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How to Win A Multiple Offer Situation

With real estate in Nashville not showing signs of cooling off anytime soon, many buyers are feeling the exhaustion and frustration of trying to buy in this market. Whether it's getting beat out by someone out of state willing to pay $100k over asking price, or having a part of your contract (inspection, appraisal, etc.) fall through, it has become clear that just being able to afford a house doesn't guarantee you anything in this market. So, how do you win a deal as a buyer?! Well, there are a few ways you can get creative when making your offer that can truly make the difference. From simply offering more than asking price, to being as creative as having a lease back option where the seller can stay for free. If you're trying to avoid offering over asking price, but still want to strengthen your offer by cushioning the seller's take away, you can offer to pay the seller's title expense, or even offer to make up the difference (to a certain $ amount) in the appraised value (if under list/offer price). Other factors that are appealing to sellers include having a short closing period or a closing date of the seller's choosing, writing a personal letter with your offer, waiving inspections or appraisals or having pass/fail inspections, using an escalation clause, and offering to have the seller keep the earnest money in the event any contingencies cause the deal to fall through. While there is still no guarantee that these strategies will result in your bid getting accepted, these are all ways that will help your offer stand out in the crowd!

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