Negotiating Multiple Offers

Every home owner’s worst nightmare is that one day they will decide that it is time to sell their humble abode and it will not sell. This is particularly nerve-wracking when you are working with a deadline: no one wants to be paying for two homes because the old one won’t sell. Luckily for Calgarians, this is usually not a massive problem.

Calgary is a thriving city that draws in people from all over the world who want to immerse themselves in new vocation opportunities and a strong community feel. With all these people wanting to live in YYC, homes are in high demand. That is where you come in: the homeowner with a beautiful property just waiting to be picked up.

What is the opposite of getting no offers? Getting multiple offers! This is not exactly an issue, but it can become hard to navigate. So, what do you do when your home is getting multiple offers from people who all want to call it their own one day?

The most important thing is to not pick the highest bid simply because the money looks good on paper. Remember that there are two major things that go into a deal: contingencies and deadlines.

For contingencies, what are you willing to add in to make the sale more sweet? What are the people wanting the property hoping to keep that isn’t necessarily part of the base deal? For example, you may want to move your swing set with you, but one of the offers may request the swing set is part of the deal. This can really affect how much money you want from a particular offer.

By deadlines we are referring to move in and move out dates. One buyer may wish to move in immediately, while another may want to wait a number of months. Both these variables are important for you to be aware of because they affect your move, too.

Communicate with your realtor: they will be able to give you guidance and help you keep things ethical and legally sound. Remember that you are in control! This creates the perfect conditions for you to get an offer above asking price, and for you to be a little more picky than usual! Make sure you are aware of all the variables going into every deal, because knowing them will allow you to make a sound decision.

Your Real Estate Professional,

Ken Richter

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