Navigating Multiple Offers
Right now listing inventory is low. Situations where there are more buyers than sellers creates a seller’s market. Because of the low inventory, listings may have multiple offers. Working with a Buyer’s agent, like Angie Chavez, will help you when navigating multiple offers.
Sellers, and their agents, are not required to disclose the home has multiple offers. It is up to the Seller to decide. It can sometimes work to their advantage, but not every Seller wants that information shared. When they get the offers, the Seller then decides what the next step is – accept or counter 1 offer, reject all offers, or call for a “highest and best.” The “highest and best” is when the Seller wants the Buyers to send the very best offer/highest amount they will pay for that home. In some cases the Seller will still counter an offer after receiving the highest and best.
When reviewing multiple offers, the Seller does not necessarily go with the highest priced offer. The Seller will consider other factors, like financing, contingencies, earnest money, etc. When you have Angie working for you, you will receive the best advice to come up with your best offer. It pays to have someone negotiate a contract on your behalf, and it can help you be more successful when in a multiple offer situation. Call us TODAY at 404-793-BEAR (2327) for the most protection throughout the home buying process.