I’m sure some of you are laughing at me and saying – “How out of touch is she? The real estate market is in the tank and you’re lucky to get an offer no less multiple offers”. Well there are some areas and segments of the market where that applies, but we are seeing more and more markets where inventory is very low and buyers are gaining confidence. In fact, I just spoke with an associate last night who invests in Las Vegas and he told me that inventories there have gone from 30,000+ to only 6,000 and everything has multiple offers.
So what happens when there are multiple offers? How do sellers deal with this and what can buyers expect?
Most of the time one offer doesn’t stand out so clearly that a seller will just accept it. The seller will give the other offers that are close an opportunity to better their offers, so that they can get the best price and terms. This is where a good broker can be of value, multiple counter offers need to be handled… Continue Reading
