How Should You Deal With Multiple Offers in Phoenix?

Greater Phoenix Area Real Estate Podcast with Rafael Almazan

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Today we are excited to talk about multiple offers, from both a buyer’s and a seller’s perspective. Currently, we are seeing a lot of multiple offer situations in the Phoenix area. Some of this is due to our inventory, which is extremely low at just 2.5 months.

When you are buying and looking to make the best offer possible on a home, offering the most money may seem like the only way to go. While it’s true that a higher figure will get your offer more attention, it’s the terms and details where an offer is really decided. Things like closing dates and inspections all need to be figured out by the buyer to see what will make the deal work.

Cash can or cannot be king, depending on whether you are a buyer or not. If you are a buyer, obviously you want to emphasize the fact that you have a cash offer and can close quickly, without any lender contingencies. As a seller, you sometimes have to look past a cash offer to look at the terms. The key is to talk to the seller’s agent to find out what they want in the contract and what’s important to them.

We do recommend writing a personal letter to the seller. As a listing agent, we have received multiple offers plenty times before, and sometimes all it takes is that little extra push to get your offer accepted.

You may remember a time when rates were around 7 or 8%. Right now, we are more in the 3-4% range, making homes more affordable than ever. Before you start looking for a home, though it’s important for you to get pre-approved by a reputable lender.

If you have any questions for us, we would be more than happy to answer them. Just give us a call or send us an email!