When available housing inventories become low in Northern Virginia, available homes will usually receive multiple offers. If the home for sale is in good condition, located near major transportation routes and commuter lots, and supported by sought after schools, it is almost certain it will receive multiple contract offers. Every multiple offer scenario is different because it involves different purchasers, homeowners, real estate agents, and residential properties. This article intends to provide multiple offer strategies while buying homes and provide guidance through the process of competing against other prospective home buyers to own your next home. The items listed below include often used approaches during almost all multiple contract negotiations.
(1) Waive appraisal contingencies. We listed this first because this approach is the biggest risk. As a buyer you must be in love with the home you are trying to buy to use this strategy. We have advised past clients… Continue reading