This video covers how to buy a Boston condo with multiple offers. Following these tips will help you beat out other Boston condo buyers in a multiple bid scenario.
In this Boston sellers’ market, it’s not surprising if you find yourself in a multiple offer situation. You need to know what you can do to give yourself an advantage over other Boston buyers when it comes to multiple offers on a condominium. This won’t work with bank owned properties because they usually want the highest and best offer. In the video below, we are talking more about traditional Boston condos sales in real estate. There are four things you can do to crush the competition if you find yourself in a multiple bid situation. First off, your agent has to present the offer and keep that offer clean. Don’t over complicate the contract by clouding it up with several specific requests.
Secondly, as a buyer write a clause in the contract to escalate the price if needed. There are some states that do not allow this, but if you are able to do it in your state and the agent knows what they’re doing, this can be very effective for winning with multiple real estate offers.
Thirdly, write a letter to the seller. Tell them a little about your family and why you like the home. Keep it short and sweet. This really makes your offer stand out and it can be incredibly effective.
Lastly, if you are getting a loan, have your lender call the other agent. Having the lender make the first step by calling the listing agent will give them confidence in you as a buyer. Remember the seller and the listing realtor want to know if their buy is ready, willing, and able. As a home buyer, be sure to utilize these four tips because they will definitely help you with learning how to win a multiple offer situation
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