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Multiple Offers: A Buyer’s Perspective
- Many of my Vancouver buyer clients ask me: “What it is like to go through a multiple offer situation”
- here’s the process and you’re not going to like it!
- this process puts the buyer at a huge disadvantage. The seller is holding all the cards
- typically 3 choices when a seller receives and offer
- 1: can counter the offer by making changes to the price, terms etc.
- 2: can ignore the offer i.e. throw it away
- 3: last one, the one you want for: seller accepts
- actually a 4th choice a seller has in a multiple offer scenario: seller can verbally ask you to if you are willing to increase your offer price
- if you are: offer is returned to you and you resubmit it with a higher price
- obviously this only happens when the seller has more than one offer and the offers are close in value.
- many rules around ethics and the listing agent’s code of conduct in this scenario.
- how are you buyers finding the market in Vancouver? - any luck successfully purchasing a home?
- - if you would like to learn more about multiple offers or if you looking to sell your home - give me a call.