Should a listing have a pending sale sign in the yard? It depends. We have a Sacramento listing that recently had five offers. We are pending sale and have two back up offers. One of these two buyers signed a back up addendum and a multiple counter offer form. This buyer is ready to go into a sales contract if the first offer fails for any reason. In this case, the seller wants a pending sale sign in the front yard as soon as possible. The home sold in 5 days, so sellers are thrilled and want the neighbors to know how fast it sold.
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.
When a home seller cancels the contract for non-performance, she must have a specific action that the buyer failed to complete. In this case, it is the buyer’s good faith deposit. The contract specifically states the buyer’s funds must be deposited into the title company within 3 days after acceptance of the buyer’s offer.
In this particular escrow, there have been many conversations about the deposit and several reasons why the funds have not been wired. A car wreck, an illness and then a tragedy in the family with their child. Another reason for the delay just happened this week. The funds were somehow wired to the wrong title company. The seller’s agent has been very patient. Everyone has a line in the sand and the seller and her Realtor have reached that point with the buyer. The buyer has truly tried everything within her means but has been unable to perform.
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.