Scottsdale, AZ: In today's low inventory housing market, home buyers often face fierce competition when it comes buying their dream home. Now, it's certainly not the melee we saw in 2006, but "move-in ready" homes priced appropriately often see multiple bids the first weekend they go on market. And losing out in a multiple offer scenario is no fun at all.
So how do you 'win' when it comes to beating out the competition and securing your dream home? There are tons of different strategies, some of which are over played, for example, buyer letters. They are warm and fuzzy, but have zero affect for some sellers. The number one question your agent should be asking the listing agent is "what is most important to your seller?" You'll be surprised, it's not always price! Trust us on this one.
Sellers review a few key factors when evaluating multiple offers. How much is your earnest deposit? Are you picking up any of the miscellaneous fees? (i.e. HOA transfer fees, home warranty, etc.) Does your preferred close-of-escrow date parallel the sellers desired date? Are you comfortable with the current condition of the home, or are you going to request 50 repairs during the buyer inspection notification to seller repair (BINSR) period? These relatively small details do make your offer stand out.
Asking "What's most important to your seller?" shows that you are collaborating right out of the gate. Make no mistake, your agent is not compromising your best interest when approaching the negotiation in this manner. In fact, I would argue the contrary. Your goal is to lock up your dream home, and an experienced agent should be collaborating to make this happen as quickly as possible.
If you have any questions about the home buying process, or current value of your home, let us know. We proudly offer professional real estate services valley wide.
