We are often asked, “…but we put in the highest offer, shouldn’t that guarantee we get the home?”
Your answer, plain and simple, is “No.”
Many homebuyers believe, especially in a multiple-offer situation, that the buyer who offers the seller the most money wins. Sure, sometimes a seller will only see dollar signs and ignore everything else, but the highest offer doesn’t always work in reality.
Any good real estate agent will advise their seller not to look at the numbers but to look at the offer as a whole and consider everything before accepting.
Top 3 Reasons Why The Highest Offer Won’t Always Get The Home
Cash Trumps All
If you can pay cash, your lower offer could easily trump a higher financed offer every time. Sellers LOVE an all-cash buyer because there are no mortgages or lenders involved, escrow closes faster, and there’s no appraisal to worry about. The whole process runs a lot smoother and faster. If you have a home to sell first, we can help you become a cash buyer before your current homes even sells! Check out our Guaranteed Buyout Program to learn more.
The Trusty Fully Underwritten Pre-approval Letter 
The next best thing to a cash offer is a fully underwritten pre-approval letter. This is a letter provided by your mortgage broker or bank that confirms you are ready to buy in a set price range and have been pre-approved for the loan. This gives the seller the security they need to trust your offer. So if another buyer puts in a higher offer without a fully underwritten pre-approval letter, you may have the advantage over them.
Timeline Flexibility
A typical closing period can last anywhere between 30 to 90 days. If you really want to win over the seller and beat out high offers, customize the closing’s length to suit the seller’s needs. Most sellers want the quickest closing possible, so if you can do it, offer it! Other times sellers have time restrictions. For example, their dream house won’t be ready for another 90 days. They’ll need more time, and if you’re able and willing to give it to them, you can beat out a higher offer that won’t budge on their timeline.
Remember, the highest offer doesn’t always get the home! Always look for ways to beat out the highest offer and land your dream home! If you’re looking to buy, our team of buyer agents can help you make those dreams a reality. Make sure you contact us today and get the home you truly desire!
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