Lauren Swigert offers valuable information about being in a competitive market with low inventory and lots of buyers.
So here is the game plan from Coach Swigert:
Buyers, be prepared: Pre Approval Letter, you are clear on taxes, on credit, on banks, and proof of down payment funds (let them know you actually purchase this and give them that confidence in you)
Just by being prepared, you can jump on opportunities people unprepared lose that luxury to move, and move fast.
Make sure your terms are clean. Cleaning your side of the street makes a huge difference when multiple offers hit all at once in the decision making process.
But one of the best tipping points, is to make it personable, more relatable in a cover letter which explains on a personal level why this purchase is important for. Even if the seller isn’t emotionally attached to the property, it will stand out among the other submittals.
For the Seller:
Pricing is important, more so than they think, and typically sellers price above the market prices, and this can lead to issues with appraisals.
It always Looking at the market, staying in tune with where its nestling, and not shooting above appraised value.
Its always a plus to remain flexible as seller.
Get an agent who can weed out good offers from not so good offers, this is the part where the agent should do a spreadsheet on the multiple offers to organize and prioritize so sellers can see what offers are asking.
Lauren talks about the Seller Multiple Counter and the Highest invest Counter – two counters to offers so you the seller, can get the best terms.
And as always, always as always, have a back up offer. If the buyer knows there is a plan B, that will put pressure on them to put their best foot forward and in a timely manner.