Buying Sacramento Home
How do Realtors educate buyers to write winning offers? They tell them everything about the process. Talking about how to prepare a potentially perfect offer to conform to the market is critical. We are navigating through a seller’s market in Sacramento Real Estate, right now. Inventory is at all time low.
Buyers are making offers above list price even to be considered to compete, and they face stiff competition and multiple offers. Put on your armor and make your highest and best offer as you may not have another opportunity. All sellers do not send out multiple counters; they can decide to choose the best offer and game over.
A multiple offer recipe for a new listing is much like following along in a cookbook. You need a few ingredients or the recipe will turn out half-baked. Plan out your new recipe thoughtfully and with intention.
First, you need a desirable location. Second, the property has to have key features such as a spectacular lot. Add onto that, 4 bedrooms and a single story. How about throw in a brand new high-end kitchen? New Plush Carpet, upgraded pad, and wood floors are just the cherries on top. How about a culdesac? Cool off in your own Tahoe blue, built-in pool. So the above are all the features on my new Sacramento real estate listing located at 9901 Silverod Place, Sacramento, Ca. 95829.
A scenario we are seeing as of late, buyers hesitate to write offers in a timely manner, consequences? Well, yes, in a spring Sacramento market, homes sell faster than in the winter. A listing located in Midtown Sacramento we already put in escrow. Of course, now another couple who had seen it 4 times didn’t write soon enough. They submitted an offer a little too late, and are trying to get into back up offer position.
Another listing in Natomas, the buyer wrote three consecutive offers; however, the first two were not viable. Of course, another offer comes in! Now, they are competing in a multiple-offer situation. If the first buyer had written a substantial offer instead of writing lower offers, they would have been in contract long before today.
A buyer makes offers on the same property three times, is it the charm? This really just happened. In decades of selling real estate, this was a surprise. The first time the buyer wrote a very low offer per the seller, when there was a substantially higher offer on the table. The second time the offer was a bit higher offer, same buyer. The third time it is a viable offer, but is that high enough for the seller?
The first offer the sellers did not respond. They felt it was too low given the comparable sales on homes that had the same floor plan. Meanwhile the home went pending into contract with another set of buyers. So this same buyer submits a second offer, as a backup offer. The seller rejected the backup offer, still too low, he said. The property then fell out of escrow through no fault of the seller. The seller has been working hard every day to ensure the home shows well.
A seller just had his escrow cancel due to dangers of home buying sight unseen. All because the buyer’s agent had not disclosed to the seller the fact that both of the decision makers had not viewed the home prior to submitting the offer. Which tends to happen when there are unscrupulous or ignorant agents (hard to say which description applies) who believe it is OK to deceive the seller and the listing agent.
Deceiving a seller is unethical and could be considered against the law due to possible breach of contract elements.