There are many real estate blogs written about what you should do in any given situation. Real Estate market fluctuates from county to county, state to state across the country. While that may be true but multiple offers during the spring market is not an uncommon trend in the housing industry.
Here are my top 3 way to handle the multiple offers in any real estate market:
1. Reputable Lender - Yes, we all need to submit an offer with an approval letter. But having a reputable locally known lender will add weight to your offer. Along with strong pre-approval if your lender can do basic underwriting (desktop underwriting) that can help further elevate the sellers concern about your loan qualification.
2. Flexible Closing date: Spring is the time when many sellers want their kids to finish their school year while living in the house. However, home sellers don't want to miss the boat of HOT spring market. As a home buyer if that is your situation may be a rent back or an extended closing may help you leverage your contract. Or if your situation is another way around your lease does not end for another few months and sellers want to close NOW be flexible.
3. Personalized Letters: Believe it or not it does work!!!! Even if you are not a writer just putting a few words in a letter to the home sellers may work in your favor. Obviously, this has to support a competitive pricing also. If all is equal sometimes having an emotional touch goes a long way to an emotionally attached home sellers in making a decision.
Happy spring real estate market!!
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