Why are there Multiple Offers on a Tulsa home for sale in a Buyer’s Market?
My Buyers are scratching their heads because a Tulsa home for sale with which they fell in love wound up in a multiple offer situation – while we are in a Buyer’s market!!! How could this happen??
Any area with more than a six month inventory of homes for sale is considered to be a Buyer’s market. But, just as the prettier girls get asked to dance before the less attractive gals, the same goes with Tulsa homes for sale. The more attractive and updated homes will receive offers quickly, while the less attractive homes will remain on the market.
What do you do when you find yourself in a multiple offer situation?
This is very frustrating for home Buyers because you truly are in the middle of a blind auction. You honestly have to ask yourself HOW DISAPPOINTED you will be if you don’t get this house and then make your HIGHEST and BEST offer which may be above list price.
By “best offer,” we mean “keep it clean.”
Don’t ask for closing costs or an extended closing date – and don’t ask for the refrigerator. Offer a higher than usual amount for earnest money. If all other things are equal, the Seller will choose the offer with the strongest financing.
Why are there Multiple Offers on a Tulsa home for sale in a Buyer’s Market?
The best thing for home buyers to do is AVOID multiple offer situations. If you find a Tulsa home for sale that you love and can see yourself living in – make an offer quickly – and make a reasonable and attractive offer. Get under contract before other buyers have a chance to see the home.
Tulsa’s real estate market never experienced a high or a low. Yes, we do have high inventories in different areas and price ranges, but the updated homes that are priced competitively are not going to be available for any length of time.
If I can help you shop for a Tulsa home for sale, please start your search here or call me to set up a custom search for you!
