As we move into the summer real estate season, more homes for sale in South Lake Tahoe are coming on the market, as are buyers. Sellers usually list with the hopes of getting multiple offers while buyers dread hearing that their dream home already has an offer. Competing with other buyers makes home shopping a little more difficult. So how do you navigate this scenario? There are a few ways listed below, but the most important thing is making sure you have an experienced and qualified South Lake Tahoe Realtor leading the way. Check out these tips for navigating the home buying process and multiple offers.
First, it is important to know that when homes for sale in South Lake Tahoe have multiple offers, it is the seller’s call. The seller can ignore some, counter another or accept one outright. Just know that while money can be driving factor, there are other things that can sweeten the pot for the seller.
If your first offer didn’t make the top of the pile, all is not lost. Usually, sellers will give buyers the chance to offer their highest and best bid by a certain time or date. Also known as an offer review date. So you do have time to up the ante if you have your heart set on a particular property. Your South Lake Tahoe Realtor will be able to help you come up with a competitive offer. Just don’t overbid based on emotions. Sometimes all it takes is a 2% increase to get the property.
If going above ask price isn’t an option, chat with your South Lake Tahoe Realtor on other things that could make your offer stand out. Is it a shorter close time? A rent back period? A longer close? See if they can find out what the seller’s circumstances are for moving and add that into the offer. This may be more important to them than cash.
Don’t have cash or a flexible timeline? The personal letter has mixed reviews, but it really can make a difference so long as it is authentic and comes from the heart. Emotion based marketing is successful for a reason and if you pen a heartfelt letter with your South Lake Tahoe Realtor guiding the way, you could just come out on top. Just know your audience. If the home is owned by an investor, they likely will be about the bottom line and not have an interest in a personal story. If it is owned by a family who has had the house a long time and wants another family to carry on the memories, you have a good shot.
The most important thing in any market is to have a local Realtor as your advocate. For more information on buying homes for sale in South Lake Tahoe, feel free to give me a call. I would be happy to help!