It’s been an incredible couple of months sharing with you the various tips on how to win a bidding war on the Raleigh area real estate market. We’ve gotten so much positive feedback on how these tips have proven helpful to local home buyers.
We bring our series to a close with one final tip to share. And trust me, you won’t want to miss this one!
Tip #10: Move face Because If You Snooze, You Lose
When in multiple offer negotiations, timing is very important. As you and your buyer agent draft your offer, play out several different responses the seller may make and decide upfront how you will counter.
The biggest mistake homebuyers make is they receive a counter offer and believe they can wait until the get off of work or that they have time to sleep on it.
You do not have time.
You have to respond quickly because the other offer at anytime could increase their offer.
To a home seller offers are like shiny objects. Every time a buyer moves it captures their attention. While you are thinking about the seller’s counter offer other offers are improving or coming in.
Sign fast. Just because you and the seller have agreed on price and terms it is not over. The only thing that secures this home is yours is by both buyer and seller signing the contract and it is delivered to all parties. When an offer and counter offer is agreed to the seller will want the buyer agent to draft the agreement, get it to you to sign and then deliver to the seller for final agreement. During the time of drafting, signing and delivery other offers can come in and you can still lose the home of your dreams. The best way to hedge against this is to move fast.
A huge advantage for you here is to work with a Team instead of an individual so the team can help expedite the offer super fast. Imagine you are working with a single agent and the phone rings that the seller has accepted you last counter offer. Great news except your agent is out showing property to another buyer and can’t get to a computer for several hours to re-draft the terms of your verbal agreement.
Do you see the time problem brewing? With a Team your buyer agent calls into the office and another Team member makes the changes and emails them to you by DocuSign. Within 15 minutes, your offer is sitting in front of the seller ready to sign.
Speed is the winning ingredient in negotiations. It is as important as yeast is to bread. When you want to win select an Exclusive Buyer Agent to represent you that has the power of a team on your side.
Let’s Get Started With Your Home Buying Dream Today!
It’s been a pleasure sharing with you our tips on how you can win a bidding war in the Raleigh, NC area.
Although this series is ending, our commitment to you is not. For more valuable Triangle area home buying advice, please make sure to contact us at Linda Craft & Team. We would be more than happy to help!
Until next time,
Linda