The Voice of Delaware Professional Real Estate Professionals

Does knowing there is a competing offer change yours??

Does knowing there is a competing offer change yours??

Dang it!  Were in the midst of a “buyers market”, the homes been on the market for 216 days……and as soon as your ready to place an offer a competing one comes in???  What are the odds?? 

Did your pricing strategy just change?  Two schools of thought…

1. Your price is your price is your price, so no change…competing offer means nothing to you….You see this a lot with investors who are not emotionally attached to the “property”

2. Start at the top- How bad would you feel if you did NOT get the home??  What’s the most you would pay for the home and still be happy?  The goal is a win-win. Meaning you and the seller are happy with the price.  So, take the “most you would be happy to pay” and place that offer.  Remember, you can not start low and work your way up…..it’s either win or loose….no negotiating with multiple offers…and DO NOT get EMOTIONALLY caught in the excitement of the “game”!!  It will cost you thousands! 

Place the offer.

If you win, congratulations…If you “loose” you did so knowing you would have been unhappy paying more anyhow.

And have fun!

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