Multiple offers

The real estate market is moving quickly and because of that more and more buyers are finding themselves in multiple offers. If you’re a buyer, multiple offer situations are potentially more frustrating and can be more stressful depending on the timeframe and your previous, if any home buying experience. It’s hard to know exactly what to do considering only one offer will result in a sale. In most situations you will need to be prepared with a pre-approval letter, solid financing, earnest money and an offer that is at list or above. In addition it’s best to keep the offer clean, pay your own closing costs, remove any contingencies and/or reduce the amount of time for the contingencies you do keep without putting yourself at risk. Offer the best value you can comfortably afford, if you reach a number that doesn’t feel right stop. If you don’t get the house you can rest knowing it went for more than you wanted to pay.