How To Win A Multiple Offer Situation

How To Win A Multiple Offer Situation

How to Win a Multiple Offer Situation

1.  Be realistic

A winning offer will likely be at or above asking price

Be ready to be creative in your offer to make it appealing to the seller


2.  Prepare your finances

Have a pre-qual or pre-approval (even better) letter from the lender

Have proof of funds ready for ernest money, option money, closing costs and down payment

Be prepared to offer 1-3% ernest money (applied to down or closing in the end)

Be prepared to give a larger option fee

You will likely NOT get closing costs from the seller

Be prepared to possibly pay for normal seller charges like the warranty


3.  Be flexible!!!

Be willing to give a lease back

Be willing to do a longer/shorter closing


4.  Add a personal touch

Write a personal letter introducing your family

Include a family picture

Tell them why you want to live there (schools, neighborhood, etc)

Tell them why their home is perfect for you!

Compliment the house and how well taken care of it is

Tell them you will love and care for this house as much as they do!


5.  Listen to what the other agent says will seal the deal

If the agent says the sellers are looking for a lease back- OFFER IT

If the agent says the sellers are needing a longer/shorter close- BE FLEXIBLE

If the agent says they don’t want to pay for the warranty- REMOVE IT


6.  GO see houses ASAP

Try to see the house within 24 hours of it hitting the market


7.  Make your offer “as is”

Still do an inspection during the option period so you can back out if there are major issues

Ask for ZERO repairs to be done or paid for by the seller


8.  Include few to NO contingencies

If you have a house to sell and I am confident it will sell quickly, don’t put a contingency on the sale of your house.


9.  Escalation Clause

An escalation clause can be used when multiple offers are on the table.   It states that you are willing to pay X amount of dollars over the highest offer up to a stated maximum. 

For example:

           Asking price on a house-                  225,000

           You offer-                                           225,000 with an escalation clause

           Escalation clause says-                     Will pay $1000 over the highest

                                                                       Offer up to 240,000

*Agent will verify with the other agent what the highest VALID bid was.  

            *Need to be realistic is the value of the house too.


10.  Be Prepared to Lose

It will be heartbreaking when you fall in love with a house and don’t win it

It may take several offers before you win

Don’t give up and get discouraged!!!

YOU WILL WIN ONE!!!


Leslie Fogle Headshot
Author:
Phone: 214-364-5888
Dated: April 2nd 2015
Views: 1,193
About Leslie: I was born and raised in the Central Valley of California. I attended California State University, S...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Selling In The Winter Attracts Serious Buyers - A recent study of more tha
This Holiday Season - Listing your home this winter? 
Dec 2 2016 17359 1 - WALSH FORT WORTH UPDATENew Homes Sta
5 Reasons Why Homeownership Is A Good Financial Investment - According to a recent report&nb

Our Bloggers

Comprar Casa DFW * - 1
Kim Allman - 5
Cara Balderas - 28
Tami Bennett - 45
Jessica Boozer - 18
Rhonda Borgne - 1
Olivia Borowski - 1
Jennifer Boyd - 2
Deborah Boyd - 16
Jamie Brannagan - 1
Annette Bruen - 20
Moira Brunken - 11
Beverly Bryant - 23
Sherry Cabrera - 359
Ana Cantu - 1
Lisa Cardillo - 52
Bob Cardillo - 4
Shea Cargile - 12
Tori Cecil - 3
Lucina Cervantes - 11
Troy Copeland - 11
Gregory Cornett - 2
Angela Cotten - 51
Missie Craig - 12
Greg Cunningham - 2
Leah Ecob - 15
Kristine Edens - 3
Jill Elliott - 99
Laneal Ernest - 9
Nicole Espinosa - 27
Christopher Evans - 1
Heather Feragotti - 8
Mark Fischer - 2
Susan Florsch - 12
Jennifer Flynn - 4
Leslie Fogle - 101
Larry Frassinelli - 6
Chad Gabriel - 58
Malci Gariani - 1
Shalee Garza - 10
Cassie Gillock - 2
Ryan Gonzales - 3
Christina Gonzalez - 5
Wilma Goodwin - 2
William Graves - 5
Sandra Hunt - 67
Bill Hurd - 3
Gary Hutchings - 20
Rachel Jama - 47
Trenton Johnson - 15
Felicia Johnson - 78
Jemi Khan - 26
Leigh Klotz - 5
Amber L Johnson - 6
Michele Lafortune - 22
Wanda Lewis - 2
Mark Linder - 1
Noreen Lodhi - 9
Stacy Lynn Massar - 27
Hiwot Melaku - 1
Jennifer Menting - 17
Mikki Migis - 8
Richard Mikus - 1
Sean Moniri - 21
Naddia Morales - 10
Keith Moses - 9
Mark Mulch - 19
Erick Murphy - 6
Steve Murray - 1
Julie Nicholson - 10
Nikki Okpuzor - 3
Alan Oliver - 7
Kelly Oltmann - 2
Kaysone Orlando - 1
Holli Paddio - 3
Ancy Philips - 7
JP Piccinini - 48
Julie Ann Pickering - 85
Ann-Marie Pope - 2
Joshua Putman - 111
Mimi Rader - 1
Shelia Randolph - 33
Terri Anne Ray - 1
Teneka Ray - 1
Go 2 Girls Realty - 173
Bethany Rowan - 15
Kelly Rumney - 9
Amy Jo Saenz - 3
Linda Scardis - 4
Sandy Setliff - 209
Christine Shannon - 29
Rene Sinclair - 27
Shelby Smith - 3
Bryce Smith - 5
Monica Solkhon - 1
Rodrigo Sotomayor - 16
Brent Stack - 1
Jenna Stanley - 9
Kelley Stubbs - 3
Melodie Sulgrove - 1
Seana Taylor - 205
Mary Taylor - 13
Julian Taylor - 17
Erica Taylor - 40
Angela Taylor - 1
Karla Terrell - 2
Joey Thomas - 2
Jason Todd - 24
Andrea Trimble - 55
Miguel Umana - 6
Staci Van Allen - 12
Diane Velez - 17
Debbie Viverito - 132
Nick Walton - 75
Spring Weeks - 8
Michael Worley - 160
Keisha York - 30
Debbie Zurita - 17

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

JP And Associates REALTORS
6175 Main Street #355 Frisco Texas 75034
Frisco, TX
972-375-9448
4692875503

Other Locations