Multiple Offers in Real Estate - Are you ready ?
When a property listed for sale in NW Indiana has all of the following:
Desirable Location
Priced to Sell
Well Kept Condition
Unique Amenities
There will be a flurry of activity and showings on the property and multiple offers!
It's Supply and Demand...
Buyers who have viewed and compared many homes for sale in an area realize when one new listing comes on the market that has all of the above positive attributes, it is a good buy! ... and put an offer on it quickly before another home buyers contract is accepted.
When a multiple offer situation occurs, all interested buyers are asked to bring their highest and best offer and terms forth in a written and signed purchase agreement to the seller by a certain date and time.
This can be done with or without a Multiple Offer Disclosure Form. The seller does not have to elect to wait a certain time period however usually an extended time for receipt of best offers are given to those buyers interested to be among those the seller considers.
Price is not the only criteria the seller weighs when choosing between multiple offers..... there are other conditions that may affect the sellers decision.
Purchase Agreement variables like:
Contingencies on sale or close of another property.
Buyer asking for seller assistance to pay x number of dollars of their closing costs and pre-paids.
Being non flexible on other terms in the purchase agreement such as closing and possession dates, inspection repairs paid for by the seller, personal property requests asked for by the buyers, home warranty requests, etc...
Listing additional further conditions or addenda in the offer can be a consideration.
Submitting less earnest money than requested.
Type of financing is an important consideration: There is a difference i.e. Cash verses conventional loans verses FHA or VA financing.
All of these variables are taken into consideration as well as price!
An experienced professional REALTOR can recommend structuring an offer in a multiple bid situation for their buyers to get the contract accepted.
Call us to represent you in this market where there is an inventory shortage for affordable homes in good condition.
Thanks for stopping by and reading our Blog about Life in NW Indiana, The Housing Market, Communities, Local Sports, Events, attractions & more.
Sincerely,
Jeff & Grace Safrin, Broker / Owners 
F.C.Tucker 1st Team Real Estate
13 Lincolnway Suite # 203
Valparaiso, IN 46383
Office # 219-309-9930
serving Lake, Porter, La Porte, Jasper, Newton & Starke Counties in NW Indiana
Independently Owned & Operated
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Judgment, Courage, Patience and Vision...
These words appear on a plaque in the Executive offices of F.C. Tucker Company, Inc. under a likeness of the firm's founder, the late Frederick C. Tucker, Sr. The words not only describe the founder's attributes, but they also serve as continued reminders of our Company beliefs.
We have a long history
Started in Indianapolis 90 years ago, Tucker has 35 affiliate offices in Indiana and Kentucky, in addition to its 15 Indianapolis-area offices. Less than one percent of all real estate firms in America enjoy a continuing history as long as F.C. Tucker Company, Inc.
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The F.C. Tucker Company is owned by H. James Litten, who dedicates himself to continuing to grow and diversify the services provided by the company.
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Our goal is to orchestrate a process that makes your experience in buying or selling real estate a smooth and enjoyable one. In addition, we have designed a seamless, multi-integrated system with the latest in technology to assist all parties involved.
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