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7 Things To Do In a Multiple-Offer Situation

One of the fastest-growing areas in the country is Charlotte and its surrounding cities—from Fort Mill, South Carolina, all the way north to Mooresville, North Carolina. Around 120 people move to Charlotte every day and it’s one of the top ten places to move for millennials. According to The Charlotte Agenda, “City leaders expect another 385,000 people will move here by 2040.” Because of this growth, the market is experiencing a shortage of homes—which means most homes for sale will see multiple offers. Here’s what you need to know!

  1. Hire an excellent Realtor

    Find a full-time agent with lots of transactional experience, tons of five-star reviews, and knowledge of the area you want to buy in. Read the reviews. You’ll see if they’re a good communicator and listener as well as a seasoned professional. You need to be able to discern if a Realtor has an excellent reputation. Why is this important? Because when listing agents and sellers are evaluating offers, they want a strong, reputable buyer’s agent who will ensure a smooth, secure, and on-time transaction.

  2. Get your financial ducks in a row

    Be ready with a mortgage pre-approval or cash. Buyers want to know that you are prepared to close on time, so you must present an offer that is reinforced by strong financial backing.

  3. Write your best offer

    Go to your highest and best offer the first time. You need your offer to stand out. Low balling could hurt you because you’ll lose valuable time and another offer will be accepted before the seller ever gets back to you. Serious offers demand serious consideration.

  4. Submit an offer as free of contingencies as possible

    For example, if you can make your offer not dependent on financing, inspections, an appraisal, a home sale, and more, do it!

  5. Be flexible

    Simply put, work within the seller’s timeframe or someone else will.

  6. Be nice

    Communicate well through your Realtor and maybe submit a letter as to why you love the home. Often sellers are sentimental about their homes and like the idea of someone loving it as much as they did.

  7. Be ready to walk-away

    This one is tough. You’re already imagining new paint and your furniture in the home, maybe the kids playing in the back yard, but remember: it’s not yours yet. Set a firm price in your mind so you don’t get emotionally caught up and offer more than you can afford. There will be other homes and a seasoned Realtor will find you one that checks all of your must-haves—one of which is certainly staying within budget!

    Experience matters, especially when you’re up against multiple offers. Our team is the #1 Allen Tate team in the Carolinas. We helped more than 400 families with their real estate transactions last year. And we’d love to help you.

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