Today's housing market has surpised many buyers who may
have been waiting for home prices to hit bottom. For example, they may have heard that the
market is turning around, and so they are becoming more active in their home
search. They finally find a property
that suits their needs and then make what they consider a reasonable
offer. Excited to have their offer
presented to the seller, they are dismayed to hear that there other offers on the same property that have all come in
within the past 24 hours!
Buyers need to know that an increasingly popular listing strategy is to price the house low in order to create
a "multiple offer" situation.
The agent presents all of the offers and the seller chooses the
"best" one. The rest of the
offers are then rejected. In a few
multiple offer situations, all buyers receive a counter offer, providing an
opportunity for the buyer to come in higher or with better terms. Buyers should
not expect this will be the case with every home they bid on though because
they often find that the seller is not interested in negoitating with them if
they have a better offer.
To know more about how to get your offer accepted once
you find the right home, watch for future articles or give me a call anytime to
discuss your particular situation. I
always enjoy hearing from you!
Nancy Puder is the broker and owner of SignatureProperties, a prestigious real estate sales and management firm in Arroyo
Grande, CA. You may contact her at Nancy@NancyPuder.com or (805)710-2415
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