Landscape Lighting Systems
appen grocery
Georgia Automation & Home Theater
appen dec 2010

Patience can win in multiple-offer situations


June 07, 2013
There is no shortage of reporting on low home inventories and bidding wars across the country.

I've discussed this situation in our market here in North Atlanta as well.

When you find and fall in love with a home, it's nothing short of nerve-wracking to hear that other homebuyers have also made offers forcing you to compete.

Even worse is the call from your realtor telling you the sellers have accepted a different offer.

But don't give up just yet. Have your agent find out if the sellers will accept a back-up offer. A back-up offer is a completely negotiated, signed and accepted contract that is in second position.

The first offer accepted will likely be contingent on many items; inspection, financing, appraisal.

If, for any reason, the first contract were to fall through, the back-up offer would automatically fall into first position. Not likely you say? We've had several buyers get the home they wanted from a back-up position.

Bidding wars bring out emotions. We've seen emotional buyers have second thoughts after winning the bid, only to back out as quickly as they jumped in. Financing issues aren't uncommon and inspection items can cause people to have a change of heart.

Don't let emotions drive you, but if you truly love the home you lost out on have patience and submit a back-up offer.

Bob Strader is a local realtor with the NORTH Group of Keller Williams Realty. Visit his blogs liveincumming.com or liveinalpharetta.com or email him: info@thenorthgroup.com.
printPrint
emailEmail Link
CommentFeedback
shareShare

Tags: Business News, Community & Outreach

READER COMMENTS Submission
When posting feedback please be respectful. Be nice. :
* required value
Your Name*

Town*

Email (not shown on website)*

Subject*

Comment*

Verification*
Identify the animal




Coldwell Banker
Biz Post
RECENT CLASSIFIEDS
Furniture

Dining Room Table - 6 Chairs

July 24, 2014 | 08:49 PM
Dining Room Table, 6 Chairs »
Furniture

Sofa and Love Seat - Beautiful !

July 24, 2014 | 08:21 PM
Almost brand new almost never »
Music Lessons

Piano and Harp lessons

July 24, 2014 | 07:46 PM
I offer Piano and Harp lessons »

Beverage Depot
appen dec 2010 Duplicate