That’s right-in many deals I see, 2004/05 is back. Which means multiple offers galore! How frustrating as a buyer…and how wonderful as a seller. As a buyer, you think you’ve found the perfect property and,
as luck would have it, it’s at the perfect price. Actually, too perfect. That’s what happens when sellers price homes at a ridiculously low price. Bidding war, anyone? It is clever marketing and the ducks are quacking, so feed ‘em! If you’re buying, here’s how to deal with this phenomenon:
First, go in with your highest and best offer and stick to it. Do your homework, talk to your realtor and go in strong. If there are multiple offers, just let the seller know you’ve already given your best. (You may be surprised–you may still get the house).
Second, don’t wait! As a real estate agent, I see this heartbreaking mistake every week. A buyer knows it’s a good deal, but they want to think it over, and then the house sells and all of a sudden, it was the buyer’s dream house. In this market, I urge all buyers on the fence to please jump off that fence – you’ll be glad you did because there are some incredible deals out there right now!
Third, recognize the opportunities. Any property that’s priced well and in a good location, will not last. There are people flocking down to SW Florida from the snowy northern states ready to pounce. These snowbirds may have even been outbid in the past and are no longer waiting – they are buying!!
Be patient, do your research, and when the opportunity presents itself – jump on it! Happy Hunting!