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The Home Buying Process Step 5: Multiple Offers

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As the real estate market changes, multiple offers are appearing again.

A multiple offer situation arises when several, different, competing buyers all make offers to purchase the same property.

Sometimes a listing agent will encourage multiple offers by pricing a property below market, and placing a deadline on the delivery of offers.

As a buyer, consider these strategies when you enter a multiple offer situation:

Offer your best price.

Indicate as large a down payment as possible. If there are competing offers at the same price point, sellers will often lean towards the offer with the larger down payment; feeling that this buyer will be better able to obtain financing.

Be aware of the seller’s position regarding length of escrow. The corporate seller of a bank-owned home will want as short as escrow period as possible. A large family may need more time to move, and may appreciate a longer escrow period.

Consider some non-price concessions. Perhaps there are some fees normally charged to the seller that the buyer can volunteer to pay on the seller’s behalf.

Be sure your offer is delivered to the listing agent in advance of any deadline set by the listing agent; but not too far in advance.

The seller may choose to respond to more than one offer by making a “Multiple Counter Offer”.  The terms of each multiple counter offer are not required to be the same.

Buyers who remain interested must either accept or counter back to the multiple counter offer.

The seller will make a final selection; or will issue another round of multiple counter offers.

Would you like to know more?  Call Bob Taylor Properties at 323-257-1080 or email at [email protected]

NELA Homes

The Real Estate HomeBuyer's Guide

  • The Real Estate HomeBuyer’s Guide
  • Buying a Home: How We Can Help
  • The Home Buying Process Step 1: The Loan Prequalification and Loan Preapproval
  • The Home Buying Process Step 2: Beginning Your Home Search
  • The Home Buying Process Step 3: Make A Purchase Offer
  • The Home Buying Process Step 4: Your Earnest Money Deposit
  • The Home Buying Process Step 5: Multiple Offers
  • The Home Buying Process Step 6: Counter Offers and Offer Acceptance
  • The Home Buying Process Step 7: Open Escrow
  • The Home Buying Process Step 8: Title Insurance
  • The Home Buying Process Step 9: Review Seller’s Disclosures
  • The Home Buying Process Step 10: Physical Home Inspection
  • The Home Buying Process Step 11: The Loan Processing Process
  • The Home Buying Process Step 12: Lender’s Appraisal
  • The Home Buying Process Step 13: Final Walk Through
  • The Home Buying Process Step 14: Sign Loan Documents
  • The Home Buying Process Step 15: Funding the Buyer’s Loan
  • The Home Buying Process Step 16: Close Escrow
  • Understanding the Escrow Closing Process
  • What is a Mortgage?
  • What is a Contingency?
  • What is Escrow?
  • Why Work with a Buyer’s Agent at Bob Taylor Properties?
  • We Understand Financing
  • We Understand Los Angeles Rental Property
  • We Understand Short Sales

Real Estate Homebuyers Guide

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    Ann Stalwick is a highly experienced and dedicated real estate agent who loves her career and works tirelessly for her clients. Ann is associated with NELA Homes, a family run real estate and development company originally founded in Northeast Los Angeles (NELA) with over 30 years of experience connecting homebuyers and sellers thoughout Southern California.

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