There is a reality buyers face in a seller's market and that is when it comes to purchasing the right home in the right location for the right price how much should you be willing to pay when you're dealing with a property that has multiple offers?
There is no clear cut answer for this question. It is all based upon how much a buyer feels the property is worth to them. However, from a strategic standpoint a buyer may want to consider doing a couple things with their offer:
1. Raise your purchase price and include $533 or $753 more dollars in the offer just in case another buyer decides to make their offer full of whole numbers. It may not be much but it just may be enough.
2. Offer more money in due diligence and shorten the period of time you have to conduct investigations. The more money the seller sees that you are willing to put down upfront and the less time you give yourself to perform inspections, appraisal, and get a property survey the more comfortable the seller will feel with your offer.
3. Be willing to close quickly. Sometimes too much time can kill a deal but when you're willing to close much faster than usual it gives the seller a sense of confidence that the transaction will be over soon.
In an active seller's market inventory is low and demand is high but if you give yourself an edge by being more creative with your you just may be the winning offer.