Negotiate Multiple Offers on Your Home | IMPORTANT | 7 Steps to Follow

Do you have multiple offers on your home? Do you want to know how to negotiate them?

Negotiating offers can be tricky, influenced by emotions and market dynamics. The key is ensuring your home is priced right, aligning with market value to attract serious offers quickly. Remember, it's not about the initial offer but where you end up. Even lowball offers deserve consideration, as few buyers intentionally lowball in a serious market.

Always verify buyers' funding through proof of funds or mortgage approval, ensuring they're capable of purchasing your home. When countering, make a substantial first move to show willingness to negotiate, then hold firm to gauge buyer seriousness.

In multiple offer situations, strategic negotiation is crucial. Avoid disclosing too many details to prevent potential buyers from backing out. Direct your agent based on your preferences, aiming for the best offer, not just the highest bid. Multiple offers require careful management, sometimes calling for highest and best without scaring off interested parties.

Your agent's experience is invaluable, especially during the inspection period, where buyers may seek concessions. A skilled agent can leverage backup offers to maintain negotiation power, emphasizing the importance of choosing an agent who aligns with your negotiation style and understands your bottom line.

Negotiation isn't just about price; terms like closing dates or rent-back options can be equally critical. Stress, often translated into monetary terms, should be considered when finalizing a deal. Always present your final offer before walking away, and be mindful of red flags indicating potential buyer hesitancy.

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Chapters:
00:00 Intro
00:41 Price
02:20 Funding
02:44 Countering
04:15 Multiple Offers
06:11 Backup Offers
07:57 Bottom Line
10:06 Red Flags
11:56 Emotions
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Hey, Kati Spaniak here, I’m a top Chicago North Shore Real Estate Agent. Thanks for watching my channel your ultimate guide to selling and buying homes in the Chicagoland area. Specializing in the vibrant communities of Northbrook, Glenview, Northfield, Wilmette, Kenilworth, Winnetka, Glencoe, Highland Park, Lake Forest and Deerfield. I offer expert advice and insider tips to navigate the North Shore Chicago real estate market with ease.

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Kati Spaniak | Team Leader & Broker
Terra Lux Homes - eXp Realty
847-318-3431
https://www.TerraLuxHomes.com
https://bit.ly/ContactKati