In A Multiple Offer Scenario, Consider Making The Strongest Offer You Are Comfortable Making


In A Multiple Offer Scenario, Consider Making The Strongest Offer You Are Comfortable Making
By Scott Rogers • February 23, 2023
It seems we might still be finding ourselves in plenty of multiple offer scenarios this coming spring in the Harrisonburg and Rockingham County real estate market. And sometimes... a buyer discovers that the house they have just walked into is one that works very, very well, for their needs. What sort of an offer should that interest translate into? I recommend that buyers make the strongest offer that they are comfortable making. PRICE - If the house we just viewed is listed for $400K, and we believe it is worth $400K, perhaps we offer $400K. Or, perhaps we include an escalation clause to demonstrate a willingness to pay as much as $410K, or $425K, given that this property fits your needs (and wants) very, very well, like no other house has to date. INSPECTION - If you are comfortable making an offer without a home inspection, based on your level of risk tolerance, and the condition and age of the property, and your available resources for making improvements, then perhaps we make an offer without an inspection contingency. Or, perhaps you are not comfortable making an offer without an inspection contingency. RADON - If you are comfortable testing for radon after you purchase the home, and installing a radon mitigation system at that time if needed, then perhaps we make an offer without a radon test contingency. APPRAISAL - If, based on the size of your downpayment, a slightly low appraised value would not affect your financing, and if you are comfortable paying the offering price regardless of what value the appraiser determines through their appraisal process, then perhaps we make an offer without a specific appraisal contingency. As you can see here, if we are going to be competing with other buyers and offers, we need to make a strong offer, but only as strong as you are comfortable making given your financial picture, the particular property, how well the property suits you, your tolerance for risk, etc. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).
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