The Pro’s and Con’s of Mutliple Offers in a Buyer’s Market
You are probably thinking …what possible con’s could there be in a multiple offer situation? Surprisingly there are a few things on both sides of the fence to consider…
Starting with the Pros:
- You are in a good position to get your asking price.
- Negotiations are usually quick and uneventful or unemotional.
- You will be able to pick the offer that best suits all of your terms: price and possession date.
However, in buyer’s market there are some things to consider ..now the Con’s:
- In a buyer’s market, buyer’s are averse to getting into bidding war – they see it as an unnecessary evil. Especially at a time when they should be getting a deal – not giving a deal to a seller. Often times buyer’s will walk away from a deal in order to find a home that they do not have to compete for.
- If you come back with an over confident (counter) offer – you may risk offending or alienating your buyer. This is a tricky one to navigate. Proceed with caution and rely on your REALTOR®
Additional “Christy’s Credentials” Articles…
Additional “Edmonton Realtor: KENNEDY Real Estate” Articles…
Christy Van Dyke
Associate | REALTOR®
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