Wednesday, March 20, 2013

Here we go again!

I've been off line for 2 years -- kind of forgot about my blog as I ventured into my new position as managing broker for Edina Realty Lakeville.  I am hoping that I can provide some insight into the wacky real estate market we are experiencing.

This week's tip: How to Win in a Multiple offer situation.  
  1. Write your best offer the first time - no regrets.  What I always ask myself in this situation, if I lost this property over few thousand dollars, how would that make me feel.?!  Go with your gut.
  2. Make sure you are working with a good lender who can provide a strong letter of approval letter.  Listing agents are more comfortable with strong lenders.  Give the sellers a date you'll be fully approved.
  3. Offer as much earnest money as possible and consider making it non-refundable.
  4. Offer a flexible closing date and terms.  Maybe allow the seller to rent back or delay giving you possession.
  5. Write the sellers a letter -- explain why you want to buy their home and compliment them / their home.
  6. Don't expect closing costs to be paid.  It's a possibility to add them to your mortgage, so consider that option.

1 comment:

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