An attractive piece of real estate is likely to have more than one offer from interested buyers. While this is advantageous for the seller, it can be disheartening for you if you've fallen in love with the property already. This guide explains how sellers typically approach a multiple buyer situation and what you can do to improve your chances. 

How Sellers Navigate Multiple Offers

Some sellers will simply accept the best offer from a group of potential buyers. This is often the case when sellers desire a speedy real estate transaction. In other cases, the seller may inform all buyers that there were multiple offers and ask them to make a second, better offer. A seller may also develop a counteroffer for a single buyer. 

How to Make Your Offer More Attractive

When there are multiple people interested in the same real estate, there are a few ways you can boost the appeal of your offer, including:

• Giving Your Best Offer First: Giving a lower first offer in the hopes you can put you at a disadvantage in a multiple-buyer situation. While you shouldn’t promise more than you can comfortably afford, your first offer should reflect the full amount you’re able to pay.
• Getting Pre-Approval for Your Mortgage: Being pre-approved for a mortgage puts the seller’s mind at ease. They know that your financing is assured, which makes you a more attractive buyer than any others who are not pre-approved. 
• Writing a Personal Offer Letter: Don’t underestimate the power of a personal appeal when buying real estate. Sellers are often emotionally invested in their homes and they want them to go to a family that has the same connection. When writing the letter, include details about yourself and your family, as well as what attracted you to the house.
•  Paying Cash: While it’s not an option for every buyer, paying in cash is extremely attractive to sellers. Cash expedites the closing process, which sellers appreciate. It also eliminates interest payments involved with a mortgage, which reduces the amount of money you’ll pay for the property. 

Working with a skilled real estate agent can also improve your chances of a successful home sale. In O'Fallon, MO, Jenny Derhake Realtor-Coldwell Banker Gundaker guides buyers through the process from start to finish. In addition to providing information on properties, she also performs comprehensive research on other essential factors, including schools and neighborhoods. Buyers can visit the website for more great tips. You can also call (314) 541-1771 to schedule a consultation.