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Out-Compete Buyers In Multiple Offer Situations

Wednesday, February 06, 2019   /   by Holly Northup

Out-Compete Buyers In Multiple Offer Situations

https://youtu.be/01LXjVFuuyA

 

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Last time we spoke about getting multiple offers as a seller, and this time we'll be speaking about how to handle multiple offers as a buyer. We're seeing many multiple offer situations here in Austin, and it can be very stressful for buyers. I'm going to show you a few ways that can aid you in winning out in situations like these.




  • Being Pre-qualified is absolutely essential to winning over the seller. If you can prove that you have the finances to buy the home, then you will stand out much more in the eyes of the seller.

    • If you're a cash buyer, you should make sure that you have a pre-qualification of funds. 



  • Another way to bolster your offer is to include a personal letter which explains why you want to buy the home and why you would be the best choice for the seller. Explain that you're a growing family and you need more room, or that you're a responsible home owner and promise to keep the property in tip-top shape. This can hit a personal chord with the seller, and that can help to make you stick out.

  • You also want to make sure that your option periods are very small, and you also want to include a large option check. I would suggest putting down $500 or $1,000 dollars just to show that you're more sincere about your offer. The more money you put down, the more qualified you will appear in the eyes of the seller.

  • Finding a real estate agent who can write great offers is another key, and this is what I do best. I know how to make a compelling offer that will improve your chances of being accepted in a crowded market such as the one here in Austin.


If you have any questions or concerns about this, please do not hesitate to contact me.

The Bucher Group | Austin Portfolio Real Estate
Kathleen Bucher
1801 S Mopac Drive Expy, Ste. 100
Austin, TX 78746
512-794-6644
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Based on information from the Austin Board of REALTORS (alternatively, from ACTRIS) for the period through 2019.® IDX information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS and their affiliates provide the MLS and all content therein "AS IS" and without any warranty, express or implied. Data last updated: October 22, 2019 Texas law requires all real estate licensees to provide this link to Information About Brokerage Services:www.trec.state.tx.us/pdf/contracts/op-k.pdf