Landing your dream home in a hot real estate market can feel daunting. Often, sellers will land multiple offers within hours of listing their home on MLS. Losing out on a home in a multiple offer situation is frustrating, but not necessarily avoidable. However, there are things you can do to position your offer, helping it stand out and finally leading you to a close. We pulled together some tips and tricks to help you win in a multiple offer situation.
Before jumping straight into the exciting part of the offer, it is vital to lay a solid foundation. You want to take a few key steps to set yourself up for success. That way, when you find the home you want, you are ready to act without delay.
Before you even start viewing homes, you will want to:
- Speak to a loan officer to know your financial boundaries before you start looking.
- Get your ducks in a row. Have all necessary documents collected, organized, and ready to go.
Once that is squared away, prepare yourself mentally. Ideally, you should:
- Go view properties (in person) that interest you. And don’t wait. In a hot market, scheduling showings when it’s more convenient could mean losing the home.
- Be prepared to make an offer immediately after viewing a home.
Make an Offer Worth Accepting
- First and foremost, you want to make a competitive offer. When there could be multiple offers coming in rapidly, one under the asking price will likely be rejected.
- Get creative. Think outside the box. If you were the seller, what would make you sit up and take notice? Consider offering to buy the home as-is and pay your own closing costs.
- Offer a quick close; aim for 30 days. And do your best to avoid including any contingencies.
Setting aside the time to view properties quickly and making a timely and enticing offer will go far in landing you that perfect home. If you need help buying a new home in Fort Collins, reach out to Dennis Schick, broker associate for the RE/MAX Alliance. Dennis Schick has years of experience buying and selling homes in the Fort Collins area, and he and his team can help you secure the home of your dreams!