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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Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs
In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.
For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.
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John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.
Ford Realty Inc
137 Charles Street
Boston, Ma 02114