Today I thought I would speak about multiple offer situations. With the market improving here in Milwaukee these types of situations are becoming more and more common. To help you combat this competitive market, I thought I would provide you with some tips on how to make the best offer to a seller.

By Mike Roth

I’ve been in the real estate business for over 40 years and have closed over 7000 deals. There hasn’t been a problem we’ve come across that we can’t solve in today’s market – especially in the challenging market we have today.

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Get Pre-Approved from a Lender: There is a difference between being approved and being qualified. Make sure you're pre-approved because this will make you much more attractive in the eyes of sellers. In a competitive market, you need to prove that you will be able to pay for a home.

Write Your Best Offer: A seller will likely not counter your offer in a crowded market, so write your highest and best offer. They will only be looking for the highest offer. We've seen buyers in Milwaukee offer above the asking price, and they are still being rejected by the sellers. Accommodate the Seller: You are in a captive market here in Milwaukee. You must always aim to please the seller. One way to do this would be to agree to the seller's moving date. This will make the seller pleased and will improve your chances of getting the property that you want. If you need to, allow the seller to continue living in the home after closing and offer them post-occupancy. Exclude Contingencies: If you can buy a home without selling your own, or remove any other contingencies from your offer, it would make for a much stronger, more attractive offer to the seller. Waive inspections and appraisals on newer properties if you feel comfortable in doing so. Write a Personalized Letter: We call this a 'love letter' where you simply let the seller know how much you love their home and how you plan to keep it in great condition. This would include why you would be the best buyer for the property. Also tell them why your offer is a good offer.

Hopefully these tips can help your offer get accepted if you're struggling to find a home in the Milwaukee market. Competition is tough right now, so if you need any assistance whatsoever please don't hesitate to contact me. I would love to arrange a time where we can sit down and discuss all of your needs.

Thanks for tuning in!

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