How To Handle Multiple Offer Situations
Thanks to consistently low housing inventory, the Central Ohio real estate market has favored home sellers for some time and that's likely to continue. For homeowners who have correctly priced and prepared their homes for sale, this means they could potentially get multiple offers. We're getting questions from both buyers and sellers about how to deal with multiple offer situations
Buyers are finding the current real estate market difficult because homes are selling quickly. They’ve often lost out on a home already, and want to find ways to make sure their offer stands out.
Sellers may be pleasantly surprised to find that their home receives multiple offers, but they want to choose the best offer that will not only be profitable, but that will also have the smoothest closing process.
What both buyers and sellers need to keep in mind is… the highest bid may not be the best.
Dealing With Multiple Offers In Central OH
There are other factors to consider. For instance, lowering stress during the move is also important. This is the reason why pre-approval letters from qualified loan officers give prepared buyers an advantage. Pre-approval shows the buyer is committed and ready, both financially and personally. It makes a deal less likely to fall through.
A few other things to keep in mind include:
Home sellers need to keep in mind that sometimes people only want to win, and that is why their bid is the highest. These potential buyers may not be serious about buying your home. Or, they may not actually be ready.
Get an experienced, local REALTOR on your side. For home sellers, an expert listing agent is your best resource for parsing through multiple offers.
If you’re buying, an experienced agent will help you make a strong, well-informed offer, then continue to negotiate on your behalf.
Have Questions? Ask Away!
We love to talk shop! So, if you have questions about dealing with multiple offers, please call or text us at 614-830-9767. We're here to help with your real estate goals in Central Ohio.