When you’ve finally found the house of your dreams, you’ll be eager to sign on the dotted line and begin a new chapter of your life. However, what happens when another homebuyer feels the same and makes a competing offer? If you’re wondering how to find success in a multiple offer situation, use the following guide to your advantage.

How Might a Seller Handle the Situation?

When multiple offers are on the table, the seller has the upper hand. If they’ve been trying to sell for a while or are anxious to move on, they may simply choose the homebuyer who makes the best offer. However, if they have time to spare, they may want to encourage some competition between buyers who are particularly attached to the home. By letting everyone know the highest available offers, they can encourage some buyers to raise theirs, resulting in an advantageous bidding war. 

What Can I Do to Make My Offer More Attractive to the Seller?

If you hope to get ahold of a property you really love, you might want to raise your offer. However, if this isn’t within your budget, there are plenty of other ways to appeal to a seller. For example, you could personalize your offer by crafting a handwritten letter, explaining your ardent interest in the property and how you imagine it fitting into your future—such as extra rooms for children or in-laws. You could also offer to pay in cash, as this provides proof of funds and requires fewer closing obstacles compared to loan-financed offers. 

Some buyers may also sweeten the deal by shortening or waiving contingencies—clauses that allow homebuyers to walk away if certain conditions aren’t met. For example, there may be a 10-day period for buyers to schedule a home inspection for lead paint before closing on the property, but if you promise to schedule the inspection within three days, your offer will seem more enticing. 

If you’re interested in buying a house, get in touch with Mary Vann: Coldwell Banker Gundaker of Des Peres, MO. With over 20 years of experience, this trusted real estate agent has all the skills to help you close on a property that fits your future goals. She speaks both English and Spanish and has an in-depth understanding of the local market. To learn more about her services, visit the website, or call (314) 574-3030 today.