There Are No Participation Trophies in a Brisk Market
While one buyer is trying to figure out the terms and conditions of an offer that needs to be submitted quickly to meet critical deadlines, another one is charging full ahead with a no contingency contract, getting the attention of a seller.
Educating clients on how to react to a brisk market is crucial, where sellers demand and get full price or more through multiple offer bidding wars. Some people are renting motel rooms in anticipation of eventually taking 'home' the prize.
Buyers must be ready to perform quickly at the advice of their trusted agent to secure a property. Any hesitation whatsovever can cost them an acceptance.
This is what is known as a seller's market and because of high demand, offering over list price is trending right now, especially when competing with other cash offers.
Of course, it is most important to have the buying power to pay over and above asking. Also, any difference between appraised price and list price will be buyer's responsibility.
As home buyer's navigate through this brisk market, encourage them to act fast, avoiding the trap of getting stuck on trivial details because only one buyer is awarded.
And no one receives participation trophies for failed efforts!
Looking to buy or sell a home in southern Utah? You need a top producer to help guide an informed real estate decision. Call me because Wanda Can help!