Multiple Offers are Simply an Adult Word Math Problem
Typically when a buyer and their agent are making an offer, they are asking the question. How much can I get the house for?
For many parts of the country there has been a shift to a seller’s market with multiple offers. The rest of you ignore this or file it for when it shifts, you’ll be ahead of the curve.
Unlike the seller’s market that started 8-10 years ago, you just increased your bid and then won. Today we have appraisers being a little more conservative. Which means we can only go so high in price, so you simply cannot just up yours more than the other guys.
The key is to change your question. The new question is. How do I net the seller the most amount of money and stay within the appraisal?
If everyone is pretty much stuck with the same maximum price, based on the appraisal theory. So now what? It now boils down to how you manage the closing cost.
So what are some ways you handle the closing cost?