How To Deal With Competing Offers
Ideally, you want to be the only buyer who makes an offer on a particular property. That way, assuming your price is acceptable to the seller, you’re almost certain to close the deal.
But, it doesn’t always work out that way. In the case of highly desirable homes, it’s very common for there to be competing offers.
So, what do you do if there’s a competing offer on a home you really want?
First, don’t panic. Just because there are other buyers interested in the property doesn’t mean you won’t get it. There are many factors that influence a seller’s decision to choose one offer over another.
For example, sellers are generally skeptical of offers from buyers who do not have a pre-approved mortgage, or have not yet put their own home on the market.
Conditional offers based on these factors are often a red flag. Most sellers will readily accept an offer conditional on a satisfactory home inspection. However, if there are other more stringent conditions - such as an offer conditional on the buyer selling his own home for a particular price, or an offer conditional on arranging satisfactory financing - many sellers will be reluctant to accept the offer.
Of course, it isn’t always possible to avoid including these kinds of conditions. That doesn’t mean you won’t get the home. A solid presentation of the offer along with my skilled negotiation can make all the difference.
But, it doesn’t always work out that way. In the case of highly desirable homes, it’s very common for there to be competing offers.
So, what do you do if there’s a competing offer on a home you really want?
First, don’t panic. Just because there are other buyers interested in the property doesn’t mean you won’t get it. There are many factors that influence a seller’s decision to choose one offer over another.
For example, sellers are generally skeptical of offers from buyers who do not have a pre-approved mortgage, or have not yet put their own home on the market.
Conditional offers based on these factors are often a red flag. Most sellers will readily accept an offer conditional on a satisfactory home inspection. However, if there are other more stringent conditions - such as an offer conditional on the buyer selling his own home for a particular price, or an offer conditional on arranging satisfactory financing - many sellers will be reluctant to accept the offer.
Of course, it isn’t always possible to avoid including these kinds of conditions. That doesn’t mean you won’t get the home. A solid presentation of the offer along with my skilled negotiation can make all the difference.
GTAREALSTAR from Royal Canadian Realty Brokerage is a real estate Brokerage company based in Ontario, Canada. The well-established company has many years of outstanding experience in the Real estate Industry. The company focuses on being the "straight talking property people" offering a completely jargon free service. GTAREALSTAR use the latest software solutions to improve their service to their customers on a daily basis. GTAREALSTAR offers online access to website twenty-four hours a day, they even offer electronic signing. The company offers sales and rentals combined with first class service and support. Call Naveen Vadlamudi @ 416-837-9696.
Never too late to find your dream home. For available properties, visit http://www.gtarealstar.com. Call Naveen Vadlamudi @ 416-837-9696 Now.
Never too late to find your dream home. For available properties, visit http://www.gtarealstar.com. Call Naveen Vadlamudi @ 416-837-9696 Now.
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