Think the highest offer on a home always wins? Think again. Here are four reasons why a seller may not choose the highest offer:
1. A buyer brings an all-cash offer: A buyer paying cash means there won’t be any financing pitfalls — and sellers LOVE avoiding pitfalls. No bank appraisals necessary!
2. A buyer can close ASAP: If a seller is antsy to get moving, an offer from a buyer who can close quickly will zoom to the top of the stack if that's what the seller needs and vice versa. So bottom line, be as flexible as you can.
3. A buyer shares their story. Sometimes buyers want sellers to know exactly why their house is “the one.” And sometimes, that’s all it takes for a seller to agree — especially if a seller has lived in the home for decades and their move is a sentimental one. Write a personal letter to the seller but be mindful of details you share to avoid Fair Housing Issues.
4. A buyer doesn’t ask for contingencies. A common contingency is that a buyer must sell his or her home before buying. Sellers love when an offer is free and clear of cumbersome contingencies totally out of their control.
It’s true — you want to go in with a strong offer price-wise, but that’s not the only thing sellers are looking for. Sellers want an offer that’s competitive, clean, AND close-to-asking price (more like way over asking in this market)— the closer you can get to all three, the better!
For more tips and tricks to win a multiple offer in this market, reach out for a list if great options that fit your needs and budget. Just like every seller is looking for specifics in the offers they receive, we know every buyer is different too!