Princeton Town Topics – Let’s Talk Real Estate – April 24, 2019
With limited inventory and many buyers, we are finding there are multiple offer situations happening in and around town. There are different ways for a seller to negotiate multiple offers. The terms considered are Price, Good Faith Deposit, Money Down, Financing, Closing Date and other contingencies such as inspections and financing commitment. Just because a person is willing to pay the highest price, does not necessarily mean they are the “best offer” Things to consider…
· They can accept the “best offer”.
· They can make a counter offer to one party letting the parties know they are awaiting a decision.
· They can ask for all buyers to put in there final and best offer at which time the owner will evaluate all of the terms and decide which is the best and most likely to make it to the closing table.
When you find that you are in this situation as a buyer, it is wise to go in with the strongest offer right from the start. This shows you are serious about getting the deal done.