Many buyers are feeling frustrated by losing in multiple offers. The thing to remember is that a multiple offer situation changes the balance of power from the buyer to the seller. The rules of the current "buyer's market" no longer apply.
The way to win a multiple offer is by making your best offer. The offer where you are comfortable getting the home at your price and also comfortable losing the home to someone else who is willing to pay a little bit more. Other important ways to make your offer more attractive to the seller are:
- make the closing non-contingent
- have the closing date as early as possible
- make your earnest money as large as you can
- keep extra requests and conditions to a minimum.
If you do those things you greatly increase your chances of success in a multiple offer. Most importantly, you will be confident that you did everything you could to buy the home at the price and terms that made sense for you and your family.
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