Strategy for a Multiple Offer SItuation

It is definitely a buyer’s market out there in San Carlos, so if you want to buy a home, chances are, there will be a lot of other buyers right behind you. If you think you have found the home of your dreams, what can you do to guarantee that you will get it over someone else?


You have to remember that there simply is no guarantee. There are many factors that go into putting a bid in on a house.

First off, work with a reputable, savvy agent. Have have them determine what the fair market value of the home is.  Review the disclosures so you are familiar with the condition of the home. Talk it over and decide what you are comfortable paying for the home.

A good agent will get as much information as possible from the listing agent so that your offer will be as strong as possible.  In addition to price, it is helpful to know what the ideal terms for the seller would be (close date, rent back, items to include/exclude, etc...) so they will be included in the offer.

If you are working with a lender, it is always helpful if it is a well known reputable one.  In addition to writing a pre-approval letter to submit with the offer, have them call the listing agent before you present the offer to let them know how highly qualified you are and confirm the terms.

If this is your dream home and you want it at all costs, then perhaps investing in inspections prior to writing the offer so that your offer does not need an inspection contingency.  If you have the means, you may also consider an escalation clause. (See my previous post on escalation clauses.)

As always, try to work with an experienced and trusted REALTOR®, who can ease the process for you. They can work with the seller, and hopefully, you can all come to a deal that will leave everyone happy.

We are experienced, trusted and happy to assist you!

Kelly Clarke MBA
Realtor
The Clarke Team
650-489-5399