A Survival Guide for Competing with Multiple Offers

Let’s say you find the house of your dreams. You have been looking for months, seeing homes every week with your realtor and finally you have found a house that you are ready to put an offer in on. But if you are in this Denver market you already know that while you are ready to put in an offer, the chance that there will be multiple offers, and strong multiple offers, is more than likely. So what do you do then? What can you do? First thing is first, sit down with your Realtor before submitting the offer and go over a strategy to make your offer stand out to the seller. Your Realtor will go over all this information with you, but it never hurts to have some information going in so you know what to expect and how to stand out best for the seller to choose you.


Submit a large earnest money deposit – In this market, a large percentage of home sales fall through which make many sellers worry that once they commit to an offer, something will go wrong with the buyers finances and they won’t have a back-up. The earnest money is a down payment first off but it is also showing your interest and commitment to buying the home. By increasing the money you put down, you are showing the seller just how serious you are with buying the house.


Showing you are qualified – Almost every offer will be sent in with a letter from the lender saying the potential buyer is qualified. To separate yourself from the pack, have your lender draft a loan per-approval letter or even have them call the seller’s agent to chat with them about your qualifications and why you are a strong candidate.


Give the sellers rent-free for certain number of days and time to move – You will make a post-occupancy agreement with the seller once you have settled on a move out and in date. But maybe give them a few days free of rent and also give some extra days to move out.


Write your best offer – Don’t go in with a stingy offer or hopes for a counteroffer. Go in with a strong offer, with your best, most attractive offer and even above listing price.


Denver is a sellers market and from the looks of things this is not going to change any day soon. So buyers need to be prepared and ready to go in with the best offer and that is why it is imperative to have a good Realtor to help guide you though the process. If you are ready to buy, give me a call today and let’s discuss strategy to getting you the home of your dreams.