So you’ve found the home of your dreams and are thrilled to submit an offer, but what happens once you find out there are multiple offers? This is a sellers’ market meaning they have the most control in today’s Real Estate.
In a sellers’ market, buyers have to prove why they are the best choice whether it is through an offer or comradery. Many buyers think “Money talks” but in some cases, the seller chooses who they connect with the most. According to realtor.com, when there are multiple offers, the seller typically takes one of three actions:
- Accepts the most favorable offer
- Counters all offers to give everyone a chance to come back with a better bid in an effort to get the best price and terms
- Counters the offer closest to the price and terms the seller’s seeking
Try treating each seller like a friend, start a conversation and find common ground; this will only help the interaction and possible acceptance of your offer. The Staten Island Market and Homes for sale have increased 2.8% from last year. If you are in the market to buy a home, Martino Realty can help you purchase your new home. We have agents that have knowledge of the Brooklyn and Staten Island market. Call (718) 608-9400 or visit https://martino-realty.com/