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Monday, January 19, 2015

Home Buyer Tips: What if the offer is rejected?

The Brevard County, Florida residential real estate market has shifted to a seller's market in 2015.    Over the past several months my buyer clients in the Rockledge and Viera, Florida areas of Brevard County have found themselves in multiple offer situations.  This is reflective of the segment of the market my customers are targeting - move in ready homes that are standard sales (no foreclosures, no short sales).

So what should a buyer do when presented with a multiple offer situation?

First of all, the other real estate agent most likely is not going to show you the offer or disclose the offer amount.   I suggest these points of consideration for any buyer placing an offer on any property.
  • Seriously consider your offer price regardless of other offers.  Know the competition, know your budget.
  • Submit a "clean" offer.   By "clean" I mean a reasonable price with supporting documentation like mortgage pre-approval, proof of funds letter, fewer contingencies (inspection, finanacing a must) and a quicker closing.    
  • Are you alright if you do not get the property?  
  • Are you satisfied your offer is reasonable and the highest you think a property is worth?  Respond in a way that, regardless of outcome, you are satisfied.
  • Consider minimizing the allowed response time to your offer (read "Why a buyer should give a short response time.").
Sometimes, no matter how great the price and how clean the offer, the sellers choose another offer    Such is life, stay in the game.

Ready to buy a home in Viera, Florida?   Give me a call at 321-693-3850 or send me an email. 

If you are considering selling your Viera, Suntree or Rockledge, Florida home, please call me for a free market analysis.

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