How Should You Handle Multiple Offers in Sioux Falls?

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 (605) 413-4868 for a FREE home buying or selling consultation

The real estate market is heating up and we're seeing a lot of multiple offers. This is why we're going to be speaking about how you can handle them properly. Occasionally the home will sell for more than the asking price, and sellers can reap the benefit of this hot market right now. As a seller, it really gives you a lot of options.

If you are a buyer looking to purchase a home that is receiving multiple offers, there are some things you can do to make a strong offer even if you weren't the highest bidder:

• Get pre-approved by a local lender: This will help you to stand out as a serious and capable buyer, and a local lender will help speed up the appraisal process.
• Consider contingencies: If your offer has less contingencies (things like inspections, home warranties, or appraisals) it will be much more appealing to the seller.
• Get your current home ready to sell: This will also be good in the eyes of the seller because they will not have to wait for you to sell in order to buy their property. 

One word of advice for sellers is that the highest offer is not always the best offer. Sometimes a buyer who is offering less may want to forgo an appraisal or an inspection, and that might work better for your particular situation.

Hopefully this information has been helpful to you! If you're looking to buy or sell in Sioux Falls please get in touch with us as soon as possible. This market is hot!