How do Offer Deadlines benefit the BUYER?

I’ve talked to many buyers who are just frustrated by the phrase Offer Deadline. If you are attempting to buy right now, you’ve probably experienced it and feel the same way. That’s completely normal! Why won’t these sellers just accept an offer for what they are asking when I present it to them? Well there is a lot more to an offer than just price but that's a topic for another video. 

Let’s talk about these Offer Deadlines! 

No matter how quickly you get into a property right now, there is a very high chance that there will be multiple offers on that home. 

1. Offer deadlines set expectations for everyone involved. Expectations help manage emotions.

2. Offer deadlines provide buyers time to gather information.

• • Buyers get to review the listing, the disclosures, do drive by’s of the neighborhood and stop by town hall if needed. 

• Buyers get to talk to their mortgage lender and process the price they are going to pay and how that translates into monthly costs and the buyer’s day to day life. They get to run multiple financial scenarios. 

3. Buyers get to tour the home, possibly more than once! 

1. • They get to attend the first showings at the open house on Saturday, schedule a second private showing with me or even have uncle bobby the contractor come check it out to better understand the potential projects that are on the to-do list. 

4. Buyers are able to gain confidence and certainty with the life changing decisions they are about to make.

By the time the offer deadline comes around, this prepared buyer has viewed the listing online 7,000 times, they have toured the home, they have run multiple scenarios with their lender and they have considered all the risks they are willing to take and more importantly the risks they are not willing to take when making their offer. They are limiting the amount of regret they will have when the sellers makes a decision. If they win the home, they are thrilled and excited about the offer they made and if they lose, they know that they were not willing to do anything more, there was nothing left on the table!

Sellers! Wait for the offer deadline, you will be able to choose from the best price and terms and you will have a buyer who is prepared and excited about purchasing your home with a far lower risk of buyer’s remorse when it’s time to sign Purchase and Sale!

Let’s schedule a meeting to talk about the best way for you to approach our current real estate market!