they should have offered more. They are happy they gave the best offer i.e.: what they thought it was worth for them to get it for.
Needless to say I was thrilled that the Seller chose my buyer’s offer even though she only went a little over the asking price i.e.: only $6000 more. The seller and the agent liked her Credit Score… over 805 FICO and a large down payment. Clearly this was a winning formula!
Sadly this is not always the case. This time it was and both buyer and seller were thrilled!
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at email@example.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.