Wilmington NC Real Estate:  Buyer In a Multiple Offer Situation

 

 

 

More and more buyers are finding themselves in multiple offer situations and buyers are losing out.  Why? 

Foreclosures, short sales, and even equity sellers are providing wonderful opportunities for buyers. With pent up demand and high affordability, buyers are really coming out and snatching up good properties.  Investors are also scouring the deals daily. Here is how to avoid multiple-offers and how to deal with them if you find yourself in that situation.

If you find a really good home, be prepared to move immediately.  Funds should be relatively liquid or pre-approvals for loans should be in place.  

Low-ball offers can kill a deal quickly.  If you are not picky about your home, you can risk more.  However, finding the right home for you is not always easy and a low ball offer can cause a seller to refuse to deal with you-even if you up the offer.

If you are notified that there are other offers on the property and you still want to give it a shot, make a clean offer.  Offer no more than you are willing to pay and no less than it is worth to you.  You want to feel good about it if you win the bid and OK if you lose (because it simply was not worth any more than you offered).  It can be heartbreaking to lose the perfect home so be reasonable.  You agent should provide you with market data so you can be assured it is a fair deal.

One of the best ways to be first to a property is to sign up for a listing notification account.  We offer such a service in our Wilmington NC Real Estate area on our Home Search Site: www.HomeSearchWilmington.com