Multiple Offers On Your HomeTampa Bay homes for sale are scarce, and home buyers are bemoaning the lack of inventory.  If you happen to be in the market to buy your home, there are a few things you should know.

When you find the perfect home, make an offer.

Don’t wait, don’t bargain.

Offer your best possible price and a high deposit (1% of purchase price is customary in Tampa Bay, so you may want to offer 2% if you can swing it) with all your personal details, including a fantastic story about why you want why you NEED that house to be your home!

You see, the offer you write may be your ONLY chance to win the home, your home, and you want to give it your best shot.

In a housing market like ours, where inventory is low and homes are only staying on the market for a short amount of time, multiple offers are being submitted on homes that are marketed professionally and priced right.  By the way, about half of the bank owned homes are NOT priced right currently, but that's a story for another day.   Homes that are selling now are selling at 98% of asking price and quite a few are selling well above asking price.  The ones that sell above asking price generally go into contract within the first few days, and there are reasons for that as well (your agent needs to have the expertise to market and present it to the world in a certain manner).

Home sellers need to evaluate several offers and if yours is one of many (your agent should be able to tell you if other parties have indicated interest), it needs to stand out. That’s where your story comes in (along with your best price offer and earnest deposit).

3 Steps to Writing the Best Offer For Your Home

 

  1. Offer up as much cash as you can in the form of an earnest deposit with the best possible price you can pay.
  2. If you need lending, get pre-approved by a LOCAL lender and formalize it by including a letter from your lender as part of your offer.
  3. Write a from the heart appeal that explains your feelings about the house and why you need their home to be your home. If you have a good personal story, share it as well. Some home sellers are motivated by more than price and if they can “see” you in the home, it could make a difference.

Hey, it can't hurt!