Here’s my 9th tip on how you can win a bidding war: How to Make the Escalation Clause (a.k.a. the Multiple Offer Addendum) Work for You.
Linda Craft & Team, Realtors are highly trained negotiators that use every advantage to insure our clients have the most favorable outcome.
We have a special addendum drafted by an attorney that allows our buyer to make a lower offer not to exceed their maximum comfort level. Many times with this addendum the buyer wins the bid with the lower offer.
We also obtain information from the listing agent prior to writing an offer to know if there are multiple offers, how they will handle multiple offers and what terms the seller would find most acceptable. This includes closing dates, personal property, home warranty.
Then we carefully analyze the seller’s asking price by researching sold properties similar to what an appraiser will do for the mortgage company to help our buyers remain objective to value. We have a pre-approval letter in file from credible, well-known, and respected mortgage company to bring peace of mind to the seller that our competing buyer is well qualified to purchase.
Then we carefully fill out the offer to purchase and attach our multiple offer addenda to place our home buyer in the best position to win the house they really want without over paying for their dream home.
Raleigh, NC Area Home Buying Made Easy
Make your home buying experience infinitely easier by choosing a qualified and experienced real estate agent with whom to work.
Contact us at Linda Craft & Team today if you’re ready to enter the market as a home buyer and want some expert guidance along the way.
Until next time,