When Multiple Offers Exist, Home Buyers Should Go Ahead And Make Their Strongest Offer


When Multiple Offers Exist, Home Buyers Should Go Ahead And Make Their Strongest Offer
By Scott Rogers • July 5, 2024
If a house has been on the market for a few days without an offer, a home buyer may be inclined to attempt to negotiate somewhat on price and add contingencies related to a home inspection, appraisal, etc. All of that is fine, and can make sense. Until another offer exists. Once more than one offer exists, home buyers ought to go ahead and make the strongest offer that they would like to make - acknowledging that they are now not only negotiating with the seller but they are also competing with other buyers. For example... A home is listed for sale for $475,000. Five days go by with plenty of showings but no offers. A buyer offers $455,000 with an inspection and appraisal contingency. A second buyer makes an offer - clearly, with terms unknown to the first buyer. The first buyer does not modify their offer, or only makes a small change, not taking it all the way to the best terms they would be willing to offer for the house. The seller moves forward with the second buyer. The first buyer regrets not having made their strongest offer. Yes, negotiate if you must, or if you feel that you should, but if you are competing with another buyer, don't hold back if you really do hope to buy that house! 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 21, 2024 (unless otherwise noted).
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