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Updated about 1 year ago,
Making Multiple Offers on Same Property At the Same Time
Hi Real Estate People!
Looking for input from people who have experience making multiple offers on the same property.
I want to know what different variables I can offer or different way s to structure the offer? Down payment, interest rate, length of seller financing contract. What else?
I've been chasing this 3 house deal for 3 years and it just came back to me having fallen out of contract twice.They don't need to sell, they own it outright, and can rent out one of the houses now, but they don't want the hassle of managing it or doing the septics.
The original owner died unexpectedly and the family ended up with it.They did a few repairs with the deposit the second potential buyer forfeited. They replaced a roof, painted one of the houses, put all new appliances and carpet in one of them and raised the price by $80,000!
The buyer who backed out also did a bunch of the title work but there is not yet insurable access to the property.
I'm trying to figure out how to structure a few different versions of the offer to make it attractive to sellers without over paying.
Looking for the sweet spot that will make it more attractive than just renting out the house that is ready to go.
Thank you in advance!