How Buyers Can Successfully Compete in Multiple Offer Situations

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Welcome back to the second part of our series on how to handle multiple offers in the surrounding Irvine area. As a buyer, how can you compete and increase the likelihood of getting your offer accepted in a bidding war?

"Reduce the contingency
period at all costs."

Of course, sellers will the take the price into account first. However, it’s not the only thing they look for. Although sellers are looking for the highest bidder, they also want to make sure the buyer can close in a timely fashion. As a buyer, it’s your job to assure the seller you are that buyer they can rely on. Here are six useful tips to remember when submitting an offer.

1. Provide detailed documentation on the source of your down payment.
2. Reduce the contingency period at all costs.
3. Get pre-approved with a local, reputable lender and provide the pre-approval letter, including your FICO scores and your assets.
4. Inquire about the seller’s motivation through your agent, such as what they’re looking for or why they’re moving.
5. Get personal and include a family photo with your offer.
6. Be flexible with the closing date.

If you’d like more tips, please reach out. Give me a call or send me an email. I’d be happy to talk! I can answer any and all of your questions as well.