What's the Secret to Winning Multiple Offer Situations?

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Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call us at (781)-929-4994 for a FREE home buying or selling consultation

Thanks for joining us again. Today we are going to talk about dealing with multiple offers on a home, from a buyer's and seller's perspective.

We are definitely seeing a lot of multiple offers here in Wellesley. In fact, just yesterday we saw a property sell for $100,000 over asking price after having 11 offers on it. 

The most important thing to remember when making an offer is not necessarily the price. You want to look at all the terms and conditions of an offer to see if it's the best fit. Sometimes waiving inspections or mortgage contingencies matter more to a buyer than just the price. 

Cash is king, but not always. An offer is about terms. Sometimes the close date may be more important than the price. Sellers understand that most people can get a mortgage so I don't think they are too concerned about buyers not getting one. 

I think a personal letter is always a good thing because it appeals to the seller's humanity and allows them to envision someone else in their home. It is a nice personal touch that can help you stand out from the crowd. 

Before you start writing offers or even start looking at homes for that matter, a pre-approval is a must. Nobody will accept your offer without one, and if you don't have one, you may be looking at homes you will not be able to afford. 

If you receive multiple offers, you are going to get the most money in the first few days while demand is high. Take the money and run!

If you have any questions for us, or are thinking about buying or selling in Wellesley in 2015, give us a call or send us an email. Talk to you soon!

Who is Benefitting from Wellesley Market Conditions?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call us at (781)-929-4994 for a FREE home buying or selling consultation

Hey everyone, I'm here today to give you a quick market update on Wellesley real estate. Lately, we have been seeing a lot of activity, with a lot of buyers out there looking for homes. Sellers have been seeing a lot of multiple offers lately, as every home that comes onto the market has a new crop of buyers looking at it. We have seen many buyers offer above asking price in Wellesley.

It is a great time to sell here in Wellesley. This seller's market will run from now until around June 1, where it will then level out for the summer. One interesting thing that happened this week has to do with interest rates. They increased this last week, which will affect the number of sellers out there and the kind of prices they are paying. Even though rates have gone up, home prices are going down as a trade-off. 

Before we go, we also thought we would share a few graphics with you to highlight some current conditions. The first shows our active inventory, which made a huge jump in March. The second graphic is the number of unit sales in Wellesley over time.

There you have it, the latest conditions here in Wellesley. If you have any questions for us, feel free to give us a call or send us an email. We look forward to speaking soon!