Multiple Offer Strategies
In the event a house your buyers are making an offer on has multiple offers, here are some tips to help you win.
1 - Buddy up/befriend the listing agent
1a- get intel on the seller. Their needs. Lease back? money? “I look forward to working with you”. “this will be a smooth transaction”
2- Get a pre approval letter from lender, and emphasize the strength of the buyer. CC the lender on the offer email.
3. Lender to call listing agent and explain buyer’s strength.
4. Submit a simple and clean offer
5. USE THE APPRAISAL ADDENDUM. This should be #1.
6. EM - 2% or greater
7. Option money - $500 at minimum
8. Option Period - Short. Quick. 3-5 days max. Schedule with inspector ASAP.
9. Title, warranty, survey, amendment to survey, HOA transfer and resale - Mark as Buyers Expense.
10. IF buyer needs closing costs assistance, roll them into the sales price. INCREASE OFFER BY THIS AMOUNT.
11 - Source your own deals. Network with other Realtors, join Facebook DFW Realtor groups. On the MLS, search seller type: "Relo". Relocation deals take a lot more effort on your end with all the paperwork. However, alot of lazy Realtors dont take the time to present a clean offer to the relocation company. Search OpenDoor, OfferPad & Zillow listings that generally sit on the market awhile. Look into For Sale by Owners.