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The multiple offer landscape have changed these last few years.
The past few weeks, I was caught up in multi offer situations.
Example 1.
Over asking subject free offer. Selling agent calls me and says our offer is low and gave us a chance to increase it.
I didn't go for his bluff and he never called back. Have yet to see the SOLD price on MLS yet.
Example 2.
Over asking subject free offer. Again offer was too low and was given the chance to increase. We moved up on price and ultimately got the home.
Both situations, seller agent requested emailed offers
I personally prefer to be there in person if possible.
Typically, a seller in a multi offer situation would pick the best offer out of the group and would either accept it or work with it.
Now the sellers are allowing ALL the buyers to increase their offers. That's why home prices have sky rocketed lately.
As a buyer in this situation, they are suppose to present their BEST offer.
Now that you're given multiple chances to go "Crazy"... sellers are licking their lips.
All buyers are having a tough time.
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