Tuesday, March 8, 2016

How to Win a Multiple Offer Situation as an Austin Buyer

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Today, we’re here with a few tips for buyers to make your offer more attractive in a multiple offer situation. Of course, raising the price is one way to go, but there are a few small things that will set you apart as well.

The first and easiest thing you can do is write a personal cover letter to the seller and submit it with your offer. Explain who you are, why you love their home, and maybe talk a little bit about how you see you and your family growing into that home. Believe it or not, sellers want to know that their home will be in good hands. They have raised families in that property and invested a lot of money, sweat, and tears into maintaining it. A personal letter really appeals to sellers.

Another thing you can do is tighten up the option period. The option period consists of those first few days under contract that you have to do your due diligence. Typically, the option period runs between 7 and 10 days and costs $100. Make the option period 7 days and offer $200 or $250 dollars. That shows you’re committed to going through with the offer. If you don’t go through with the offer, the seller gets to keep that money. If you get the home, that money is credited to you at closing.

Ultimately, tightening up the option period is a win-win. It can really make your offer stand out for a minimum investment. A shorter option period shows that you’re not dragging your feet, and you are really serious about buying the property.

If you have any questions about today’s video, give us a call or send us an email. We would be happy to help you!