5 Tips to Successfully Navigating Multiple Offers

In the present Sellers' Market, if you price a property properly and it shows well, multiple offers are common. Here are tips to navigate those offers to get to the highest and best.

1.  Don't take the first offer you get.  Set a date to review offers and ask for the loan preapproval,  proof of funds and information about the buyers up front.  Usually a week is plenty of time to get the best offers with the most motivated buyers.  It can be noted in the listing.  This way you don't have buyers and agents panicked to get in and making impulsive decisions that they may regret later.

2.  Highest Offer isn't Always the Best.  When reviewing offers, consider the type of loans versus cash.  While buyers with VA or FHA loans may offer the highest offers, even above the asking price, remember if the appraisal comes in lower than the inflated purchase price, you may have to lower the price to match the appraisal since these buyers don't have a lot of cash reserves.   While buyers don't like to show you that they have lot of cash, you will want to look at the cash reserves if they are trying to outbid other buyers.   Strong cash offers can be the best.  They do not have to have an appraisal contingency and can close quicker.

3.  Increased Good Faith Deposit.  While the typical good faith deposit is 1%, some buyers are putting down more.  However, they don't take any risk of losing any of it, and at the most 3%,  unless they back out after releasing all of their contingencies in writing.  So the money that a buyer puts down in good faith shows motivation.

4.   Shorter Contingencies Time Frames.  Look for the shorter contingency time frames.  The motivated buyers can definitely shorten up their physical inspection periods.  Appraisal can be ordered within the first week.  With a full preapproval, loan contingencies can be shorten to 17 days.

5. Other Terms to Consider.   While having the sellers moved at the close of escrow is always best, sellers often need  more time to close up their old house before moving to the new one.    So a buyer may want to consider being open to allowing the seller to remain in the house for a few extra days to move their equity to close up their new home.

For other Home Seller Tips see  Home Sellers Don't Burned

Virginia Hall
Keller Williams Realty
619.258.8585

10 Tips on Dog Etiquette When Buying or Selling a Home

by Medina James

Buying or selling a home can be quite an adventure. You’re facing a big, exciting change and there’s so much to think about. So much, in fact, that it’s easy to get lost in the excitement and forget about the needs of your pet. This guide to dog etiquette when buying or selling a home will help give you peace of mind about your pup during the process.  

Buying 

It’s really happening, you’re buying a home! You’ve spent hours looking at homes online, making a checklist of all the things you want in your new home - a breakfast nook, a porch, a fenced backyard for the dog. Now it’s time to start getting out and looking at properties. If you’re like a lot of people then your dog is part of your family and it’s tempting to want to bring them along when looking at properties, but that’s not a good idea.  

Here are five tips on dog etiquette when buying a home:  

                For more information:  
                1. Visit ​rover.com​ to find a drop-in pet sitter in your area 
                2. Visit ​cesarsway.com​ for help with preparing your dog to socialize 
                3. Visit ​realtor.com​ to learn more about escrow 
                4. Visit ​hgtv.com​ for more information on open house etiquette 
                5. Visit ​ada.gov​ for more service-animal-related guidelines 

Selling 

When you’re selling a home, there is a lot to consider as a dog owner: What will you do with the dog during showings? What’s the best way to get rid of pet odors and other signs of a pet? Are you okay with potential buyers bringing a dog into your home?  

The guide below offers five tips to help you prepare: 

               For more information:  
               1. Visit ​rover.com​ to find a place to board your dog 
               2. Visit ​thebalance.com​ for expectations on scheduling showings 
               3. Visit ​bhg.com​ for other tips on decluttering 
               4. Visit ​getridofthings.com​ for advice on eliminating pet odors 
               5. Visit ​realtor.com​ to learn about other things to discuss with your realtor 

Buying or selling a home is so exciting! Armed with our guide to dog etiquette you’ll feel confident that your pet isn’t forgotten in the hubbub.