Handling Multiple Offer Situations in Charleston

Charleston Real Estate Podcast with Dave Friedman

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Charleston is one of the hottest real estate markets in the nation, and we're seeing a lot of multiple offer situations here because of that.

If you're a buyer in a multiple offer situation, you really need to take a step back and evaluate if the home is right for you and whether it's worth fighting for. If you decide to go through and try to purchase the home, there are a few things that we'll do with you.

1. Ask questions: We need to know how much you're willing to spend on a home, and what else we can negotiate. Price is not always the top factor for a seller; sometimes they just need to sell the home quickly and without contingencies.
2. Find the seller's motivation: We try to pinpoint the seller's motivation, because this allows us to make the strongest and most appealing offer on your behalf. We've won homes without offering the highest price because we've understood the motivations of the seller.
3. Escalation Clause: We can write into a contract that you're willing to offer (for example) $300,000 on a home and you'll offer $1,000 more than every offer until the price surpasses $320,000 (or whichever number you choose). This way, we can offer the most amount of money, yet you can control how much you're paying for a home.

Hopefully this information can be useful to you if you find yourself in a multiple offer situation in Charleston.

Please don't hesitate to contact me if you have any questions or concerns about this information. I'm always here to help you!