Beaverton Real Estate: Multiple Offers, 5-Key Tips for Buyers

By Kimberly Shute

It used to be rare for sellers to get multiple offers on their home. Thanks to historically low rates, increased affordability and low inventory; multiple offers are becoming the norm. For buyers, your first offer is extremely important, as you won’t always get a second chance.

Find out what is most important to a seller. Is it the close date? Is it a dollar amount? Will they need rent back? Cater your offer to their highest need.

Write a personal letter to the sellers. Share why you like the home. Be specific. Family homes are seen as a family member, it matters that a buyer will take loving care.

Send your highest and best offer, make it as competitive as possible. However, offer within your means. Your home should be a sanctuary, not a burden.

Offer concessions. Offer to pay the difference between the appraised value and the accepted offer price. Offer to reduce the inspection period, or even waive the inspection contingency, meaning the seller would not perform any repairs after you conduct the inspection.

Offer a strong down payment. Twenty percent is sufficient, although offer as much as you can to stand out. It reassures the seller of your financial stability and makes it easier for the bank to approve your loan.

Though this is not a complete list, these five tips can help as we continue into the high season of buying homes.

Kimberly Shute, Certified Senior Housing Professional with Keller Williams offers a division, PDX Mature Moves, which specializes in working with adults 55+. For more information contact Kimberly at 503-227-1302.