HOW TO DEAL WITH COMPETING OFFERS
Ideally, you want to be the only buyer who makes an offer on a particular property. That way, assuming your price is acceptable to the seller, you’re almost certain to close the deal.
But, it doesn’t always work out that way. In the case of highly desirable homes, it’s very common for there to be competing offers.
So, what do you do if there’s a competing offer on a home you really want?
First, don’t panic. Just because there are other buyers interested in the property doesn’t mean you won’t get it. There are many factors that influence a seller’s decision to choose one offer over another.
For example, sellers are generally skeptical of offers from buyers who do not have a pre-approved mortgage or have not yet put their own home on the market.
Conditional offers based on these factors are often a red flag. Most sellers will readily accept an offer conditional on a satisfactory home inspection. However, if there are other more stringent conditions – such as an offer conditional on the buyer selling his own home for a particular price, or an offer conditional on arranging satisfactory financing – many sellers will be reluctant to accept the offer.
Of course, it isn’t always possible to avoid including these kinds of conditions. That doesn’t mean you won’t get the home. A solid presentation of the offer along with my skilled negotiation can make all the difference.
REMOVING EMOTION WHEN SELLING
Most real estate experts agree that being too emotionally attached to your home can lead to poor decision making, such as over-pricing the listing and making hasty choices based on feelings rather than facts.
Of course, removing emotion from the home selling equation is easier said than done. After all, it is your home. It’s only natural to be emotionally connected to it. So, how do you ensure that emotions don’t get in the way of selling your house quickly and for the best price? Here are some strategies:
- Think of selling your property as a business transaction only. Focus your emotions on the new home you’ll be moving into soon.
- Stow as many personal items as possible, such as trophies and family pictures. Turn your home into an attractive product.
- If a buyer makes a negative comment about your property – “I hate the deck color.” – don’t take it personally.
- Avoid judging offers to buy your house based on whether or not you like the buyer.
Finally, whenever you make a decision during the home selling process, ask yourself: “Am I making this decision based on fact or emotion?” If the answer is “fact” then, chances are, you’re on solid footing.
MAKE YOUR HOUSE “PICTURE PERFECT’ FOR BUYERS
When you walk into a nice hotel room, what do you usually notice first? It may be the large, often beautiful picture hanging above the bed. You’ll probably find a smaller, equally attractive picture hanging in the bathroom. Often there will be at least two more adorning other walls.
That’s no accident. Hotels know that pictures are the simplest, surest way to make a good-looking room look great.
The same thing holds true when preparing your house for sale. According to home staging experts, hanging a few quality pictures can transform the look of just about any room – even a washroom!
Chances are, you already have pictures hanging in your home. Do you need more? That depends. If you have a room that seems dull, and there is open and empty wall space, try adding a picture. You don’t have to buy one or hang one – just have someone hold up an existing picture. If the look of the room improves, consider adding a picture in that spot.
Pictures don’t have to be expensive; they just need to be of good quality. Many retailers sell good-looking, nicely-framed pictures at affordable prices.
“Failure doesn’t come from not reaching your goal, but from having no goal to reach.”
“No bird soars too high if he soars with his own wings.”
“You can’t build a reputation on what you’re going to do.”