You’ve found your dream home, so you’ll make an acceptable offer and live happily ever after...unless another buyer beats you to the punch!In a competitive marketplace, this can not only happen, but can potentially have a far greater impact than any negotiating gambit the seller would hurl your way. Yet, more buyers erroneously fear the seller more than they do other competing buyers!
That’s why it’s important to make sure your offer strategy includes a strong stance against other potential buyers and their offers. There are several factors that make buyer competition a threat in today’s real estate market.
It’s a sellers’ market.
First, in a competitive market with relatively few quality properties available, “dream home” category houses will become hot properties – often as soon as the for sale is planted in the yard.
Most buyers want to purchase a home that requires very little fix-up. They comment, “I want to bring in my toothbrush and immediately set up housekeeping.” And to obtain these turnkey benefits, buyers are willing to pay a premium. That can translate into not only a full-price offer, but one that exceeds the seller’s listed price.
First, in a competitive market with relatively few quality properties available, “dream home” category houses will become hot properties – often as soon as the for sale is planted in the yard.
Most buyers want to purchase a home that requires very little fix-up. They comment, “I want to bring in my toothbrush and immediately set up housekeeping.” And to obtain these turnkey benefits, buyers are willing to pay a premium. That can translate into not only a full-price offer, but one that exceeds the seller’s listed price.
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